Apparel Online India Magazine March 1st Issue 2019 | Page 42

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RETAIL LEADERS PEN DOWN
THE WAY AHEAD FOR THE INDUSTRY…
While the organised retail in India has very recently
emerged to be at par with its global counterparts,
the pace at which the retail practices are being tried
and tested has been remarkable and impressive by
all standards. The overall retail industry is efficiently
adapting to some of the best practices with a hint of
local preferences and style. The Indian retail industry is
expected to grow at 6 per cent on year-on-year basis
to reach US $ 865 billion by 2023 from the current US
$ 490 billion wherein the share of apparel is 8 per cent,
corresponding to a value of US $ 40 billion. Even as the
country’s fashion retail segment is up for a remarkable
growth in the times to come with fascinating changes
coming along the way, it is still witnessing a number
of challenges moving forward.
Every growth story has its share of challenges and
obstacles, but these need to be addressed in the
most efficient and prudent manner in order to harness
the resulting benefits. With the same endeavour,
Apparel Online succeeded in getting insights from
some of the retail leaders in the country who have well
established their brands and are faring impressively in
India’s competitive retail segment. In the last one-and-
a-half decade, many corporate giants have entered
into retailing and have successfully professionalised
this business. Also, many international retailers have
entered the Indian market and many are about to
enter to explore opportunities.
Denim has been a major part of the overall apparel
industry. Kavindra Mishra, Managing Director,
Pepe Jeans India Limited talks about the overall
segment, the challenges along the way and also the key
42 Apparel Online India | MARCH 1-15, 2019 | www.apparelresources.com
opportunities for a denim retail brand. Furthermore,
the industry is aware that success is not everyone’s
cup of tea in a market where international fashion
brands are influxing at a speed never imagined before.
Understanding the complexities attached to it, Satyen
Momaya, CEO, Celio Future Fashion, points ways
to succeed in Indian retail industry.
However, for a changing and dynamic retail industry
like that of India, strategies or the directions to success
keep changing with time. Mohit Dhanjal, Head- Retail,
Raymond Ltd., talks about solutions appropriate for
new age retail. Even as domestic retail brands are
working to up their game in the opportunity-laden
industry, Rajesh Jain, Managing Director & CEO,
Lacoste India, speaks on how international fashion
brands are chasing Indian market in order to grab
a piece of this ever-growing industry. Moving on to
e-commerce, the recent change in FDI policy for online
retail has remained a buzz for few days now. Anuj
Kejriwal, MD & CEO, ANAROCK Retail, explains how
e-commerce players are mulling means to override the
fallout and minimise the losses it could bring to the
online firms. Even as the policy change is evaluated
as being beneficial for offline retailers who have been
struggling against the online players offering discounts
and cashbacks, the industry has agreed that more
than competition, it is about coexisting together. On
the same lines, Sharad Venkta, MD & CEO, Toonz
Retail, points at the significance of bridging the gap
between online and offline retail and the efficient
confluence between the two, responding to the digital
transformation the industry is undergoing presently.