CD Lifestyle, a Noida-based buying office specializing in young ladies and kidswear, founded by Pankaj Makhija and Sudarshan Sharma, having sourcing operations in India and Bangladesh is now looking at opportunities to source sweaters from Vietnam. While sharing his plan with Team Apparel Online, Pankaj says, “So far we have not explored this market, but Vietnam will be on cards for sweaters to begin with and shall shape up possibly towards end of the year.”
Initiated about five years back, CD Lifestyle, which combines experience of manufacturing, sourcing and testing/auditing between the two partners, is always looking for new markets to service and also source competitively. The buying office entered the Russian market about two years back which according to Pankaj is today at par to the European market in terms of FOB for kidswear and the price range varies from US $ 2.50 to US $ 7-8. He also feels that comparatively it is an easy market to handle and the buying office is focusing on girls’ and boys’ wear like jackets, bottoms and tops for the market.
CD Lifestyle has also taken entry into the French, German and Turkish market to cater to renowned labels/buyers. The buying office, which has buyers in many countries supplies to brands like Miss Selfridges, Tigi Wear, New look, Next, River Island, to name a few in the UK apart from Forever 21 and Bits n Pieces from the US. “The challenge is to give each market a different product suited to their local taste, but remain stead forward in quality, design and price,” says Pankaj.
The Bangladesh office of the company is seeing continuous growth; last season the growth was 20% and the next season also looks promising. “India definitely has done better compared to 2011-12. We had a dip in 2011-12, but recovered in 2012-13. Actually the YOY growth is above 100% and we can treat last season as our best in the last five years. However, I will like to add that the bottom line has gone down due to competitive pricing but the increased volumes have taken care of our bottom line. Fall bookings are really slow but we are now concentrating on the Spring/Summer next to keep the momentum on,” concluees Pankaj.
