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Convergence of markets blurs the gap between global and domestic business

by Deepak Mohindra

16-December-2018  |  4 mins read

The last issue of 2018 is ready… and it means a whole year gone-by discussing, debating and reporting news and views from the industry. The most significant change that Apparel Online has seen this year, is the increased focus on the Indian retail market.

I am sure my sharp readers must have noted this shift… No, I would rather like to call it an addition, not a shift because we will continue as before to be the ‘eyes and ears’ of the garment export industry.

The focused attention that we have given for two decades on the export market will not be diluted, but added opportunities in Indian retail will give exporters/manufacturers new options to grow business in a difficult global environment. After all, markets are converging, so why not manufacturing!

What we have added to the pages of Apparel Online, is an acknowledgement of the growing stature of Indian retail in the textile value chain.  How can we ignore the buzz around Indian retail and its growing manufacturing needs?

In fact, the excitement surrounding the growing fashion retail in India has created ripples not only within the country but also on a global platform. Global names like Zara, H&M, Mango, Guess, United Colors of Benetton, GAP, forever21, Levi’s, adidas, Nike, to name a few, have already made their presence felt and at least 100 more brands/retailers are set to make their foray into this market in the next couple of years to cash in on the big opportunity.

Not to forget the Indian retailers and brands like Arvind Lifestyle Brands, Future Group, Reliance Retail, Shoppers Stop Ltd., V-Mart, V2 Retail, AND, Allen Solly, Van Heusen, Being Human, etc., that are also emerging strongly in the domestic market.

As a knowledge platform that has always strived to keep pace with the evolving dynamics of the business, Apparel Resources (publisher of Apparel Online) has initiated a sourcing event – Apparel Sourcing Week that will bring to India the manufacturing capabilities of the Asia-Pacific region for the product needs of the growing retail market in the country. The two-day event, to be held in March 2019, is being hosted by the ‘retail capital’ of India, Bengaluru.

Given the size and diversity of the Indian fashion retail market, there’s no better option than forging new tie-ups with suppliers from the established manufacturing destinations of Bangladesh, Vietnam and China, besides India. Flexible, price-competitive and committed as they are, manufacturers from these Asian manufacturing strongholds are the best bet to meet the demands of the rapidly growing fashion retail, which is set to touch a whopping US $ 115 billion by 2025.

The retailers have responded very positively to the event and to make it more worthwhile, a series of six seminars on the most concurrent topics of the industry have also been added to its kitty. So, the Apparel Sourcing Week 2019, besides bringing together the key manufacturers from the region closer to the Indian retail market, will also have industry-oriented discussions by curated panel of industry experts. The discussions will ensue on topics which have wide ranging, far reaching implications on ease of buying and sourcing and will excite every stakeholder.

As we move into 2019, the team at Apparel Resources is very upbeat and excited to be putting up such a great show together, which will in the coming years, become a stand-out platform for sourcing in Asia for Asia!