Denim Club India has rescheduled the third edition of InDIGO, Asia’s one and only comprehensive denim B2B event which was scheduled to be held from 15th January, 2014 to 17 January, 2014. The event will now be held on 24-25-26 April, 2014 and the venue remains same as earlier, the International Trade Expocentre, Sector 62, Noida.
A recent report by Fibre2fashion.com mentions that, “Sustained input price increases, coupled with rising interest rates over the last two years against the backdrop of global economic slowdown, has put significant pressure on denim makers ‘margins. Against this backdrop, the depreciation of the rupee has further pushed up input costs and is forcing companies to minimize their losses while increasing sales in an intensely competitive environment.”
Based on the recent reports on the denim industry, it is evident that the manufacturers continue to feel the heat of rising input costs and the rise in cotton prices have dented the net profits of major denim players as they were unable to pass on the burden to buyers at a time when demand was already under pressure due to slowdown.
Denim Club has been closely monitoring the Indian denim industry scenario as well as interacting with key decision makers. Based on the discussions with senior decision makers and business owners representing various segments of the denim value chain regarding the current stagnancy and the prevailing negative sentiment in the denim industry, and considering the possibility that the situation might persist for a few weeks before it starts turning positive again, Denim Club has postponed the event which was scheduled for mid-January.
Denim Club believes that organizing the event in current scenario would not be very beneficial for the industry as the prevailing negative sentiment may have a strong adverse impact on the enthusiasm of participants and the volume of visitors to the event, thereby affecting the business generation prospects for the exhibitors.
Mr. R. Dudeja, Founder, Denim Club expressed “InDIGO is a unique platform for business networking of denim professionals. We want to hold on to its essence and cooperate with the industry during the rough times. This is the time to understand the pulse of the industry and the challenges being faced by the companies that are a part of the denim value chain.”
While apologising for any inconvenience the rescheduling may have caused to its exhibitors and visitors, he further added that, “Denim Club will ensure that the rescheduled event offers the same, or even better, facilities and opportunities for branding and professional networking to all the participants and visitors.”
InDIGO-3 will now be held on 24th to 26th April, 2014 at International Trade Expocentre, Sector 62, Noida.