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Chairman and MD Siyaram Silk Mills Limited
Textile industry is majorly dominated by the unorganized sector
With Fibre2Fashion Correspondent Cindrella Thawani on Face2Face interview, Poddar talks about the branded segment as well as opportunistic element of unorganised sector in the country.
Siyaram's caters as the leading producer of blended fabrics in India. Along with, it has over 40,000 brand outlets across the country.
Ramesh Poddar serves as the Chairman and Managing Director of Siyaram Silk Mills Limited. Besides, he is the son of renowned industrialist Dharaprasad Poddar.
After completing his graduation degree in Science in 1978, he joined family business with having interests in textiles, paper and rubber products.
Moreover, he is a member of textile committee to the Government of India, and has represented notable associations like FAITMA (Federation of All India Textile Manufacturers Association) and TIMA (Tarapur Industries Manufacturers Association).
You have been growing on pan India basis with your brands exclusive outlets. How do you find its market growth in India as well as in which areas?
The Siyaram Fashion Avenue (SFA) outlet marks a turning point in the history of Siyaram’s, as it marks our foray into specialized retail.
Our strategy is to offer all options of clothing under one roof and yet be different from the multitude of retail stores that are mushrooming across the country. From fabric to fashion – the Indian male will now have a single window option.
We have 100 exclusive shops and we will add another 30-40 stores. Since it will be mostly through franchise, we will not have to invest much.
The company is confident that chain of its own shops will work as catalyst for increased brand awareness and will help its network of multi-brand outlets (MBOs) in increasing traffic at their shops.
How do you see the fabric market of India? Moreover, what kind of challenges you envision?
Textile industry is majorly dominated by the unorganized sector. There are very few players in the branded segment; as many players could not survive the ups and downs of the textile market and have been wiped off.
Being one of the major players in the branded segment, there is tremendous opportunity to gather chunks of the unorganized sector and increase our market share.
New product development is always a major challenge and we consistently keep on coming out with newer products for our customers.
How does Siyaram’s go with the competitive scenario of textile industry?
Success is never easy. It involves a lot of hard-work and dedication. Like all businesses, Siyaram’s has been through its ups and downs and yet managed to maintain the status of a market leader.
The company has shown uninterrupted growth in sales as well as profitability. Siyaram’s enjoys excellent reputation in the fiercely competitive textile market and has a proven track record of leadership in its segment, so far untouched by recession and intense competition.
Your business is flourished in home textiles, as well. Could you tell us, how do you see its potential growth into our market?
The home furnishing segment is a fast growing segment. This segment is largely dominated by unorganised, local and imported fabrics, there are barely few organised players operating on a national level in this space.
At Siyaram's, home furnishing is a modern luxury at affordable prices and with the equity and the penetration that its brand has in all the markets across India. We hope to piggy ride on this and grow the business
What are your objectives and principles towards Siyaram’s?
Siyaram’s is founded on the principles of mutual respect and appreciation for human capital. It has been our philosophy to provide its customer value-for-money products, world-class quality and the latest in international style and design. We have stayed contemporary with a vision well-focused on the future.
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