Mr Chaudhary, it’s a pleasure for Face2Face team to welcome you. Your company has spent over a decade now in this industry. In your view, how has the company been able to epitomize its name ‘Pratibha’ – a Hindi synonym of ‘Intelligence’, ‘Ability’, and ‘Talent’ over this span?
For us the being behind Pratibha goes beyond the literal, it embodies a constant endeavor to push the boundaries, surpass expectations & innovate outside the envelope to realize the larger goal of social well being, growth & development.
To sum it up I `ld just like to add a few lines by a great English novelist Benjamin Disraeli : “the greatest good you can do for another is not just share your riches but to reveal to him his own.”
Having started our operations with just spinning in 1997 we upstreamed our processes to integrate organic cotton fiber cultivation , fabric knitting , dyeing , printing & garmenting to complete our textile value chain sustaining 7000 employees at the manufacturing level & 28000 members at farm level in a way that is ecologically & socially relevant.
Appreciable! <br></br> So, has the global industry changed by and large in this decade?
Personally I feel the Key global trends to have shaped the industry in the past decade are:
End of quotas regime in 2005 that created huge opportunities for some developing economies marking a shift of business from South American to Asian countries, with specific benefits in Africa establishing of large capacities across entire value chain.
Secondly the biggest economic recession of all times experienced over the past two years caused huge volatilities in the market, the companies which were experiencing growth in the pre- recession era went into the mode of slump during recession causing huge volatilities in commodity prices in crude and cotton prices shooting the yarn prices to an all time high in the post recession era.
Another trend evolving in the past decade is the coming of age of fast fashion as a central pivot of successful business models like Zara, H & M, and a host of other UK retailers like The Primark, the Primark effect in UK led to a surge in throwaway cheap fashion even in the wake of rising costs of raw material forcing other global retailers in the fray to cut down their lead times and inventory levels.
Another manifestation of the Primark effect (which has seen the amount of unwanted clothes being dumped in landfill soar from 7% to 30 per cent in UK in the last five year and similar phenomenon across the world) would be the emerging class of eco-conscious consumers inclined to make a difference through their purchase of longer lasting/better quality /environmentally sustainable clothing. Consumers are shifting their focus away from disposability of goods to durability of textiles.
Global retailers like M & S, WALMART, Patagonia, and Tesco are increasingly innovating offering, exceeding their product basket of sustainable apparel products. Eco-Giants such as Shell and Toyota are also committed to do their bit in addressing energy security and Climate Change issues.
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.