Home / Knowledge / News / Apparel/Garments / Has the sheen rubbed of Indian apparel retail sector?
Has the sheen rubbed of Indian apparel retail sector?
30
Jul '12
Mr Shitanshu Jhunjhunwalla
Mr Shitanshu Jhunjhunwalla
Considering that seasonal sales discounts have begun well before their due time this year and with many apparel retailers facing financial problems. Has the sheen rubbed off the much-hyped clothing retail industry?

“There was never a sheen factor to begin with in the Indian retail scenario”, says, Mr Shitanshu Jhunjhunwalla, Director of the Kolkata-based - Turtle Limited. Set up in 1993, Turtle has bagged numerous accolades and awards. Among many it has bagged the “Best brand in the shirt category” award from Texcellance.

He explains, “The rentals for properties are very high in India and retail is a very challenging business where a very few players make profits. I think that there was a lot of buzz and hype initially in the country with a lot of investors, equity placements, new property development, new brand expansions, etc.

“But if we look at the scenario now when most of these new brands have gone out of business and a lot of malls are struggling to for full occupancy, the message is loud and clear - retail like any business is hard work and a challenge.

“A lot of PE investors have also burnt their hands in this process thus taking out most of the sheen from the industry. However, the future continues to remain bright for retail – as the brands that have got their act right are doing well across the country and are recognized for it”.

Many Indian apparel brands and retailers who expanded furiously in the last few years have fallen by the way side today, mired by financial troubles and non-performing assets.

Mr Jhunjhunwalla enlightens us by saying, “Most of the Indian apparel retailers chose to take the short-term route to grow their brands. They continued to expand across the country with no particular strategy or direction in mind and a lot of wrong decisions were made on the way.

“Most of the retailers were more marketing centric and lost focus on the most important bit – the product itself. According to me, if retailers begin to understand the importance of delivering good quality products consistently in the market, they can sustain for the long-haul”, he winds up by saying.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search