CEO & Managing Director Anubha Industries
Need of hour is to ensure that there is trust in the system
Headquartered in Surat, Anubha Industries is a specialist for sustainable denim and piece dyed fabric solutions. It is part of the Pratibha Group of companies, having a rich history of over 30 years in textiles and manufacturing. In a chat with Fibre2fashion, Aditya Goyal, CEO& MD of Anubha Industries, speaks about the current challenges the textile industry faces due to COVID-19 and his suggestions to fashion brands and retailers.
Amidst COVID-19, factories have reported cancellation of orders from brands/retailers. How do you view the current situation?
The reaction of brands is not something new. Most brands have always resorted to cancellations and price negotiations as and when the economic environment does not suit them. All of them have strong legal advisories and they do not refrain from taking knee-jerk actions to protect themselves. This was expected and it is happening. It will expose a lot of brands and retailers and there will be a lot of changes in the supply chain matrix.
What are your suggestions/inputs to fashion brands/retailers on tackling these issues?
Brands and retailers need to realise that their profits till date have been due to the products they are selling and the investment in those products have been done by their supply chains. Their capacity to absorb shocks is far higher than their supply chains capacity for the same. The need of the hour is to ensure that there is trust in the system, there is a commitment towards maintaining cash flows and there is a commitment to ensure that the supply chain remains available to react immediately to the challenges that are going to be created when the lockdowns are eased.
What steps are you taking to tackle order cancellations?
There is not much which can be done to tackle the current challenges. The priority right now is to ensure that our people are taken care of. It's going to be a new world when we reopen and how we do business going forward will be defined by the space available in the industry and whether it is enough for everyone to maintain their presence. (PC)
Published on: 14/04/2020
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.
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