Please tell us about your R & D which comes up with the two collections in a calendar year besides decipher its bottom line?
Like most fashion oriented products, the beginning of this exercise is a less glamorous than the end product. Our research and development (R&D) learns about customer preferences through basic market research, number crunch sales data, competitors’ sales analysis both of their offerings and gap analysis to determine niches which have not been filled. Finally we take all this basic or layman data and convert them in to specifications and technical attributes to help in designing and producing final products.
Bottom line is usually taken care of once the needs of the customer are identified and successfully translated into our products. See, meeting the customer expectation is the key in this business. Just creating complicated products and pieces of art do not get you there. In the process if we get both, it is great. Yet the customer needs remain our primary objective.
Recently your company has signed a joint venture with Gulf garments. How this pact will be helpful to the customers expansively?
Yes. We did start in the garments manufacturing business a joint venture with an already established company out of the Gulf region. However, we eventually acquired their stake and now the garment factory is part of the apparel division of Nishat Mills. We produce about 600,000 garments a month which is all exported to leading apparel brands of the world, especially in North America.
Our customers are quite happy with this arrangement. Earlier, these same brands would buy our fabric, send it to various stitching factories all over Asia and South America and had to deal with multiple logistical issues. Now they just talk to us and we provide them with ready for shelf garments.
At our current size we only consume about 15 percent of the apparel fabric produced in our processing facilities, so there is a lot of room for growth and I would think this section will have double digit growth for some time.
How has your company planned its compelling moves for the year ahead? Any important disclosure?
We have already expanded outside our own borders and taken our retail setup to the Gulf countries. We continue to grow both on the retail side as well as the wholesale segment and plan to enter many countries in the next few years. Opening up borders with India may present new avenues in textile trade as well.
Fibre2Fashion has a diverse global readership, and delivers unique, authoritative and relevant content. Drawing on the expertise and credibility that we have built over the years and contextualising them with our in-depth research studies, we produce authentic news, articles, reports, interviews and interactive explainers through the F2F Magazine and compendiums, among others, which help readers stay abreast with the industry trends.