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

China was also under a lockdown and we depend a lot on them for fabrics: Akhil Jain

Akhil Jain, Executive Director, Madame
Akhil Jain Executive Director MadameSince we have our own manufacturing, we are manufacturing less. With lockdown finances are also shut, we will save about 100,000 to 150,000 units, that is produced and this is what I am thinking of if the season doesn’t begin in the next two months. As for autumn/winter, it is still under speculation as China was also under a lockdown and we depend a lot on them for fabrics. Of late, we have started pursuing Chinese counterparts for fabrics and accessories as they started working since the last two weeks.

If the lockdown ends in the first week of May, we will still be in control of the situation. It is not that we are encouraging discounts but probably we are only contemplating the summer season, which previously used to last for eight months and now only for six months. That is why we have cut 150,000 units from our production cycle; it will help me in case the lockdown ends by first week of May.

We are waiting for how the government supports the industry. Industries need more relief hence, we are looking at the government/local authorities and how they help the industry manage negative cash flow in the next six months post reopening. We have decided there will be no layoffs till April 30. We have to be humane and cannot lay off our own labours and feed people outside instead we will do the same for our labours.

As we are members of CMAI and RAI, we have regular discussions among the associations. RAI has submitted a complete document to the government on labour modules, revenue sharing modules, deferment of EMI etc, which summarizes what the industry wants as a whole, so that it can survive post lockdown.

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

Indian e-commerce players need better strategies to lure customers

Indian e-commerce players need better strategies to lure customers

      Experts believe without effective e-commerce, India’s post-pandemic economic recovery would be harder than it is now. E-commerce players like Myntra and Amazon are helping physical stores overcome difficulties in delivering... Read more

Crisil predicts 25-30 per cent fall in revenues of RMG makers in FY21

Crisil predicts 25-30 per cent fall in revenues of RMG makers in FY21

     Crisil Ratings predicts a 25-30 per cent decline in revenues of RMG makers in ongoing financial year due to the prolonged lockdown and lower discretionary spending. The agency expects this... Read more

From casual to need-based, COVID-19 changes consumer’s shopping habits

From casual to need-based, COVID-19 changes consumer’s shopping habits

    Shopping, the favorite hobby of many Indians; especially women, is undergoing a paradigm shift with the pandemic altering not just the modes of shopping, but the products being bought. While... Read more

India expects ‘V’ shape economic recovery from next year: Fin Min

India expects ‘V’ shape economic recovery from next year: Fin Min

     Speaking at a virtual conference organized by the Federation of Indian Chambers of Commerce and Industry (FICCI), finance ministry official said the government was expecting a "V" shape economic recovery... Read more

Apparel brands and retailers defer new launches owing slow demand

Apparel brands and retailers defer new launches owing slow demand

     Apparel brands and retailers have deferred new launches for this season owing to the extremely slow recovery in consumer demand that resulted from the above-mentioned situation, While a big number of... Read more

Designer Archana Kochhar distributes masks to frontline workers

Designer Archana Kochhar distributes masks to frontline workers

     Designer Archana Kochhar and her team understand that no amount of appreciation will suffice to acknowledge the efforts of the frontline workers who are risking their lives without a thought... Read more

Emotional connect, less wastage fuels demand for bespoke fashion in India

Emotional connect, less wastage fuels demand for bespoke fashion in India

    The growing emphasis on quality over quantity is boosting demand for customized fashion in India. With people buying less, their interest in off-the-rack clothes is weaning, feels designer Payal Singhal... Read more

Weekend shopping shrinks as consumers shop during weekdays, office hours

Weekend shopping shrinks as consumers shop during weekdays, office hours

     With consumers venturing out more during weekdays and office hours, the trend of weekend shopping has shrunk to a third. This change is mainly a result of closure of multiplexes,... Read more

Steady online retail revive demand as offline retailers gear up to boost sales

Steady online retail revive demand as offline retailers gear up to boost sales

    The nationwide lockdown being implemented to curb COVID-19 spread has hit Indian fashion and apparel sector hard with sales recovering just 35 per cent that of January levels. Latest Redseer... Read more

High-street retailers stage quicker recovery than malls: RAI

High-street retailers stage quicker recovery than malls: RAI

     High-street shopping destinations in metros like Delhi, Bengaluru, Pune, Kolkata are staging a quicker recovery than malls for retailers, says a survey by the Retailers Association of India (RAI). Stores... Read more

MOST POPULAR NEWS
Go to top

Follow Us On:

Face BookDealersForYou

TWDFUpublications

LNDFUpublications

YouTubeDFUpublications

 Copyright © 2020 DFU Publications. All rights reserved.