Interviews
Leather industry can weather all storms
24 Nov '08
2 min read
Although Indian economy is pressurized with global recession, the leather sector is able to weather all the stress.
Indian leather Industry aspires to export products worth US $7 billion in the next two years and is quite positive of achieving the target of $4.68 billion in the current financial year.
During the fiscal 2007-08, the industry surged by 13.6 percent to $3.47 billion compared to the corresponding period previous year.
Mr Mukhtarul Amin, Chairman, Superhouse Group, while interacting with Fibre2fashion shared his views on the recent global financial meltdown.
He says, “We feel that this current global recession will not have that effect on Indian Leather Industry as due the prevailing situation, demand for high quality footwear which is produced in Europe will definitely be much lesser and people will be buying only the medium priced product. Although the demand of even the medium priced produces will be lesser but main supplier of this range to the international market is India and China. Chinese factories are having serious problems due to increase in cost of labor in that country and their currency appreciation. Under these circumstances, India is the only major source for supplying footwear of that price range.”
Discussing the Company strategy, the Chairman divulged, “Our Company's strategy has always been to offer innovative design and a very cost effective product for the consumer and because of this strategy, we have been able to increase our business with a CAGR of 20 to 25 percent.”
“In India, the footwear industry has a very good future as we have raw material and skilled manpower at a very reasonable cost”, smilingly concluded Mr Amin.
Superhouse Group, a US $50 million group, has emerged as one of the biggest players in the industry with 15 units, with workforce of over 3000 and has its presence in over 35 countries.
Three state-of-art units involved in manufacturing of footwear ably back the marketing offices strategically located in USA, UK, UAE and Australia.
To add on, the Company is approved vendors to world-wide brands such as Wal-mart, Filanto, Auchan, Andre, Shoe Fayre, Hudson Bay, Heckel Securite, Secura.
Indian leather Industry aspires to export products worth US $7 billion in the next two years and is quite positive of achieving the target of $4.68 billion in the current financial year.
During the fiscal 2007-08, the industry surged by 13.6 percent to $3.47 billion compared to the corresponding period previous year.
Mr Mukhtarul Amin, Chairman, Superhouse Group, while interacting with Fibre2fashion shared his views on the recent global financial meltdown.
He says, “We feel that this current global recession will not have that effect on Indian Leather Industry as due the prevailing situation, demand for high quality footwear which is produced in Europe will definitely be much lesser and people will be buying only the medium priced product. Although the demand of even the medium priced produces will be lesser but main supplier of this range to the international market is India and China. Chinese factories are having serious problems due to increase in cost of labor in that country and their currency appreciation. Under these circumstances, India is the only major source for supplying footwear of that price range.”
Discussing the Company strategy, the Chairman divulged, “Our Company's strategy has always been to offer innovative design and a very cost effective product for the consumer and because of this strategy, we have been able to increase our business with a CAGR of 20 to 25 percent.”
“In India, the footwear industry has a very good future as we have raw material and skilled manpower at a very reasonable cost”, smilingly concluded Mr Amin.
Superhouse Group, a US $50 million group, has emerged as one of the biggest players in the industry with 15 units, with workforce of over 3000 and has its presence in over 35 countries.
Three state-of-art units involved in manufacturing of footwear ably back the marketing offices strategically located in USA, UK, UAE and Australia.
To add on, the Company is approved vendors to world-wide brands such as Wal-mart, Filanto, Auchan, Andre, Shoe Fayre, Hudson Bay, Heckel Securite, Secura.
Fibre2fashion News Desk - India
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