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As part of the Centre’s efforts to position India as a fully integrated, globally competitive manufacturing and exporting hub for the sector, an announcement to set up mega textile parks has been made by Finance Minister Nirmala Sitharaman in Budget 2021.
“A scheme of mega investment textile parks will be launched in addition to the PLI scheme,” Sitharaman said. She added that 7 mega textile parks will be launched in three years as part of the scheme.
The mega textile parks will have integrated facilities and quick turnaround time for minimizing transportation losses, eyeing big-ticket investments in the sector.
“The development of seven mega textile parks over the next three years should help the Indian textile and apparel sector become globally competitive, lead to more investments and thereby create employment opportunities. This announcement in addition to the Rs 10,683 crore earmarked under Production Linked Incentive scheme is expected to reduce the higher transaction costs and transportation losses associated with textile exports, which have been eroding its competitiveness over time,” said Neeraj Bansal, COO- India Global and Leader – Supply Chain Re-alignment, KPMG in India.
“The announcement to set up 7 mega textile parks with plug-and-play facility in 3 years will unlock the potential of new markets for development and provide an impetus to real estate assets, including logistics and warehousing,” said Anuj Puri, Chairman – ANAROCK Property Consultants.“With focus on Aatmanirbhar Bharat, announcement of establishment of 7 textile parks by Modi government in Budget 2021 should be welcomed with open arms. It’s a big boost for the local textile industry. And, this will help India become a world leader in textile sector. Hon’ble Union Finance Minister Nirmala Sitharaman in her Union Budget 2021 has clearly conveyed a message that this government believes in giving a big shot in the arm of textiles and local manufacturing with special focus on Vocal for Local,” said Anuj Mundra, Chairman & MD, Nandani Creation.
The textile ministry had recently said a scheme and a Mega Integrated Textile Region and Apparel (MITRA) Park, in over 1,000 acres of land with state-of-the-art infrastructure, common utilities and Research and Development (R&D) lab, are under consideration.
“When we start looking at some of the problem statements, we see how we are not there yet with respect to that problem statement. We take initiatives to solve that problem and as we are thinking ahead of rest of the players, it can be termed as an innovation, but that is not the intent,” Nagaram says.
Amy Miles served as CEO of Regal Entertainment Group beginning in 2009, overseeing one of the world’s largest theater chains until 2018 when the company was acquired by Cineworld. While at the helm, Miles built a reputation as a strong operator and one of the most influential figures in entertainment, as she led the Regal team to compete and grow in an era where streaming entertainment services began disrupting the theater industry. Miles is also an experienced board member, currently serving on the boards of Norfolk Southern Corporation and ASM Global.
Over the few past years, brands have made conscious decisions to better understand their supply chain with a core focus on sustainability and transparency in clothing production. In light of this, the TENCEL™ Modal fibers with Eco Pure technology are identifiable through a special identification technology, making the eco-fibers identifiable throughout all stages of the textile manufacturing process.
Convenience, accessibility and affordability have catalyzed e-commerce as one of the most preferred mediums for kidswear retail. The kidswear category accounted for approximately 20 percent of total sales in apparels on e-commerce. The rising popularity of shopping kidswear online is evident from the growing demand from customers. Both metropolitan as well as Tier II and III cities have shown great enthusiasm for online shopping and this will only grow in the coming years.
Modern parents and children are much more aware and conscious of what they are wearing and how they look when they step out of the house. Along with the growth in India’s purchasing power, there has been a steady rise in the number of image conscious parents who want to dress their children as per their definitions of fashion.
In this digital age, small clothes have proven to be big business. Owing to the growth potential of the kidswear segment, many international brands have entered India in last few years.With emergence of e-commerce, markets that were unknown or unreachable have opened up, thus boosting growth of kidswear in India. As kids are graduating into consumers earlier than before, brands now increasingly want to shimmy up to them, engendering hitherto unseen growth opportunities for all players across the sector – right from brand owners, suppliers, to distributors and retailers. Brands that are steadfast on getting it right will have to do so with the right product assortment, distribution channels, better visual merchandising, and focused advertising and promotional strategies.
South India has good modern retail options and the customer is not very different from the rest of India. Cities are gradually becoming more cosmopolitan and this has its own challenges for retail. There is availability of good quality real estate in the markets and Indian wear continues to be strong in these markets and advantageous to us as retailers.
USP: LimeRoad has a supplier network of 10,000+ manufacturers who inject fast fashion into the system that goes from design to live to site in less than 30 days, with winning styles getting established in 48 hours. Every user gets a completely personalised experience the app changes for each person every minute, powered both by large-data driven algorithms and the community of stylists. Users, therefore, discover fast fashion unlike anywhere else in India.
On the potential being observed from non-metros, Jacqueline Kapur, Co-Founder and President – Ayesha Accessories says, “Ayesha Accessories’ online sales are approximately 10 percent of the total sales. We believe that the e-commerce market has an incredible potential for growth. With the globalisation of India and Tier II and III cities becoming more and more westernised in their fashion apparel approach the fashion jewellery category will be in demand as well. The online market gives the customer the easy access to products which might not be yet available off -line in the smaller cities. We started our sub- brand for kids accessories, Lil Star, in 2015 with a small range of products. The exceptional response of the young mothers encouraged us to enlarge the range and this financial year Lil Star accounts for approximately 25 percent of our total sale. Hair accessories are definitely leading the sub-category and the demand is only growing.”
“The ongoing innovation in cellulosic fiber technologies and eco-responsible production processes has witnessed more sustainable fiber alternatives across the textile value chain. This has provided businesses and brands with new opportunities and perspectives to enhance product quality and improve sustainable practices. The introduction of Eco Pure technology for TENCEL™ Modal fibers is providing brands and consumers with great comfort and more responsible environmental options. With sustainability in our DNA, we will continue to review customers’ feedback to develop and produce high-quality fibers that suits their needs and preferences,” said Florian Heubrandner, Vice President of Global Business Management Textiles of Lenzing.
Over the years, the brand’s product range has also seen a continuous expansion – it was one of the fi rst brands to launch kurti suits as a category in 2015 and also took the lead in enriching the consumer experiencevia digital interventions like inventory linked large format content displays in stores and Omnichannel retailing.
Manoj K Agarwal, CEO, Viviana Mall says, “We have witnessed a positive growth in this category for the past 3 years at an average growth of 9 percent YoY. Optimisation of the store size is the key – The average area that kidswear retailers look at is in between 600-800 sq. ft. of carpet area. Also, the adjacencies of the category is critical. We have deliberately placed the category next to our FEC and multiplex so that the footfalls and visibility is at the optimum level. Our kids zone has brands like Mothercare, Disney Kids, UCB Kids, adidas young athletes, US Polo Kids etc.”
Soch is an ethnic fashion brand for the modern Indian woman. With the evolution of the woman, her needs, desires and tastes, the Soch product line is also constantly evolving. As a brand, we give our consumers a range spread across occasion and casual ethnic wear, however, we believe that it is our occasion wear range that gives us a distinct space in the mind of the consumers. We believe that a well-priced offering in the premium occasion space is a genuine gap in the market, especially if the consumer wants to look special, and not like every other woman.