Beyond The Covenants

MANAGEMENT GURU

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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