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“Global textile and apparel industry is going through disruptive times. Buyers are looking to diversify beyond China and opening opportunities for other countries. However, China is still disrupting the global value chain and investing in emerging manufacturing destinations like Vietnam, Bangladesh, Ethiopia etc. on a large scale and also building smart factories that will give them a competitive advantage. In order to compete globally and win in the disruptive times, India needs to adopt manufacturing excellence and service orientation,” as per a FICCI – Wazir Advisors Textile industry report on ‘Winning in Disruptive Times’ released at FICCI TAG 2020 annual seminar in Mumbai.
“India comprises a large fragmented industry and hence it is important for large anchor players to engage with smaller players and integrate the supply chain for bringing efficiencies. Further Indian companies need to adopt latest technologies and build smart factories that are digitally enabled with the value chain. Skilling of middle and top management is also important so that they are geared to follow best practices and build efficient and service oriented business. Indian domestic market is also growing and needs to be serviced with agility,” said Prashant Agarwal, Co-Founder and Joint MD, Wazir Advisors while giving a presentation on the report.
Report also stressed upon Government’s policy intervention to help in neutralizing cost disadvantage with global competitors and also help build infrastructure to produce large scale manufacturing zones with focus on manufacturing excellence and sustainability.
Indian industry has become cautious in investing due to global disruptions. We need to have better risk taking capabilities and ability to speedily align with emerging mega trends to remain in the business opined a panel of CEOs during the conference.
RD Udeshi, President – Polyester Chain, Reliance Industries Ltd stressed upon the product delivery time and quality and finishing of product as per the international standard to remain competitive in the global market and companies should focus on value addition and skill development. He also said that Indian textile industry can have advantage over its competitors like China, Bangladesh, and Vietnam etc with the manufacturing excellence and scale of the factories.
Rahul Mehta, Managing Director, Creative Garments Pvt Ltd was of the opinion that Indian companies should stop being scared of scaling up and start manufacturing clothes closer to the place of raw material and cheaper labour instead of being close to the place of market.
Agility, speed and transparency is the key to win in disruptive times said Rajendra K. Rewari, Executive Director and CEO, Morarjee Textiles Ltd. He also said that we should bring young talent in the business in this disruptive time and to attract this talent we have to change the system of our business and make our industry more remunerative.
Earlier in the opening session, Sanjay Katkar, Deputy CEO, MIDC shared opportunities for Textile Industry in Maharashtra and SP Verma, Joint Textile Commissioner, Ministry of Textile; Govt. of India said that Indian companies should integrate market intelligence and IT in their processes more efficiently and utilize Textile Centre of Excellence to its full capacity.
The theme of the TAG 2020 conference is very contemporary. In these disruptive times it’s important that the industry experts discuss the issues and challenges and seek possible solutions to overcome those. TAG conference offered an excellent platform for giving a clear roadmap in that perspective said GV Aras, Director, ATE Enterprises Ltd during a panel discussion.
With innovation, technology, versatile fibre availability and ample manpower resources, India should aim to be superior quality producer in the world said Anil Nair, President, Shubhalakshmi Polyester Ltd during a panel discussion.
Vikas Sharan, Director, India Operations, Saurer Textile Solutions Pvt Ltd applauded the TAG 2020 conference and said that relevant topics on surviving through disruptive times, sustainability, size and scale of business, investments and interventions for winning the global race, were deliberated by industry’s stakeholders with active participation by the audience.
“The very first step to prepare for the festive season is to understand customers’ shopping preferences. This year has been difficult worldwide, although we are optimistic things will get better. Our strategy is to promote products through social media handles and other digital platforms. This is the time to focus more on digital to reach out to our consumers. We will be experimenting with digital platforms which will not just be limited to promotion but will also be the preferred points of purchase. Our constant endeavour is to create a seamless omnichannel experience to increase our customer engagement during the festive season,” says Anshuman Singh, Creative Founder, Paul Adams.
While the growing penchant for digital commerce presented hitherto unseen opportunities, it also has compelled brands to ramp up their digital efficiencies. Brands and retailers are now compelled to invest courageously and timely to offer a seamless online experiences. This demands super agility and adaptability!
Talking about the debut of Fossil’s jewelry line in India, Johnson Verghese, Managing Director, Fossil Group, India said, “Over the years, our customers in India have enjoyed our unique global fashion & lifestyle offerings across categories. At Fossil, we have always laid emphasis on intricate craftsmanship and quality material when it comes to creating accessories. We strive to provide our customers with an individualistic experience together with an authentic and effortless sense of style. Now, with the addition of our jewelry line, we further expand our portfolio to cater to our customers’ growing preferences. ”
Desigual was introduced in India via an online space in December 2019 by Tablez in association with Myntra. Its first offline store was launched in August 2020 at Vegas Mall, Dwarka. Having received a fabulous response offline and from the popular e-commerce portal since its inception in India, Tablez group unveiled yet another exclusive outlet of Desigual in the capital city at DLF Avenue Mall on October 08, 2020.
Westside has registered demand in slogan tees, joggers, wide leg pants, shorts, leggings and cotton Pajamas. “Our women’s and men’s wear have a mix n match options of basic tees and fun lounge pants, T-shirt’s across all categories with fun chest prints and mood lifting colours. We also have shorts in knitted fabrics as well as tops that can pass as casual day wear. In the kid’s segment, there has been an upsurge in vests and crop tops,” says Naidoo.
The store will feature UNIQLO LifeWear, apparel inspired by life’s need for thoughtful and timeless clothing available in a variety of colours and styles for people of all ages that comes from the Japanese values of simplicity, quality and longevity. The store will offer the entire range of Fall and Winter products for men, women, kids and babies, such as its innovative and functional Ultra Light Down (ULD) and HEATTECH garments, as well as products featuring premium fabrics, including denim, Fleece, flannel shirts cashmere and more.
While the coronavirus pandemic immobilized the entire world, fashion continued to evolve. In fact, the lockdown and the lull has triggered new trends in fashion. As the world became restricted to their homes, consumers’ started gravitating towards fashion that catered to the new normal — comfortable and presentable clothes that can easily transition from work from home to work-out, to grocery-run and social-media appearances. And this is where loungewear came in!
“We have been working towards strengthening Omnichannel retailing, which is essentially delivering a unified experience to the customers with the physical stores integrated with e-commerce marketplace. Cantabil has forayed into the online market space recently. So, this would be the first time we would be available online and are expecting good traction in the number of sales. While offline sales have bounced back in the second quarter and look stable for Tier II and III cities, we are witnessing that the customer is still more comfortable shopping online, especially in Tier 1 cities due to COVID crisis. We also have a keen focus on automation, understanding consumer purchase patterns, and building on our brand positioning statement,” says Deepak Bansal, Director, Cantabil Retail Pvt Ltd.
Speaking at the launch of the Newhood Shopping Festival, Angad Bhatia, Founder & CEO, MensXP said, “Today Indian men care about what they wear and how they groom themselves more than ever before, and they are not stopping just there. They have also started caring about where the products they use come from – and want to wear and use products from brands that share their values. This festive season, we have launched the Newhood Shopping Festival aimed at introducing a curated selection of premium yet affordable products that celebrate and advocate this new wave of progressive dynamism men are embracing.”
In recent years, fitness has been a mainstream trend, with more and more people concerned about wellness mindsets and healthy lifestyles. The pandemic, on its part, has heightened this trend. The lockdown has triggered even the indolent most to realize the importance of staying fit and building immunity.
“The loungewear range has seen an almost 3x surge primarily online, when comparing the sales for the whole of FY2019-20 to that for May-August 2020. Online outperforms offline and has taken the whole business up. Talking about SISs and EBOs, the sales are slow but the last two weeks have been encouraging. Even the share of innerwear sales has gone up nearly 3x, though the value associated with it may not be as high,” adds a Jack & Jones Spokesperson.
“Although concerns on the second wave of the pandemic are gathering pace across countries and this remains a key business risk, the recovery trajectory so far has been relatively better for the apparel exporters,”Jayanta Roy, Senior VP and Group Head, Icra Ratings was quoted by PTI as saying.
Nonetheless, given the expected pronounced revenue decline and changing consumption patterns (with increased demand for casual wear), the OPM of retailers like Aditya Birla Fashion, Future Lifestyle Fashions, Shoppers Stop Limited, Trent Limited is expected to weaken by 300-500 bps in FY2021.
“Revenues in Q2 FY2021, though improved sequentially, are substantially lower on a Y-o-Y basis, in the backdrop of local lockdowns and restrictions. Meaningful ramp up in sales is expected from Q3 FY2021 onwards, led by increased demand during the festive season and substantial easing of restrictions under the new unlock guidelines with effect from September 1, 2020.”
The MensXP Shop hosts over 250+ premium brands with over 20,000 carefully curated products from bespoke homegrown labels spanning Home Decor, Kitchenware, Wellness & WFH essentials and much more to help you master the new normal. Within a year of its launch, MensXP Shop has emerged as the go-to destination for Indian men to discover content and products that help them navigate their social lives.
Kankatala is one of the oldest saree brands in Andhra Pradesh and Telangana and has represented the age-old weaving techniques for more than 7 decades. The brand has been popular amongst Indian diaspora spread across the world who once made a point to visit the store during their visit to India and now shops online from www.kankatala.com for various occasions including daily wear to bridal.
Athaiya’s moment of international fame came with the acclaimed 1982 film Gandhi, for which she won an Oscar for the Best Costume Design. Recalling the challenges of working in such a major production, Athaiya said in an interview, “We had to capture 50 years of Mahatma’s life in various locations and we could not go wrong because he was an international figure, well known to the world audiences.
“With this approach, we are bridging the gap that currently exists for firstly, aspiring customers in tier 3 cities and beyond, who are seeking the best of current fashion trends, but have limited access; and secondly, for customers in metros who are seeking fresh fashion in a minimum time frame.”