Apparel Online India Magazine January 1st Issue 2019 | Page 44

BUYERS APPAREL RESOURCES NEWSLETTERS FACEBOOK FRIENDS To subscribe, send us an email at [email protected] Join more than 10,000 people who are already fans of Apparel Resources on facebook. Search for Apparel Resources at https://www.facebook.com/apparelresources/ November 16-30 Sears files for Chapter 11; becomes a cause of worry for top Indian apparel exporters July 1-15 Stanley/Stella may start sourcing from India “I can’t promise, but there is a good chance that we start sourcing from India as we are growing and may need some more factories.ˮ – Bruno Van Sieleghem, PR, Sustainability and Internal Communication Manager, Stanley/Stella Sears Holdings has filed for Chapter 11 of the Bankruptcy Code in the US Bankruptcy Court and has announced immediate closure of 142 stores out of its 700 remaining stores this year, its apparel suppliers in India are worried about their payment as well as about further orders. “Already market feedback was not good about Sears Holdings, so we reduced our working with the company. Now, we work on and off with Sears.” – CEO of one of the top apparel export house of Faridabad March 16-31 Buying Agencies’ business down; companies are on toe “I have greatly downsized the agency business as the margins are too low now and lead times are getting too difficult. I don’t do anything in India but am doing for Bangladeshi market. Located in Vizag, Andhra Pradesh, BIAC, which is a part of Colombo, Sri Lanka-based Brandix Lanka, is a designated 1,000-acre duty-free enclave established under Special Economic Zone (SEZ) scheme that enjoys foreign territory men’s trousers, shirts and sweaters and that too for 3-4 customers only.” – Roopak Malik, MD, Textiles Sourcing Limited May 1-15 June 16-30 Patanjali opens sourcing office in Noida for apparels Sources told Apparel Online that the office of the company is very attractive and well- planned, and activities are on to source nearly 11 lakh pieces before the launch, which are expected during the festival season, near Diwali. Some of the top export houses across India are in touch with the company and for some of their exporters, domestic market is quite new. Though one of the senior officials of the company shared that there is no defined target for choosing a vendor, it was pointed out that small and big manufacturers that fit into the company’s business parameters, can get associated to supply merchandise. KN Singh, CEO, Patanjali Ayurved Ltd. (Textile Division) US buyers seem positive…! Boston International, Massachusetts which grew by 12 per cent last year, is expecting similar growth (10 to 12 per cent) this year too. India’s Heritage is also doing well and the current year also looks good for them. The company’s business has grown consistently year-on-year. July 16-31 Buying agents of hard goods adding apparel as growth opportunity “Overall textile is nearly 30 per cent of our business while rest is hard goods, but now we see good growth in apparel and accessories segment too. It is interesting for us and we anticipate at least 10 per cent growth in the segment. Though our core business will remain hard goods, but increasing enquiries of apparel motivates us to explore the garment section.” – Rajesh Singh Negi, Director – Sourcing & Inspections, Sourcing Solutions India 44 Apparel Online India | JANUARY 1-15, 2019 | www.apparelresources.com