Home / Knowledge / News / Apparel/Garments / Mixed responses from apparel brand honchos on economic crisis
Mixed responses from apparel brand honchos on economic crisis
22
Jan '09
The economic downturn which begun with the unfolding of the financial crisis in the US, has taken its toll of each and every economy in the world, developed or developing economies without any discrimination. Most of the major sectors have been affected per se. The Indian textile and apparel industry also has been influenced to a great extent by the recessionary trends prevailing in the domestic markets.

Fibre2fashion took the initiative to understand the impact of the crisis on the branded as well as apparel export industry in India. We earlier spoke exclusively to heads of the apparel brands, to which we received a mix of optimistic as well as pessimistic responses. Mr Atul Chand, Divisional Chief Executive, Wills Lifestyle Retailing Business Division, sounded very positive about the developments and the impact.

He confidently said, “Everybody is getting impacted by this recession. But, not every body will get affected equally. The fundamental of our company is quite strong. I believe the more super premium you are, the less you get affected; the higher valued you are, the less you get affected. Our economy is growing, and India is a young demographic country, that is why the apparel retail sector will never have a negative impact.”

Mr Vikram Rao, Business Director, Textiles & Apparels, Aditya Birla Group, which manages brands like Allen Solly, Louis Philippe, Allen Solly, Van Heusen etc. He did not sound optimistic when he replied by saying that, “The financial turmoil will have an adverse impact on the Indian textile and apparel sector."

"The real impact would be felt if the overall economic slow down in the US and European economies persist over a long duration, which would impact the consumer consumption in these economies. This would result not only in the reduction in demand for the Indian Textile Sector but also result in pricing pressures,” he added by saying.

Mr DPS Kohli, Chairman, Koutons, commenting on the existing scenario optimistically said, “Indian fashion brands have definitely carved a niche for themselves in the international markets. The increased fashion consciousness and the need to look good, coupled with higher purchasing power of the masses, will definitely take the industry to heights in the days to come. With the dissolving of the boundaries, the market is opening up and I think we can get opportunity anywhere,”

Fibre2fashion News Desk - India


Must ReadView All

Union Minister for finance Arun Jaitley chairing the 25th GST Council meeting, flanked by minister of state for finance Shiv Pratap Shukla (right) and finance secretary Dr Hasmukh Adhia. Courtesy: PIB

Textiles | On 20th Jan 2018

GST rate on velvet fabric reduced to 5%

The 25th Goods and Services Tax (GST) Council meeting, held under the ...

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

Textiles | On 20th Jan 2018

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

The revenue from the petrochemicals segment at Reliance Industries...

Courtesy: Cotton USA

Textiles | On 20th Jan 2018

US cotton bodies pledge to support CCI activities

Ten US cotton organisations have pledged industry contributions in...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Top executives
Textile industry, India

The event should be organised every year

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Urmil Arya

Sushila International, a well established textile organisation established ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kevin Nelson
TissueGen

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Bani Batra

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search