The ASW Marketplace held its first vendor meet session on February 2 under the leadership of Ramesh Gunasekaran, Head Sourcing, Easybuy-Max Retail Division, Landmark Group. Gunasekaran shared his views on the growing value retail segment, the strategy of Easybuy and what constitutes a preferred supplier. The ASW team also arranged six on request, one-on-one meetings between exhibitors and EasyBuy, after the session.
As per KSA market size report, India’s apparel markets middle and economy value segment is worth around Rs 1,60,000 crore which is highest compared to all other categories including higher middle/value fast fashion, premium segment and super premium or luxury segment. Affordable, family retailer of the Landmark Group, Easybuy already has 100 stores across India with an impressive turnover of around Rs. 500 crore. The company’s products are fairly priced. It also focuses on the Tier II and III markets and expects to reach a turnover of Rs 3,000 crore by 2024 with 250 stores across India.
Business in the woven segment of the company is expected to grow 40 per cent in the next two years while the knit segment will grow 28 per cent. The retailer follows a four seasons sourcing cycle and it requires goods at the distribution centre 45 days ahead of the season’s starting. So, vendors normally get overall lead time of 120 to 130 days and for specifically manufacturing, they get 6 weeks to 9 weeks, depending on orders’ complexity.
