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Interview with Puneet Jain & Yatin Jain

Industry Speak
Puneet Jain & Yatin Jain
Puneet Jain & Yatin Jain
Directors
Odhni
Odhni

Plan to open 30 stores across India

Odhni is an indutva or ethnicwear brand started in 1999 by the Jain brothers with its first retail store in New Delhi. The company owns three retail outlets with plans to expand across India with 30 stores. Directors Puneet Jain and Yatin Jain discuss the indutva market and their game plan for future.

Why did you choose to get into indutvas or the ethnicwear segment? What is the size of the global market for indutvas?

Indutvas or Indian ethnicwear is something that people can't stop drooling over, no matter how popular westernwear becomes. From small family gatherings to the grand festive celebrations, women's desire to flaunt the elegant and graceful Indian beauty knows no boundaries. And, it is not only from the Indian women that indutvas receive love from, but it also receives admiration from non-Indians and Hollywood sensations. This makes this market most lucrative amongst all, and accounts for 71 per cent of entire womenswear market. When we started Odhni in 1999, we saw an increasing demand for designer wedding trousseau and traditional wear as these enliven the festive mood at any occasion. So, we decided to tap on customers actively looking for indutvas that have both quality and price par excellence.

Which are your major markets in India and abroad?

Presently, we have market presence in Delhi, and we are aggressively working to strengthen our foothold in the National Capital Region as well. Keeping in line with the goal to achieve ₹1,000 crore turnover and pan-India presence by 2025, we aim to foray first into potential markets across north India.

What is the retail presence of your brand?

We have not tied up with any other retailer for selling our merchandise. All our dresses are exclusively available at our stores in Nishant Kunj, Pitampura and Vikas Marg.

Which are your best-selling products and which price-points work well?

Our prime products are lehenga, kurtis, sarees, gowns and premier fabrics. The most sought-after range is ₹50,000 to ₹1 lakh.

What is the return rate for online sales?

The return rate of our merchandise that is sold online always remains less than 3 per cent as we ensure that the customers get the desired product in excellent quality and size on time every time. We also offer our customers the flexibility to return the purchased products in store, though several terms and conditions do apply.

Do you have your own manufacturing facility?

We do not have our own manufacturing facilities because we source our products from some of the best apparel designing brands.

How frequently do the collections change online and offline?

Fashion online keeps changing now and then, but when it comes to designer indutvas, a fashion trend stays for at least six months before evolving into something more incredible and fad.

Please share details of the last two fiscals and the expectations for the next two.

Odhni has been growing at a flashing speed with more and more customers and luxury indutva brands getting associated. Last year, we achieved a turnover of ₹80 crore, which infused in us the confidence and determination to achieve 150 per cent growth in the current fiscal.

What are the challenges that the Indian apparel industry is facing?

The Indian apparel industry is struggling with counterfeiting. Clothes with fake designer labels are available in the market aplenty at cheaper rates that plague the original brands. The Indian fashion industry is largely unorganised but holds tremendous potential to strengthen India's economy, especially when demands for indutvas  is soaring high in the Asia-Pacific and Europe.

Do you plan to add more products or expand your retail presence?

Yes, we have been strategising to diversify our product portfolio in the coming years. And, as far as our retail presence is concerned, we are planning to open 30 new Odhni stores in various parts of the country. (HO)
Published on: 27/04/2019

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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