Beyond The Covenants

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The recent DHL-McKinsey Apparel & Textile Trade report brought to the surface that the Indian textile & apparel industry will have $16 billion turnover by 2008, and that by 2013, exports from India could grow 15-18% annually, amounting to over $30 billion. Small wonder that the players from the land of dhoti wearers are gobbling massive space in Uncle Sam’s wardrobe.

An Ernst & Young (E&Y) study too envisaged a 19% apparel export, until 2010. “Textile companies’ global plans are now no longer limited to exports only... they are generating funds to have direct presence in global market,” states Ajay Sahai, Director General, FIEO. Several domestic companies have purchased international brands (Welspun purchased Christy, GHCL acquired Dan River & Roseby’s and Creative bought Portico brands) to penetrate the first world markets and to supply to the domestic market under the same brand name. In the home market, the retail fever has gripped the prêt-a-porter industry. With branded apparel retail expected to grow at 15-20% annually, retailers like Reliance, Bharti, Pantaloon, et al are creating waves. “Apparel retail generates the maximum margin and with the retail revolution
happening in this country, almost all apparel brands will go for retailing,” predicts Maneesh K. Goal, Team Leader, CRISIL.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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And this trend of performance related exits is not unique to Dell. A survey of 2,500 largest public sector companies for 2005 by Booze Allen Hamilton reveals that North America saw a high CEO turnover of 16.2%, out of which a record 35% were performance-related departures. Home Depot CEO Robert Nardelli, Scott Mcnealy of Sun, Bill Ford of Ford Motors, Carly Fiorina of HP, Michael Eisner of Walt Disney and Juergen Schrempp of DaimlerChrysler are some of the popular examples of people who went through the CEO revolving door.

CEOs are increasingly expected to reform age-old maladies in unreasonably short spans of time. Research by Spencer Stuart shows that CEOs of top S&P 100 companies are more likely than CEOs of remaining S&P 500 companies to spend their entire working lives in one firm. Moreover, ignorance of succession planning and over dependence on an individual, as in the case of Dell, is risky. Michael Dell should have remained a mentor behind Rollins rather than jumping into the fray once more. But then, could Michael afford to fall out of favour with the deities of Wall Street?

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Love in movies, malls and MTV

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From Google changing its logo to suit the occasion, to TV channels customizing their programmes for the V’day, everyone is using love to promote themselves. Story lines of serials are changed to fit the event, so Jassi of Jassi Jaisi Koi Nahin receives a Valentine gift from her boss Armaan on this day. Not to be left behind, Star Plus started a contest where you could mail Valentine messages to the characters of its popular serial Kahiin To Hoga. The best message would have won a dinner date with the stars of the serial. Zee Cinema came out with a whole movie festival around the love theme called Dil Deke Dekho.

This day of love is loved by the retailers, and where else is this more evident than in the malls. They are designing promotions in such a way that one can spend the whole day there. Keep spending, and let love keep flowing. Not surprising then, Fun Republic in Chandigarh created a record of sorts when 40,000 footfalls were clocked on 14th February (in 2005); and the McDonald’s outlet in their mall achieved its highest per day sales in the nation, at this very mall. Not just the mall, a whole lot of other brands have begun earmarking this day. MTV hosts its MTV Asia Awards bash on this day. Cashing in on love, the theme for the bash naturally is ‘Love’. Not just this, the Chicago based Wrigley decided to venture into chocolates just days before the nation, or rather the world, got into a love-frenzy. It bought a premium chocolate company in Russia just in time for Valentine’s Day!

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Source : IIPM Editorial, 2007

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative

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Sounds like a good idea now, but there weren’t many buyers (read ‘investors’) for it when it started. After depressingly failing to convince more than 30 venture capitalists and other investment firms for almost 6 months, Ashwin raised $200,000 from an angel investor. Eventually, the company raised $10 million from Westbridge Capital and started expanding its operations and aggressive marketing. The tourism boom in the country has thrown up a plethora of business opportunities, and many competitors now surround Travelguru, including MakemyTrip. com and Yatra.com, among others. Nevertheless, Travelguru claims to pioneer the online hotel bookings across the country. With competition building up in this arena, Ashwin isn’t bogged down as he elaborates, “We modified world’s best practices to suit the Indian scenario, and our services are a result of careful analysis.”

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Source : IIPM Editorial, 2007

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative

A twist in the TOI-HT tale!

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One doesn’t get to see a lot of high profile media launches everyday or every month even every year. But, when two newspapers launch one after the other (within a week) tongues do lash. February saw the launch of Mint, the pink paper from Hindustan Times and Metro Now, Delhi’s first morning tabloid at Re.1 (a joint venture product between Times group and HT). But, what makes eyes roll is the past of their promoters (TOI and HT are cut-throat rivals) and the irony of their new launches.

Consider this: Since Metro Now is a morning daily, it will compete against TOI and HT (that is with the offerings of its own promoters). “Not really,” however, says Rahul Kansal, Brand Director, TOI. “...new product develops new users rather than cutting out the already existing ones. Youngsters, who might not have been into newspapers at all, will now read Metro Now, an abridged version of detailed news.” The newspaper is being positioned as a fun paper and is said to be strategically placed against tabloids, Today and Mid-day.

Also, while one-time rivals create a new market, their rivalry is far from over! HT’s business paper, Mint is supposed to take the market leader Economic Times head on,
(from the TOI group). With two fresh products to savour, keep a watchful eye on the
duo’s crusade against each other and their joint fight with the others. India Today’s daily and DNA is coming to town too. It will only get hotter!

Edit Bureau: Neha Gupta

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Source : IIPM Editorial, 2007

An IIPM and Malay Chaudhuri – Arindam Chaudhuri Initiative