See how to open an international brand apparel market in India
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| Date:
2013-05-24 12:38:40
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4744
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Stand tall as selling quasi-
- To see how to open an international brand apparel retail market in India
In recent years, India‘s textile and garment industry chain in the global role, in addition to a corner of the manufacturer, but also has become the representative of the emerging consumer market. Garment Manufacturers Association of India (CMAI) expected in the next few years, the Indian fashion retail market will maintain strong growth in 2020, the scale of the fashion retail industry in India will increase the current $ 40 billion to $ 125 billion. Whether it be local garment enterprises in India or on the desire to have as an international brand, how to dig through the full range of key elements of the value chain, to grasp the opportunities in this emerging consumer market is the need to work together to think about.
At the meeting, the international brands to open up the Indian market experience sharing, the Indian brand in the global market‘s role become a hot topic. Business models and market characteristics of the study also raised the concern of the industry.
Show the brand‘s core values
CMAI President Rahul Mehta (Rahul Mehta) pointed out that India‘s textile and garment industry‘s future growth process, retail industry will play an important role. The domestic brands will need to understand the product positioning, and how to enhance the brand‘s reputation.
International fast fashion brands Marico CEO Mariwala that innovation is essential to the success achieved industry channels. "Companies need to stick to their core development strategy, and the depth of excavation its potential. Example, Marico‘s brand core element of coconut trees and sky blue, we all have to develop around this element. Until now, each of our new series can see this pattern or color. "
Innovation takes time, and bring innovative ideas into action process is also very important. In India, the retail market, a brand needs to define its core values, and through various forms to show. In addition, to maintain growth momentum, brands have a cautious attitude is also essential. Domestic brands in India and want to tap the opportunities in this international brand, the market is large enough, and showing tremendous growth potential, in this context, to show how to maximize their advantages? Indian Industry experts pointed out that the current consumer trends, online and physical sales to join forces in order to better develop the market. Similarly, India‘s apparel manufacturers also need to build their own brands, so as to gain the right to speak in the bargaining.
Attention to market demand variables
With the increased openness of the Indian economy, the fashion industry has become global brands and retailers to attract an important sector. As Trrain brand‘s founder BS Nagesh said: "foreign brands in the Indian market for the development of a very important point is how to treat this market for large retailers treat the Indian market, they will consider whether the size of the market within five years up to 1000 billion dollars, 1.2 billion of the population could consume $ 1 per person, ultimately creating a market value of $ 1.2 billion for small and medium brands, you need to consider how to meet the needs of local consumers. "
Marks & Spencer (M & S) in India already has a stable customer base, at present, M & S business in India with Indian company Reliance Industries (Reliance Industries), a subsidiary of the shares in 51:49 joint venture. As part of the transformation of M & S strategy, its a new concept store opened this year in Chennai, India British consumers brought a wave. and found that the changing market opportunities. "
In most brand appears, the Indian market is the right direction. potential is reflected in the intensity of the fashion consumer products on. fast fashion is our strength, and I believe that our future products will be more popular in the Indian market. "
Understanding of local needs to be profitable
Every brand wants to maintain consistency in the global market, however, Shopper Stop‘s business director Gopal Asthana said that in the Indian market, we must adhere to this approach to development is not easy. but lack the design for the local market. "
Designed for the Indian market highlights the importance of an array of products, at the same time, international brands also need to address local procurement issues. High-end fashion denim fabrics, as well as footwear. "
In addition, the high cost of global retail brands in India also poses a challenge for revenue-generating profit. Basic earnings. "Nagesh said.
Another important issue is through efficient supply chain to help the brand to maintain profitability. . "Gautam said. |
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