Outdoor Venture, distributor and retailer of premium sports and outdoor brands, has launched a new retail concept dubbed ‘RL2 by Running Lab’ in Singapore following its successful Malaysian debut last May.
The new RL2 concept caters to both serious runners and fitness enthusiasts, offering a curated selection of performance wear and lifestyle products that blend functionality with contemporary style.
Inside Retail spoke with Stephanie Tham, director of brand & marketing at Outdoor Venture, to learn about the new retail concept and the company’s marketing strategy.
Inside Retail: Can you walk us through the concept of RL2 by Running Lab? How does it differ from the original Running Lab stores?
Stephanie Tham: The concept of RL2 is positioned to support both performance and lifestyle. It aims to capture the spirit of All-Day Performance for ‘on and off’ running. The target consumer group will be runners who not only seek the performance-functional needs of running as a sport but also want to wear aesthetically fashionable functional brands and products when they’re not running. As such, this will be the key differentiating factor between Running Lab and RL2 by Running Lab. While key brands such as On, Hoka, Asics, and New Balance are also sold in RL2 stores, the curated product selection mix will be aesthetically different in terms of material and color that is more suited for both running and casual wear. Therefore, moving away from traditional running product aesthetics would allow consumers to not only feel good but look good as well, whether in sports or in daily life.
IR: Are you looking into expanding into other sport-specific product categories?
ST: At the moment, the anchor is still running and trail running, but we do not rule out expansion into other segments to allow RL2 to service a wider consumer segment that embraces the spirit of Run, Move, and Live—as whether in sport or in life, our consumers are in motion in this dynamic market.
IR: How is the growing popularity of brands like On and Soar shaping your approach to product curation and inventory management?
ST: Each different brand offers different product segmentation that caters to a different consumer segment profile. Based on the consumer profile for Running Lab versus RL2, the products are curated accordingly with the brand. In terms of inventory management, there is not much impact, as the product curation for RL2 involves a wider assortment mix with lesser depth and frequency of drops, and the consumer segment is more targeted and of a smaller base. As such, the inventory turn is much faster and smaller.
IR: RL2 debuted in Malaysia earlier this year and has now launched in Singapore. Are there any plans to introduce RL2 by Running Lab to other markets in Southeast Asia or beyond? If so, which countries are on your radar?
ST: At the moment, the plan is first to expand the RL2 concept in Singapore and Malaysia, but discussions are on the table to reach out to markets such as Indonesia and Thailand.
IR: With the rise of e-commerce, how is RL2 balancing physical store expansion with digital retail growth?
ST: The priority is for a concept like RL2 to move forward with physical store expansion, as some of the brands may be less well-known to consumers. Therefore, the feel and touch is important, as well as the overall store image and concept, which contributes to the consumer experience. It is also more impactful to showcase the brands’ and products’ availability when consumers walk through the store versus a digital experience. As the retail concept matures and retail footprint reaches out to a decent consumer size, retail e-commerce will follow.
IR: Southeast Asia is seeing a surge in global sportswear brands entering the market. How is RL2 differentiating itself to remain competitive?
ST: To remain competitive, it is about the ability to always refresh brands/products in the stores. Southeast Asia is a complex market, and not all global sportswear brands have the necessary know-how nor are ready to compete in the market. Additionally, there are always upcoming and emerging brands in the global landscape that RL2 is and will be working with.
IR: How do you adapt your store layouts, product offerings, or marketing strategies for each new market?
ST: The foundation and positioning of our retail concept stays the same across each market. However, the divisional mix such as footwear vs. apparel vs. accessories may differ, including the brand percentage mix, as this would have to support the relevant brand demand value in each market. Similarly, for product offerings in terms of colors and materials, each market bears uniqueness in consumer buying behavior. In terms of marketing strategy, this may also differ in terms of percentage of marketing spend to support areas like social marketing, seeding, and events. Each market will differ based on consumer behavior; therefore, the relevant marketing strategy will be applied accordingly.
Further reading: Amer Sports’ sales rise in China amidst demand for niche brands like Salomon.
The post Outdoor Venture’s director of brand & marketing on its RL2 debut in Singapore appeared first on Inside Retail Australia.
