According to reports, brands like Valentino, Ralph Lauren and Armani are waiting to make an entry into this segment. Where do you see your company stand ahead of these competitors?
We as a brand are positioned in the middle upper, lower upper and upper middle segment of the market, which forms the chunk of the Indian market.
Brands mentioned above are in the upper premium to premium category, which is a very small slice of the market whose growth is only 10 percent on an annualized basis, compared to a growth of 20 to 25 percent in the segment that we are catering to. Therefore, we do not think it will be a competition to us.
What is your definition for sustainability? And, where do you see the factor of sustainability as an improving or an impacting element on environment?
A clear definition of sustainability in textile industry is to maintain the profitability in business throughout the business cycle. The cotton textile industry is mainly dependent on the cotton crop globally.
The entire cycle brakes due to crop failure in the cotton grower countries. It has been observed that every three year cycle of crop failure happens in couple of countries’, which imbalances the prices of cotton and consequently impacts textile industry.
How do you see the impact of global economic slowdown on Indian textile industry and on its exports as well as what measures should be taken into consideration? Please share your outlook.
Global economic slowdown has impacted adversely in Indian market as well. The export and domestic sale has reduced down due to this slowdown. POL is dealing with manufacturing of cotton home linen items. The steep rise and fall in cotton prices impacted a lot to our export and domestic sales.
Textile industry is still facing lots of challenges due to price fluctuation with cotton. The export has fallen down due to economic slowdown and in fall with the cotton prices, globally. We are very cautious while accepting long term orders from international players.
Moreover, we are looking forward to the government of India as well, to provide better sops to the cotton manufacturing industry as a compensatory price mechanism.
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