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

‘To regain existing business everybody has to work as fast as possible’

Raj Kumar Jain, MD, Bonjour-Zonac Knitting Machines
Raj Jain MD Bonjour Zonac Knitting Machines“Everybody has realized this is the time to think out of the box so that the when it opens they will be ready with what they want to do, like aligning people, volume of production needed to be done, how many showrooms to open, what volume of orders to be taken up because export orders have been cancelled, most large format business have cancelled their orders with vendors. Hence, from day one factories will have nothing to do. As for brands, when they open they have already sustained with their fixed expenses and have no money and will not be able to ask their customers for money. In fact, we will have to assure them we are with them and ask them to start business with full confidence. The main worry is financial support. Low margin business or those subsisting hand to mouth will face extra difficulties. This will simultaneously open new opportunities. It will be a new life after opening. To regain existing business everybody has to work as fast as possible.”

How is the garment industry in India placed today?

This situation is unplanned not only for India but across the world. The industry and people are worried about their well-being, food and safety nobody is bothered about anything else. Ours is a labour intensive industry and there are a lot of families attached to every factory of concern, so the major concern is how to meet people’s expectations; how to pay salaries and maintain fixed expenses during the lockdown. The textile industry has been passing through turmoil for many years. The challenge is people do not have enough money to sustain. A month is okay but further delay means there will be no money to sustain and no relief package has come from the government.

However, everybody has realized this is the time to think out of the box so that the when it opens they will be ready with what they want to do, like aligning people, volume of production needed to be done, how many showrooms to open, what volume of orders to be taken up because export orders have been cancelled, most large format business have cancelled their orders with vendors. Hence, from day one factories will have nothing to do. As for brands, when they open they have already sustained with their fixed expenses and have no money and will not be able to ask their customers for money. In fact, we will have to assure them we are with them and ask them to start business with full confidence. The main worry is financial support. Low margin business or those subsisting hand to mouth will face extra difficulties. This will simultaneously open new opportunities. It will be a new life after opening. To regain existing business everybody has to work as fast as possible.

This is the time to prepare by adding more vendors, adopting cost cutting methods, looking at efficiency, training offline etc, so that when we open we are fully ready.

Sourcing largely from China has shown its downside to the world; do you think India can now emerge strongly as a sourcing hub?

I feel China has done a great job over the last two to three decades and become the largest source for anybody in the world. They are the reason for a lot of countries getting out of job. With this turmoil, every country has realized they are depended too much on China and are now looking at alternatives. India as a strong sourcing hub is yet to be seen, because Chinese government, their environment, laws are very different from India. The way we have been working and the way the Chinese have evolved is completely different. Unless there is a thought among us that we have to do it, till then, business might go elsewhere because most bigger countries are looking for alternative sourcing but are asking for the same prices and quality. Countries like Ethiopia, Vietnam, Indonesia are working fast and taking up the job. There is a possibility that most of the business might go there if India really does not gear up. However, some amount of business will definitely comes to India weather it emerges as a major sourcing hub is yet to be seen.

The government has given some incentives/support through GST and EMI. Is it enough? Is the government really putting in efforts to help the textile industry?

The government is in a fix. I wouldn’t say they have not been able to announce much for the business community as there are many other priorities. Their priority is to save lives and running of life and safety measures. They might be coming up with a package for textile industry after April 15.

What steps have Zonac taken to overcome been these challenges?

We have been talking to our people and customers, imparting training and have kept them on work schedules, inter departmentally we are talking about cost cutting and to do lists and the challenges each department is facing so that when the time comes we can work it out efficiently.

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

India’s garment industry hit hard by second COVID wave: CMAI

India’s garment industry hit hard by second COVID wave: CMAI

    The Indian apparel industry, which was on a path to recovery since the beginning of this year, has being hit once more by the second COVID-19 wave. A survey conducted... Read more

COVID-19 suspends Amazon’s Prime Day sale

   The second COVID-19 wave has led to suspension of Amazon’s annual Prime Day sale in India. Along with Google and other Indian firms, Amazon has come forward to help India... Read more

Fashion retailers seek rental rebates

Fashion retailers seek rental rebates

     Fashion retailers are seeking rental rebates from high-street landlords and shopping malls as the COVID-19 pandemic continues to play havoc with their businesses. As per Money Control report, Benetton India... Read more

Conscious consumption drives launch of new sustainable collections in India

Conscious consumption drives launch of new sustainable collections in India

    The pandemic has caused some attitudinal change amongst Indian consumers. From racing to acquire latest fashion trends, they are now emphasizing on slow consumption. Growing popularity of plant fiber collections This is... Read more

E-tailers launch new solutions for sellers impacted by COVID-led disruptions

E-tailers launch new solutions for sellers impacted by COVID-led disruptions

     E-tailers are introducing new solutions for sellers suffering from pandemic-led effects. Startup Dealshare is doubling its pace of transforming business in small towns to online platforms. This helps the company... Read more

Apparel brands launch new initiatives, collections to attract customers

Apparel brands launch new initiatives, collections to attract customers

     To attract consumers, apparel and lifestyle brands have introduced a clutch of initiatives besides launching new comfortable clothing ranges and expanding online presence Label Ritu Kumar which has launched ‘Label... Read more

India’s menswear market a $34 billion opportunity for brands

India’s menswear market a $34 billion opportunity for brands

    Earlier restricted to staple products like jeans and polo shirts, Indian menswear market is currently bigger than women’s wear says a Vogue Business report. It’s estimated at $26 billion and... Read more

Fashion brands donate proceeds to COVID-19 relief

Fashion brands donate proceeds to COVID-19 relief

     To help India through its second COVID-19 wave, many fashion brands are offering their proceeds to NGOs supporting the cause. As per a Desi Blitz report, global sculptural design jewelry... Read more

Rents in India’s most iconic retail hubs decline

Rents in India’s most iconic retail hubs decline

     A study by Anarock Retail of average rentals of iconic retail hubs reveals a 17 per cent drop in rents for India’s most expensive retail real estate, the Khan Market... Read more

Promotions take backseat as brands focus on socially relevant ad campaigns

Promotions take backseat as brands focus on socially relevant ad campaigns

    The advertising world is changing with brands replacing product promotions with COVID-19 related content and messages on their social media handles reports Economic Times. Clothing brand United Colors of Benetton... Read more

MOST POPULAR NEWS
Go to top

Follow Us On:

Face BookDealersForYou

TWDFUpublications

LNDFUpublications

YouTubeDFUpublications

 Copyright © 2020 DFU Publications. All rights reserved.