Visagar Polytex, a major retailer for women's ethnicwear in India, has introduced several retailing strategies to capture the market. Tilokchand Kothari, CMD of Visagar Polytex talks about the retailing strategies deployed by the company in an interview with Fibre2Fashion.com
What is the size of the retail market for women's ethnicwear in India? What is the percentage pie claimed by Visagar Polytex?
The retail market for ethnicwear is huge. In fact, the women's ethnicwear market easily exceeds Rs 50,000 crore. It is growing at a fantastic rate. By and large, it is a highly fragmented and unorganised sector. Being in this industry for nearly a decade, we constitute only a fraction of the pie when a huge opportunity lies ahead of us or for that matter for any organised player in this segment. Our retail presence is limited to Gujarat, Rajasthan, Kolkata and recently Mumbai. We plan to expand our presence across the length and breadth of the country in a phase-wise manner.
Is the women's ethnicwear market adversely affected by the westernwear market?
I would agree to an extent. But the ethnicwear market has been growing at a steady pace too. Ethnicwear is the preferred choice of clothing during functions, festivities and weddings.
How successful has your unique franchisee model involving women entrepreneurs remained?
The home based opportunity (HBO) model was launched recently. We have already received a healthy number of enquiries in this regard. There seems to be a keen interest among housewives and working women in this scheme. We predict mass participation for the same. We have kept initial investments at a reasonable level of Rs 25,000 along with refund, exchange facility as well as credit period so that there are minimum entry barriers and women are able to do business with ease. I am sure our unique partnership-style initiative will steadily catch on and create many success stories.
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