Fashion industry for Indian as well as International brands is poised for high growth.
Wadhawan Group is in the diverse lines of operations viz Housing Finance, Food & Beverages, Hospitality, Education, and Real Estate. It makes me curious to know the rationale behind your group’s foray in textile sector. How do you visualize its positioning in lifestyle retail?
How will you comment on current retail environment in apparel category?
Organized retail is growing at a rapid pace and with the development of new malls and high streets; we see that the fashion industry for Indian as well as international brands is poised for high growth. We believe there is a lot of untapped potential and we are very bullish about the market in the future.
Where lies the difference/s between lifestyle retail versus garment retail amongst Indian consumers?
Lifestyle brands cater to a specific set of consumers, who are evolved in their sensibilities and shopping patterns, what this means is that lifestyle consumers are highly conscious about brand image, quality, service, etc and therefore are the pioneers of a better shopping experience. They are also experimentative and open to new fashion and trends.
What remark would you put against the current excise duty on branded wear?
This would affect products manufactured in India. For importers like us the impact is negligible.
For the sector, what awaits in the proposed GST implementation?
This would help streamline many processes for us.
Generally, retailers augment their presence into womenswear or menswear line. But kidswear has a lot of scope, what say?
Yes, we agree. It is a good category with high potential.
Your group recently introduced Spanish designer- Adolfo Dominguez on its offering bouquet. What are developments on this front?
We have recently launched the brand with a strong presence in the capital, strategically located at Ambience Mall, Vasant Kunj. This is an ideal location in terms of footfall and has also found the best fit in terms of retail space and brand positioning. Subsequently we look at opening 2 more stores in the first year itself, with immediate focus being the metro cities. In all, we look at opening 25 stores in the next 5 years, targeting key tier I & II cities.
Branding for an apparel product has definitely a process involved. Has a retail franchisee like your group any role to play in this?
We try as a franchisee to be as close to international formats of stores as well as provide similar merchandise to retain the brand identity here.
Many thanks for your valued comments, Mr Zutshi!
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Published on: 09/05/2011
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.
