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'Over 15-20% of brands' sales coming from e-channels'
05
Jul '17
With businesses taking the omnichannel route, over 15-20 per cent of their sales are coming from online channels, said Pallak Seth, Founder-Vice Chairman of Hong Kong-headquartered PDS Multinational Fashions Ltd. The percentage share of online sales in the overall sales could go up to 30 per cent over a period of time, resulting in brands moving increasingly onto the digital network.

"In the standard economy, they say the online business for apparel and footwear could become 30–35 per cent of the total money spent. That’s what the retailers are bracing up for. They are probably reforecasting. Their turnover could go digital," Seth told Fibre2Fashion’s Consulting Editor Richa Bansal in an exclusive telecon from his UK office.

Brands are likely to give up their stores and go more onto the digital network. It is already a reality and this will continue for the next 3–5 years. After that it is expected to stabilise, he added.

Seth is also of the opinion that the churn in the retail landscape demands that malls evolve. "They will have to become entertainment centres, food and medical experiences. There's a lot of talk about digital printing on apparel too. This is something to watch out for."

PDS Multinational Fashions Ltd, a leading designer-manufacturer for some of the world’s most popular high-street brands and retailers, is an Indian company that is looking to cross the $1 billion mark. Listed on the Bombay Stock Exchange (PDSMF) and the National Stock Exchange (PDSMF), it promotes entrepreneurship and has gone global by forging strong partnerships. (KD)

To read the complete interview subscribe to Fibre2Fashion now.

Fibre2Fashion News Desk – India


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