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Garment exporters tread into local markets
30
Aug '10
Quite a few clothing manufacturers in India, who have been supplying goods to reputed global garment and accessory retailers, are now planning to launch their own brands in India, to take advantage of the vibrant domestic market.

The organised garment and accessories retail sector in India is valued at around Rs 320 billion and is projected to increase to approximately Rs 900 billion in a matter of five years that is by 2015.

Those companies which are planning to enter the lucrative retailing sector are hoping to attract overseas investors or tie-up with global brands, as, as per current government of India policy, 51 percent FDI is permitted in single-brand retail.

The main reason is that the economies of the European Union and USA, have still not fully recovered and since these are the biggest export markets for Indian apparel exports, these companies, would prefer to diversify and retain the level of operations.

Amongst Indian apparel manufacturers, who are firming up plans to launch new brands or expand existing brands are Mandhana Industries, Orient Craft, SP Apparels and the South India based Royal Classic Group.

Speaking to fibre2fashion, Mr Sudhir Dhingra, Director of Orient Craft, which is one of the biggest clothing exporter from India said, “It's true that the garment exporters have also started to focus on domestic retail market but in my opinion, it's not meant to replace the export market for most of us.

“Currently, very few domestic retailers have the ability to place a reasonable size order as compared to an average export order but as Indian chains grow in size, their volumes would also become attractive to the garment export community.

“So, it's not true to say that garment export community is shifting their focus to domestic retail market. At best, it could be a developing opportunity on the horizon.

"The biggest challenge that the garment export community would face is marrying the expectations of domestic retailers to their own but overtime both sides would learn to work with each other in order to succeed”, he concluded by saying.

Fibre2fashion News Desk - India


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Courtesy: Business wire

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