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Industry will consolidate in 5 years: Pallak Seth
06
Jul '17
There will be more consolidation in the textiles industry over the next five years than in the last 30 years, according to Pallak Seth, Founder and Vice-Chairman of Hong Kong-headquartered PDS Multinational Fashions Ltd. "It is being said that almost 10,000 stores will close in the US alone and this includes apparel retailers, big established names that are going out business. The business is increasingly getting more fragmented."

Seth made these remarks over an interview with Fibre2Fashion. 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.

The PDS founder said, "However, on the B2C side, there is a lot of opportunity for people who come with smaller brands and sell them online. The consolidation is going to happen on the suppliers’ side. On the retail side what has happened is that all the big players are getting affected because of disrupting technology. With online players coming up, the barriers to enter are lower on the retail side. The designers can come up with products and sell it on retail platforms like Amazon and few others.

"Earlier, for people to get into retail B2C business meant a lot of investment in stores and other infrastructure. But today, Amazon is acting like the landlord of the internet. If you are able to come up with products then you can sell them on an online channel. These kinds of players are taking up the market share of established players."

To read the complete interview subscribe to Fibre2Fashion now.

Fibre2Fashion News Desk – India


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