It is a gradual but growing trend and more such shops are likely to come up. Brand advisories will definitely grow in number. The business, currently, is miniscule though. Industry guesstimates peg it at between Rs 50 and 60 crore. But the potential is enormous as the individual businesses are growing between 50 and 200 per cent and the category is growing even faster.
Brand building is firstly about developing intrinsic organizational strengths.
Secondly, management consultancies work with CEOs and as brand owners, CEOs are increasingly concerned about their intangible assets and would be amenable to their advice, he adds. However, when contacted Mckinsey official said that brand consulting was not its focus area. But Accenture admitted that brand consulting work is likely to increase for the company. Traditionally, the Indian companies were tangible assets focussed. In fact, some of the newly-launched brand shops are hoping to work with the management consultants.