Apparel Online Bangladesh Magazine May Issue 2019 | Page 10

MINDTREE Q-and-A The inaugural edition of Apparel Sourcing Week (ASW), organised by Apparel Resources, in Bangalore, evoked overwhelming response from Bangladeshi manufacturers who want to make a foray into the booming Indian fashion retail sector, expected to touch whopping US $ 115 billion soon. Don’t you think more such regional sourcing events should be organised to exploit the emerging opportunities optimally, and what should be the frequency of occurence of such events in a year? Please share your views... Sandeep Golam Group Operation Director, Armana Group Sourcing events provide a good platform for the exhibitors and should happen twice a year, but not necessarily with the same manufacturers every time though. It is critical to understand that meaningful conversions from these events happen with time, as it takes time for the retailer to instil trust in a new country/manufacturer. More than adding a country or focusing on a few manufacturing destinations, these events should focus on all the product categories being covered in retail to make it meaningful for retailers to look forward to each edition of the show. Binod Asst. Manager – Merchandising, Li & Fung India Pvt. Ltd. I personally feel Apparel Sourcing Week (ASW) should be held twice in a year and the most suitable month to organise the same would be April, and preferably in Bangalore. I would give 10 out of 10 in terms of performance for the inaugural issue of ASW. For me minimum workable MOQ would be 500 pieces (fashion) and 1,500 pieces (basic) and I would also prefer to see more suppliers from India in the future editions of ASW. Also, apart from what has been showcased in the 2019 edition, I would like to see more women’s fashion items, more value-added products and trims suppliers. easily cater to their demand. However, from my personal experience, I would say that in order to exploit the capabilities of the Bangladeshi manufacturers better, Indian buyers need to have good order volumes and wide-ranging styles as manufacturers here appreciate bigger order volumes to keep the production lines running. Having said that, I would also like to add that there are also large numbers of factories which are not listed due to issues like higher compliance requirements, workers’ wages, etc. as such giving another option for the buyers with smaller order volumes. So far we have observed that Indian market demand is bit different than other countries in terms of quantities/styles and prices. However, one issue that puts doubt to India as a destination is their strong import policies; besides most in India prefer their own products (Made in India). In this context, I feel India may add some extra duties in near future like import duty/state cost/education surcharge/other surcharges, etc., which would make the import cost high, and could pose as a barrier. However, I am hopeful that business would boom for the time being. Ashish Sharma Director Marketing, Anzir Apparels Limited Sourcing events like ASW should happen twice in a year as they are important platforms for the manufacturers to explore new territories and also meet seasonal needs. But since India is still a relatively small retail market, not big enough yet for conversions to happen fast, it is better to host ASW once a year so that there is time for the players to work on the feasibility and other aspects that perpetuate long-term business.  POST YOUR COMMENTS www.apparelresources.com Khokon Chandra Kundu Director – Marketing, AKR Group First of all, I would like to thank the organisers of ASW. Although the event ought to have been organised a bit earlier, I am sure it is also right time to take such good initiative. It’s a great chance for all apparel manufacturers/ sourcing companies to get an opportunity to meet each other, understand each other's capacities while also getting to know the customers’ demands. We have a nice relationship between India and Bangladesh since a long time especially due to India’s cooperation during the Liberation in 1971, and it is becoming stronger by the day. India is a big country/marketing territory, has a huge consumer base and own brands, etc. So in this connection Bangladeshi manufacturers can 10 Apparel Online Bangladesh | MAY 2019 | www.apparelresources.com [email protected] NEXT MINDTREE QUESTION The new BGMEA team has taken over responsibilities under the leadership of Dr. Rubana Huq recently. Considering the various challenges the industry is facing, it would not be wrong to term the current phase as critical one, smart handling of which in many ways would determine the industry’s future in the coming days. Keeping the same in perspective, what should be the focus areas of BGMEA going forward, to ensure that the industry continues on its growth path? Please share your views…