Feedback
A pioneer B2B media and publication platform connecting with Fashion Brands & Retail in India
 

12 mantras to maintain brand competitiveness in tough times

Dr. Darlie O KoshyA visionary academic leader and persuasive administrator, Professor Dr Darlie O Koshy is well known for transforming several educational institutions like the National Institute of Design (NID), Ahmedabad where he served as the Director and Governing Council Member for two terms (2000-2009). The only Indian to have served the Executive Board of World Body of Design (ICSID) for three terms giving leadership to Indian Design and NID in the global arena, Koshy is also credited with the formulation of National Design Policy approved by the government in February, 2007 and the widely known campaign ‘Designed in India, Made for the World’ which powered NID and Indian design to grab centre stage globally. As the director general and CEO of the Apparel Training & Design Centre under the aegis of AEPC since 2009, Koshy has helped set up over 200 directly run ATDC-AVI & ATDC-SMART centres across India in 24 states and trained over 3, 00,000 candidates by “Imparting Skills & Improving Lives”. Here he outlines 12 mantras for brands that would provide them a safety belt for disruptive times.

Creative Destruction: The first mantra as per him is, “adopting ‘Creative Destruction’ as an integral process of management for the organisation.” This according to him “leads brands to constantly innovate on ideas, products, processes and systems. It also helps them to avoid “Kodak Moments” of the current times of ‘disruption’ technologies”

Reorienting mindsets and skillsets: Koshy says, in order to say relevant, brands need to change both their mindsets and skillsets. He advises them to focus on the principles of ‘rethink and reimagine’

Mass customisation: According to Koshy, “the world is moving towards “mass customisation” where each individual customer now needs to be satisfied with a product- service offering through appropriate information gleaned through data mining which is now possible through “Artificial Intelligence.” Products often combine with service to become an “experience” as interpreted by each individual customer.

Intangible Vs Tangible: Koshy points out, “there was a time when brick and mortar stores assured fair return on investment but today brand & design have replaced these and get offer better returns, He advises the Indian apparel exporters and domestic brands to learn more about design thinking and branding to differentiate in the market and gain premium. “Competitiveness is not anymore in ‘labor’ arbitrage but in intangibles like: speed, design, brand and service, etc,” he adds.

Speed to market and speed to cash: Koshy says, “Fashion is all about time. And premium is paid not for designs only but also for being ahead of time.” In the apparel business therefore, one needs to perceive fashion as perishable and all processes need to be set in motion with great speed. “Hence, products lifecycle management, fast-track design development and brand management with a ‘cradle to grave’ approach needs to be in place,” he adds.

Sustainability: Earlier, brands would not take environmental concerns into account while creating products. But today brands need to have a ‘sustainable’ approach to manufacturing for both textile and apparel. “With processes like digital printing, laser cutting and laser finishing etc, finding takers, environment management occupies a prominent position in manufacturing process,” Koshy opines.

Digital Transformation: “For companies to be future-ready a complete digital transformation strategy needs to be adopted,” feels Koshy. “This may begin with basic management of the website’ and Internet’ and social media to e-commerce and beyond depending upon each company’s aspirations,” he adds.

Brands should be a part of the fashion eco-system: Often entrepreneurs fail to define their business appropriately, feels Koshy. They should perceive and work as an integral part of constantly charging and evolving ‘fashion eco-system’and use and leverage talent, technology having ‘tolerance’ to outliers to succeed in the market place.

Uberisation and Ola-OYO approach to apparel sector: Koshy believes “there is a pressing need for vendor/retailer development and ‘aggregation’ for strengthening quality, performance and speed to market” and reach and access to customers.” “Uberisation is yet to hit the fashion business and has much more at stake-no doubt,” he says.

Future Proofing: Koshy believes, “future proofing can only be done through ‘continuous innovation’ and speed to market with such innovations in order to commercialise and monetise.”

Youth driven demand: Around 500 million active Indian consumers are in the average age of 29 years. “This is the time to create value for them through the textile-apparel value chain or fashion eco-system,” notes Koshy. “If existing and new companies miss this opportunity, they will lag behind. Also, there is enough potential to focus on ‘elderly fashion’ in India as the category is expected to cross 20 per cent of total population by 2050,” he points out.

Scope vs scale: Lastly, Koshy feels “there is a need to rediscover the inherent advantages of ‘scope’ with speed i.e. meeting certain niche demand and creating larger adjacent areas to drive company’s growth.”

LATEST TOP NEWS
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

Festive season to boost pent-up demand: RAI

Festive season to boost pent-up demand: RAI

     At a webinar organized by the Retailers Association of India, retailer hoped to make up for their losses in the lockdown, with sales during the festival season. Arunkumar Nath, CEO, Levi... Read more

Spring-Summer Collections 2021 to fetch Rs 15,000 cr revenues: Analysts

Spring-Summer Collections 2021 to fetch Rs 15,000 cr revenues: Analysts

     As per industry analyst, the Spring-Summer collections 2021 -- between February and June --- will fetch the industry at least Rs 15,000 crore, higher than the Rs 10,000 crore of... Read more

Designers face new reality as they ramp up business model

Designers face new reality as they ramp up business model

  Every year countless small, independent designers and brands across the country eagerly wait for two of India’s biggest shopping weeks the India Fashion Week and Lakme Fashion Week. However, this... Read more

Online shoppers to increase to 70% this festive season: RedSeer Consulting

Online shoppers to increase to 70% this festive season: RedSeer Consulting

     COVID-induced online adoption will be driving the rise of internet shoppers this festive season. According to a RedSeer analysis, there would be around 70 per cent increase in online shoppers... Read more

Indian e-commerce to hold 8% share in retail by 2025

Indian e-commerce to hold 8% share in retail by 2025

     According to a recent report by e-commerce SaaS platform Unicommerce, Indian e-commerce is growing at a steady pace and is projected to hold an 8 per cent share in the... Read more

Domestic retailers eye festive season as online sales and relaxations boost dema…

Domestic retailers eye festive season as online sales and relaxations boost demand

  AUDIO:  Your browser does not support the audio element. Ratings agency Icra estimates Indian apparel exports will decline 20-25 per cent in 2020-21. Due to the COVID-19 pandemic, the agency expects... Read more

COVID-19 changes Indian e-commerce as players break language, service barriers

COVID-19 changes Indian e-commerce as players break language, service barriers

  AUDIO:  Your browser does not support the audio element. Nothing can dampen Indian festive spirit. Despite COVID-19 triggering an economic slump, retailers expect this year’s festive season to be a boom... Read more

Average monthly rentals in Delhi’s upscale retail locations decline by 14%

Average monthly rentals in Delhi’s upscale retail locations decline by 14%

     According to Cushman & Wakefield, the average monthly rentals in Delhi's upscale retail locations of Khan market, South Extension and Connaught Place declined by 14 per cent year-on-year during the... Read more

Brands, retailers seek a phygital growth model amid COVID-19 crisis

Brands, retailers seek a phygital growth model amid COVID-19 crisis

    Realizing the significant impact that COVID-19 crisis will have on their businesses, Indian retailers are seeking new capabilities to leverage the phygital business model. Combining the advantages of both the... Read more

The green advantages of digital fashion shows

The green advantages of digital fashion shows

    Though the pandemic has led to a 45 per cent dip in luxury sales, it has also given the $2.5 trillion global fashion industry an opportunity to tap the potential... Read more

MOST POPULAR NEWS
Go to top

Follow Us On:

Face BookDealersForYou

TWDFUpublications

LNDFUpublications

YouTubeDFUpublications

 Copyright © 2020 DFU Publications. All rights reserved.