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Chairman & CEO Yadu Nandan Fashions
Do you see the growth of western wear in India as a roadblock to the growth of the saree industry in India?
Yes, definitely. Increasing demand for westernwear is blocking the growth of the saree industry. But it is a part of life, and people will change according to time. We cannot block anybody's thinking and wish on what they want to wear. The demand for westernwear is growing day-by-day, but most of the materials from which these outfits are made are from Surat itself. So if there is need, we will make westernwear too.
How is the demand for sarees from the overseas markets?
There is a huge demand for sarees in the overseas market, because of a large number of Asians living there and the craze of sarees among foreigners. The growth of the online market has made it easy for them to buy a saree. This has led to a huge growth in the overseas market.
Have sarees been successful in taking the Indian fashion industry to a global level?
The Indian fashion industry knows the demand and curiosity for sarees on a global level, as a lady looks totally different in this attire. It has been successful in making our industry shine.
How do you view the tussle between online retail and brick-and-mortar stores? How far has online retailing been successful for you?
As we all know, the online market is growing day-by-day. It has been very useful for those who are making right quality products at the right price. Only the one who knows the concept of online selling should sell through the online market, because there are so many advantages and loopholes. It is assumed that return of products sold online, particularly sarees, is 30 per cent- which is huge. Retail stores are definitely affected, because the customer gets a huge amount of discount. Also, it removes all barriers like wholesalers, agents and retailers who directly affect the price of the product, which in turn benefits the customers.
Who are your competitors? What is your strategy to tackle competition?
Everyone in the market is our competitor, because every day there is demand for new products, new ranges and changing customer choices which are difficult to predict with 100 per cent accuracy. These days marketing factors and rate factors have also gone up as the customer believes in brand, quality and rate. So, we have to concentrate on these five major factors:
• Marketing strategy
• Brand image
• Market surveys
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