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Mr. Pallak Seth
Vice Chairman and Managing Director PDS Multinational Group
You are operating in 15 countries and working with several manufacturers. Why do manufacturers prefer to work with PDS Multinational?
PDS group is operating 25 offices in 15 countries. Manufacturers do not have the reach that PDS Multinational has or the customer relationship management, product development and marketing capabilities of PDS.
Manufactures also prefer to work with PDS as we provide various pre-order financing options, open LC on sight whereas most retailers today are offering longer payment terms like 60 or 90 days.
We take away most of the front end work required, book the business, and offer orders hassle free to factories. Manufactures can then focus on their strength - running their factories efficiently.
Your company has given more than 30 percent CAGR in top-line in last four years. This is highest in the industry. Therefore, please tell us that how did you make it happen.
We are company run on systems, strong SOP and most importantly a strong sense of entrepreneurship. Unlike most apparel manufactures, we are 100 percent professionally run company and an employer of choice for all textile/supply chain professionals.
We have strong incentive schemes in place that drives our team to excel. Finally, we are a truly multinational company and have management team comprising of people from various nationalities, backgrounds, ethnicities. We promote diversity in our group and this makes us a unique team, and consequently a business that facilitates growth.
How the great top-line growth will be translated into bottom-line results?
The PDS model is scalable and profitable. We run an asset light model and have about 1200 people contributing to the USD 620m sales. If we were a manufacturing company we would need at least 60,000 people contributing to this level of turnover. We are not stuck in any particular location and can adapt our business model fairly quickly. PDS Multinational Group Companies that are over three years old normally achieve a five percent bottom line and this comes from driving efficiencies and cost savings. Customers demand lower prices every season and the only way we are able to achieve a healthy bottom line is driven by offering great design input and competitive global sourcing.
How do you maintain to stand ahead of your competitors?
Generally, our competitors are small to medium sized suppliers in various markets we operate in. However, on a global scale there are only few companies which are competing with us and these companies are Li and Fung, and William E. Connor.
Please, tell us your future plans
Our future plan is to continue our growth momentum and achieve about USD one billion in revenue by 2015-2016. We are also looking at strengthening our offer in non-apparel categories and establishing a US business.
According to you, what is there that is required to be successful in business? What is your mantra for success?
To succeed in business one must be focused, have an appetite for risk, and have a strong vision.
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