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As per the industry forecasters, the textile majors are planning to take hold on the readymade garment market by entering into complete entire value chain. Players that are not making fabrics for kidswear and sportswear, may start producing the same to enter this segment.
The suiting brands are also picking up the trend, with the integrating fabric and readymade garment under the single brand. S Kumar's Nationwide Limited takes lead with introducing Belmonte brand in both fabric and readymade garment apparel. Other players like Mayur Suitings and Donear are also planning to enter in the readymade garment market. Arvind Mills is planning with the usual fabric and readymade garment apparel strategy in the men's casualwear segment.
Apart from the above-mentioned strategies, there is one more initiative to rule out in the readymade market that is "foreign collaborations". Textile Company based in Rajasthan, Banswara Syntex shake hands with French readymade apparels major Carreman. It is a joint venture initiative with Carreman Michel Thierry. The joint venture company is called "Carreman Fabrics India".
Mr. Dwarka Das Agarwal ventured in the luring exclusive menswear segment in 1998, with casual brand TNG. He sensed the global trend of relaxed cotton casuals was in fashion ever then. Many brands, such as Blackberrys, Freelook, Biba, Stori, Essence, Moustache, Natalia, Shapes, Ruff Kids, Koutons, LFC, Upper Class etc. are performing well in cut throat competition in the ready made garment. A Hyderabad based player, Priyadarshini Spinning foray the readymade garment segment by establishing a shirt manufacturing unit at the Garment Park in Hyderabad. It is also collaborating with local and international players for marketing its shirts range.
Creation and focusing in the value chain strengthens the smaller players. The main factors where the brands need more concentration are designing, production, quality and merchandising. But, the designing is the most significant of the value chain, which requires maximum focus. The merchandising is noteworthy factor stage for the smaller players, as involvement, creation and fabric selection adds value to the creation. The retailing is also an important factor for the smaller players. They may face problem if their merchandize remain for long on retail shelves, since the value of the fashion drops, resulting increase in inventory costs.
Conclusion:
Today, the buyers of ready made garment segment are aware of the running trends, and demand the newest in fashion and products at a reasonable cost. At the front position of this evolution are the smaller players, which private labels that are thoroughly transforming the dressing way of men, women and children. With the supply chain limitations eased, organization in real estate markets, and rationale tax structure, the readymade garment segment has become more lucrative and it is anticipated that the readymade garment segment will be the main segment in the next five years.
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