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This year is full of challenges for textile industry - Sabare International
22 Oct '08
3 min read
Sabare International Limited has charted a path of unprecedented dimensions to cater to a discerning export market. With intense efforts, the company has been able to make its presence felt in countries like USA, United Kingdom, Europe, China, Canada and Sri Lanka.
Product line of the company comprises of an entire array of home furnishings like table and kitchen linen, window curtains, bed linen, floor coverings and decorative pillows. Sabare takes pride in presenting a superior quality and vast variety of products.
Global financial meltdown has created havoc for almost all the industries across the world. In order to get a closer understanding of the present scenario and the future of the textile market in India and overseas, Fibre2fashion took the opportunity to interact with Mr Susindran, CEO of Sabare International, and to get his view on this.
“I expect textile market to be slow till the completion of this financial year. It is because of the general slow down in USA and Europe as a whole. The international textile market will pick up from April 09 onwards. The reason behind this is most of the retailers have gone for cautious buying for the current year resulting in lower level of inventory at their disposal. While they expect a lower level of sales during this holiday season, their biggest sales season as a whole, they have not bought enough stock either. This will insulate them from the down trend for the current year.
“With mega financial rehabilitation package announced by US Government, the market and the sentiments will stabilize by March 09 in US. All the exporters should tighten their belt, look for cost cutting measures and become very competitive”, says Mr Susindran.
Discussing about the Dollar appreciation and its effects on the exporters, the Sabare CEO stated, “Dollar appreciation has not helped exporters as most of them have already gone for hedging their exposure long back around Rs40 to Rs42 levels. Probably they will get benefited during the next year if the same trend of Dollar continues as by that time, the business also will pick up and there will not be any hedging for any of the exporter at the lower rate.
“On the domestic market, once again, this year will be challenging one for textiles. However it is better than the international market. The expectation is that this will also stabilize by April 09. It is more to do with the sentiment than the actual fact. We expect all the uncertainties will be cleared by March and things will be positive from the next financial year onwards.”
Product line of the company comprises of an entire array of home furnishings like table and kitchen linen, window curtains, bed linen, floor coverings and decorative pillows. Sabare takes pride in presenting a superior quality and vast variety of products.
Global financial meltdown has created havoc for almost all the industries across the world. In order to get a closer understanding of the present scenario and the future of the textile market in India and overseas, Fibre2fashion took the opportunity to interact with Mr Susindran, CEO of Sabare International, and to get his view on this.
“I expect textile market to be slow till the completion of this financial year. It is because of the general slow down in USA and Europe as a whole. The international textile market will pick up from April 09 onwards. The reason behind this is most of the retailers have gone for cautious buying for the current year resulting in lower level of inventory at their disposal. While they expect a lower level of sales during this holiday season, their biggest sales season as a whole, they have not bought enough stock either. This will insulate them from the down trend for the current year.
“With mega financial rehabilitation package announced by US Government, the market and the sentiments will stabilize by March 09 in US. All the exporters should tighten their belt, look for cost cutting measures and become very competitive”, says Mr Susindran.
Discussing about the Dollar appreciation and its effects on the exporters, the Sabare CEO stated, “Dollar appreciation has not helped exporters as most of them have already gone for hedging their exposure long back around Rs40 to Rs42 levels. Probably they will get benefited during the next year if the same trend of Dollar continues as by that time, the business also will pick up and there will not be any hedging for any of the exporter at the lower rate.
“On the domestic market, once again, this year will be challenging one for textiles. However it is better than the international market. The expectation is that this will also stabilize by April 09. It is more to do with the sentiment than the actual fact. We expect all the uncertainties will be cleared by March and things will be positive from the next financial year onwards.”
Fibre2fashion News Desk - India
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