Submitted By: Juhi Khan Ponugumati Praneeth Puja Nanwani Nisha Agarwal Naina Tomar AUTHORIZATION LETTER This report is submitted as partial fulfillment of the requirement of “Post Graduation Diploma in Fashion Designing “program of “Pearl Academy Narayana”. The report on the ‘Entrepreneurship’ is an original work and has not been submitted to any other institute for the award and any degree or diploma. Place: - Delhi, Narayana Date: - Submitted by: Nisha Juhi Praneeth Pooja Naina LETTER OF TRANSMITTAL Dear Sir, We are submitting the report, due on 29th of October 2012, which you requested. The report is entitled end term project ‘’Entrepreneurship’’ (the motivations, the risks, rewards, impact seeing opportunities, identifying profitable opportunities) the purpose of this report is to be able to create a market for ourselves and before starting a business what all necessarily steps needs to be taken, be it market survey, SWOT, PEST analysis etc., thus gain multidimensional insight of the industry. We hope this report would merit your approval and all of us utilize your inputs in our practical life. Yours truly, Nisha Juhi Praneeth Pooja Naina ACKNOWLEDGMENT We would like to acknowledge the contributions of the following group members and individuals who have helped us in this report, the process of working on this project were really interesting. We gathered useful information and feel a great joy now that we are able to work on it successfully. First, we would like to express our heartfelt gratitude to our college “Pearl Academy” and faculty member Prof. Rahul Jain for willingly accepting us and unselfishly sharing his brilliance of knowledge, unfading guidance, patience, kindness and brilliant thoughts without any hesitations which are all of great significance to us as we continue to hone our attitude, skills and knowledge as students. Thank you once again for continuous cooperation, support and expert guidance throughout the project, whenever needed. Secondly to our beloved parents and siblings who had supported us. Thank you for always staying at our side and for untiringly understanding us. And lastly, to our Almighty GOD for all HIS blessings and graces, all the heavenly knowledge and wisdom HE bestowed upon us, and for the opportunity to be HIS servant and instrument in helping each other’s. Executive Summary COMPANY OVERVIEW INTRODUCTION: TCNS Clothing Company Private Limited(W) Neelgagan Tower-II, Mandi Road, Opp. VSNL Wireless Station, Sultanpur, Mehrauli, New Delhi - 110030, Delhi Tel: 91 11 42193193; Fax: 91 11 42193194 Email: Sanjeev.sharma@tcnsclothing.com; Website: www.wforwoman.com BUSINESS PRODUCT: TCNS Clothing Company Pvt Ltd (TCNS Clothing) manufactures fashionable garments for women under the brand name W. In 2002, TCNS entered into retailing by setting up its first brand store at Lajpat Nagar in Delhi under the name W. The brand specializes in woman wear. Besides salwar-kameez, W offers a range of fusion wear comprising trousers, skirts, tunic tops and tees and winter outer wear line. W operates under the direct business model with 28 retail outlets spread across various cities in the country. W stores have a floor space of around 1,000 sq feet per store. I our first 18 months we open 30 stores in tier I and tier II cities. Today we have 100 stores and 600 selling points spread across 40 cities. Key Executive –Ananat Dagga , Chief Executive Officer Store/Brand Name W Segment Format Stores Apparel & Textile Specialty Store 100 Total Area (Sq Ft) 28,000 Cities Employees Tier I & II 251-500 http://www.dnb.co.in/IndianRetailIndustry/Profiles/TCNS%20Clothing%20Company%20Private%20Limited.pdf TCNS Clothing Company is exploring opportunities to launch the label internationally as well as expanding its domestic retail operations. As a part of India expansion, the company plans to set up 100 exclusive 'W' stores in the country including tier II and tier III cities by the end of the year 2013.In 2010-11 brand grew by 75 percent and we are expecting 50% growth in the CY(2012-2013). SPECIALTY: The W assortment consists of everything ranging from salwar kameez, tunics, work wear, festive wear, and fusion wear comprising skirts, trousers and a lot more. With a view to giving the Indian woman innovation in her day wear and to infuse a dose of excitement in her wardrobe, W has introduced a range of clothes to suit her many needs. W offers its customers contemporary, fashionable & styled garments that complement a woman as she seamlessly transits from office to smart casuals, W clothes have been designed with creativity and care. W offers 3 range to its customer: 1) Aurelia - Low cost, 2) W- medium cost, 3) Wishful – high cost. The Market : W offers its customers contemporary, fashionable & styled garments that complement a woman as she seamlessly transits from office to smart casuals. The total market size is approximately……….We currently hold ……% of this market and believe we can capture ….% of it by year….. COMPETITION: We compete directly with Biba, Fab India and Anokhi and alternatives to our product include Lakshita, Global Desi. Our product is unique superior because of size fit. We have a competitive advantage because we offer six different sizes for a perfect fit that gives us edge over the other brand. Also our low cost producer status and launch of 5 fresh collections in a year makes us competitive. We anticipate new companies to enter this market as indo- western market is a growing market. RISK OPPORTUNITY: The greatest risk associated with our business today is rapidly change in fashion, preference, taste of the new globalized Indian women. We feel we can overcome this if we launch new collection based on fast fashion. Our biggest recognized opportunity will be best use of the prints and the size fits which best suits the Indian body. MANAGEMENT TEAM: The founder of the company is Trilok Chandra Narayan Singh who started it in the year 1997. The management team is led by Chief Executive Officer, Anant Dagga who joined the company in the year 2011. In 2010-11 brand grew by 75 percent. W’s initial information: www.mca.gov.in/ FUTURE PLAN OF COMPANY: W has over 100 stores and 600 points of sales spread across 40 cities. And by 2013 will add another 100 points. Matrix partners India has invested 60 crores in TCNS in 2011 and used this fund in expanding operations and opening more stores. Our USP: Providing clothing in low price to satisfy the customers. W is a clean fashion brand with minimal embellishments with impeccable cut and design. W grew out of need to offer the Indian women a innovative and contemporary ready to wear line that speak of fusion, fashion and functionality, The brand launches five new collections every year including wishful which is a premium line, available in selected stores only. We offer six different sizes for perfect fit that gives W an edge over other brands. In 2011 W launched trousers to pair with kurtas. In W 85% customers are the repeat customers the USP of W is quality, prints, and traditional style with fusion. The W stores are designed in line with the brand identity - spirited, contemporary and innovative to lend a pleasant shopping experience. It also offers very interactive and lucrative franchise option as well they have CRM software, which keeps the centralized data. To start the franchisee, one needs to invest 35 lakhs to 60 lakhs. Mission statement: W mirrors the new age Indian woman. Rooted at home and taking on the world with panache, playing myriad of roles with élan and taking on the challenges in her stride. The brand grew out of a need of a contemporary Indian woman for innovative ready to wear that combined fashion and functionality. With a unique design sensibility, the Indian Salwar-kameez was transformed into its chic & urbane - yet comfortable form. This was the first such attempt at reinventing Indian fashion. W has redefined the traditional Indian outfit to something that a woman can wear and look simple yet stylish. With a view to giving the Indian woman innovation in her day wear and to infuse a dose of excitement in her wardrobe, W has introduced a range of clothes to suit her many needs. W offers its customers contemporary, fashionable & styled garments that complement a woman as she seamlessly transits from office to smart casuals, W clothes have been designed with creativity and care. Goals and objectives: The brand true to its promise of being fashionable comes with 5 fresh collections in a year, providing an array of exciting fusion wear. W offers fashion leadership in the segment through a signature ‘Fusion’ design language which reflects an Indian essence imbued with modernity. Innovation as a value is embraced and cherished by the brand and lies at the heart of every W creation. W innovates and leads the evolving fashion needs of the contemporary Indian woman by offering her a wardrobe solution for her different moods. At W – it is a whole new world where you make your own fashion statement. At W, we intend to be a complete wardrobe solution provider to the Indian woman, hence in addition to the W Core range, we also offer Wishful –fashion for her special occasions. When she wears Wishful, she feels smart and chic – not overdressed. The range covers special occasions, parties and light cocktails. Emphasis on styling is a key way to create newness without excessive embellishment. Values: The W consumer is in essence contemporary, spirited, confident and smart. She is always on the look-out for fashion that helps express this personality. The design sensibilities of the W customer are best described as a sensible mix of western fashion and Indian tradition. The resultant genre is best referred to as fusion fashion. Here the customer is able to feel globally elegant, without ruffling too many local norms. This makes her comfortable in the W clothes – she feels at ease with herself and her surroundings. W makes her feel good and look good. W appropriates the mental mindscape of the contemporary urban Indian woman. http://www.wforwoman.com/ W’S ORGANIZATION CHART: Owner of the company Trilok Chandra Narayan Singh MD Guruditta Lamba CEO Anant Dagga Director Lalit Senior ASM KaushikChaudhary Regional ASM Zia Abbas Hussain Area Managers Manager 1 Tushar Manager 2 Anshu Manager 3 Rajiv choudhary Managers (South, East, West, North) Staff DIFFERENT DEPARTMENTS AND THEIR ROLES: Director – Organization head Design team – Takes care of designing role Merchandiser team – Takes care of value analysis Graphic design team – Work for design aesthetics and play of prints. Sampling team – Co-ordinate with buyers for approval of samples and then to send it for production. Trend forecast team – As the name suggest they work on different and new fashion forecast as per style and colors. INDUSTRY DESCRIPTION Indian Textile and Apparel industry is the second largest manufacturer in the world with an estimated export value of ~ US$ 34 billion and domestic consumption of ~ US$ 57 billion. The sector contributes to about 6% of the US$ 1.7 trillion Indian economy. It also provides employment to ~35 million persons directly & ~55 million persons indirectly. India is among the very few countries which have a presence across the entire supply chain, from natural and synthetic fibers right up to finished goods manufacturing. It has presence in organized mill sector as well as decentralized sectors like handloom, power loom, silk, etc. The total Indian consumption of textiles and apparel is estimated at ~US$ 57 billion (apparel retail contributes ~ US$ 40 billion, technical textiles contributes ~ US$ 13 billion and home textiles contributes ~ US$ 4 billion). It is expected to reach ~US $ 100 billion by 2016 growing at a compounded annual rate of 12%. Along with this, the exports have grown from US$ 19 billion to US$ 34 billion in past 6 years at a CAGR of 12%. However, the industry has not performed to its full potential. It faces several challenges in aspects of production, marketing, and support infrastructure. The technology used in manufacturingg of textile and apparel in India considerably lags behind that of developed nations and this is mainly due to lack of value addition, low productivity, low pace of modernization, economies of scale and high fragmentation. The industry also suffers due to general infrastructure related issues which lead to higher transaction costs, unreliability in transit times, etc. along with focus on limited markets, weak brand positioning of India and overdependence on cotton. Currently we are witnessing a high growth in domestic consumption which is being fueled by several factors including rising disposable income of the consumers, growth in organized retail, increasing brand awareness, rapid urbanization and increase in working age population. The current global trend has been increase in raw material costs as well as manufacturing costs, mainly manpower. In order to remain competitive in this challenging scenario it is important for Indian industry to focus on new paradigms for growth including Government support, driving manufacturing competitiveness and tapping the domestic market opportunity. With the objective of accelerating growth in investments and exports; Government of India has launched several schemes, a few of them are: Technology Upgradation Fund Scheme (TUFS) Scheme for Integrated Textile Parks Development of Mega Cluster Integrated Skill Development Scheme (ISDS) Technology Mission on Technical Textiles (TMTT) A manufacturer can focus on a large number of business parameters in order to improve the manufacturing competitiveness. However, the most critical parameters having significant impacts are: Skill Upgradation Technology Upgradation Partnerships There is a huge potential in the apparel market and there are many factors contributing to the boom in this sector. To name a few, increased consumerism with a capacity to spend on luxury items and increased spending power in the hands of Indians. Along with this, the retail sector in India is growing at a phenomenal pace. According to the Global Retail Development Index 2012, India ranks fifth among the top 30 emerging markets for retail. International brands have begun to mull over the various possibilities of entering in India. The recent announcement by the Indian government with Foreign Direct Investment (FDI) in retail, especially allowing 100% FDI in single brands and also thinking of opening up the sector for multi-brand FDI has created positive sentiments in the retail sector. New Paradigsms for Textile Industry, Texcon ’12, Confideration of Indian Industry, Knowledge partner Wazir SEGMENT WISE 2010-2011 GROWTH RATE OF THE APPAREL INDUSTRY SEGMENT WISE SPLIT OF APPAREL MARKET 12 10 Men's 8 Women's 6 Boys Girls 4 2 0 Men's Total Fig: 1 Women's Boys Total Girls Total Total Fig:2 CATEGORY- WISE WOMENS WEAR MARKET SIZE 30,000 In Rs. Crore 25,000 20,000 15,000 10,000 5,000 0 Fig: 3 Figure 1, 2 & 3: Source: Technopak Analysis (All figures are rounded off), March 2012. 2010 2011 Ch. 3 15 Womenswear: The market size of the women’s wear category in 2011 was Rs 72,047 crore, which is Rs 6,019 crore more than the year 2010. Sari is the largest category in terms of market size. The total value of this category in the year 2010 was Rs 26,905 crore. It has grown 7 percent on year-on-year basis. Indian wear is the second largest category with a market size of Rs 20,692 crore in 2011 followed by tops, shirts and Tshirts. The year-on-year growth rate of the women’s wear category is 9 percent. In this category denim records the highest year-on-year growth rate of 17 percent, followed by innerwear and T- shirts, which is growing at the rate of 14 percent and 13 percent respectively. KNOWN BRANDS CATERING TO INDO-WESTERN WEAR IN INDIA 25% 22% 11% 5% 5% 5% 3% 3% 2% 5% 2% 5% 3% 3% 2% 2% 2% 2% 2% 18 -24 Yrs 25-31 Yrs IMPORTANT FACTORS WHILE BUYING APPAREL 5 4.5 4.6 4.43 3.98 4 3.5 2.97 3 2.86 2.5 2.2 2 1.5 1 0.5 0 Latest Fashion Brand Name Figure 4 & 5 Source: Technopak Analysis Design Comfort Price Material Ch. 3 16 PEST ANALYSIS OVERVIEW The environment we live in can be very volatile. All organization has its considered internal weaknesses and strengths, but the outside world will also have a major impact on the organization’s future. PEST Analysis is a popular marketing management tool and method of examining the many different external factors affecting an organization. Since the company is offering clothing designs which depend on the needs and demands of their customers, there are some external factors that the company must consider in order to stay in the competitive world of business. The following are some of the factors within the external environment that the management of the company must consider. INTERNATIONAL ENVIRONMENT: 1. Announcement of duty-free access to 46 textile items from Bangladesh in the form of a unilateral trade concession is likely to result in loss of employment. There will be "severe adverse impact" on the garment clusters in Tirupur, Ludhiana and West Bengal. The total garment would be around 8 Mn pieces to be exported to India at zero duty. 2. 100% FDI in single brand retail is a welcome sign for the luxury and niche retailers. Moreover, the revival of the proposal to permit 51% FDI in multi-brand retail could bring a positive impact on Indian retail sector. 3. Import of Textile & Clothing has grown by 26 percent during FY 2012, the highest growth ever. 4. According to WTO, World T&C (Textile & Clothing) exports grew by 14.6% from USD 525 billion in 2009 to USD 602 billion in 2012. 5. Zero duty EPCG scheme, introduced in August 2009 and valid for only two years upto 31.3.2011, has been extended by one more year till 31.3.2012. 6. Duty free import of specified trimmings, embellishments etc. shall be available on Handloom made-ups exports @ 5% of FOB value of exports. 7. Rise in price of cotton, International price of cotton $ 1.7 per pound. Ch. 3 17 POLITICAL ENVIRONMENT: 1. Readymade Garment sector granted enhanced support under MLFPS for a period of further 6 months. 2. Current Account Deficit (CAD) is likely to stay around 3.5 to 3.6 per cent of the GDP this year (2012). 3. Inflation in womenswear (forecast at + 2.6%), caused primarily by the increased cost of cotton and high fuel prices increasing shipping costs, will drive expenditure growth of 3.0 % in 2012 to £ 21.4 bn as most retailers have led to increase retail prices to limit the hit on margin. Retail inflation in August stood at 10.03 per cent. 4. Implementation of National Floor Level Minimum Wage, was raised on -1st April 2011 to Rs 115. 5. E- Marketing platforms have been started to facilitate marketing support to small-scale industries. 6. Rs 500 Cr pilot scheme announced for promotion of Geo-textile in North Eastern Region. 7. Use of eco- friendly fabrics, demand for green products. 8. Rising home disposal expenses on textile which stood up to Rs 75 billion in 2010-11. ECONOMIC ENVIRONMENT: 1. Extension of 2% interest rate subvention to readymade garment sector till 31 March 2013. 2. The opening of foreign direct investment (FDI) in the retail sector would bring down inflation further. Competitive pricing would be beneficial to consumers, country, producers, consumers and others. 3. Global brands and retailers are choosing to work with the factories that are certified in Compliance Certification. 4. Exchange Rates - Increasing Dollar per Rupee decreased exports due to declining profit. Ch. 3 18 5. Decline in export to US & Europe – 3.5 % and 5% resp., but domestic consumption rose by 1%. 6. Rise in Diesel prices leading to increase in transportation cost. 7. 2012- 13, 10% duty on branded RMG, now mandatory (previously optional) computed on 60% of MRP. 8. Use of eco- friendly fabrics, demand for green products. 9. Cargo Traffic at India’s 12 major ports during April- February 2011-12 was 510.8 million tones, which was 1.59% more than the cargo traffic of the same period last year. This was achieved despite the slow down in the global economy.( Attire World, May 2012, pp 39). 10. The Repo rate gets dropped from 8.5 to 8.0 % and reverse repo rate , gets calibrated to 7.0%.( Attire World, May 2012, pp14, 15). SOCIO CULTURAL ENVIRONMENT: 1. Great acceptance and empowerment of Women- an increase in sex ratio and education level. 2. Delayed phase of life- women are getting married late and generally have less family responsibilities. No of children per family are decreasing. Financial stability is going up due to smaller families. 3. As per new rule garment manufacturers should pay at least the minimum total compensation required by local law, including all mandated wages, allowances and benefits. 4. The demand for social compliance is increasing day by day. 5. Increasing working women in organized sector leading to popularity of brands like W, Biba, Fab India. 6. The domestic consumption has been fueled by several factors like growing consumer prosperity and awareness, increasing availability of product variations, catching up with international trends, growth of organized retail, etc. Ch. 3 19 7. According to Internet World Stats (IWS), number of internet users has been increasing at a CAGR of ~24% between 2005- 2010 which results in increased brand awareness among Indians regarding western clothing & organized retail. 8. Higher prices and restricted disposable income have made consumers far more considered with their clothing expenditure leading them to think twice about the number of items they are buying in 2012- limiting volume growth to just 0.4%.( Attire World, May 2012, pp 25, Verdict Research). 9. Increased participation of women in workforce has led to their financial independence. There is a direct increase in spending on corporate clothing, casual wear and party wear. 10. There are various social standards that have been developed by the international organizations such as Fair Labour Association (FLA), Council on Economic Priorities Accreditation Agency (CEPAA), Business for Social Responsibility (BSR), Ethical Trading Initiative (ETI), and Worldwide Responsible Apparel production (WRAP). 11. India youth population below 25 years is approx 50%. As this young population enters the Indian workforce there will be increased demand for work wear including indo-western wear and formal clothing as well. 12. Prohibition of child & forced labor: Manufacturers of Sewn Products should not use forced labor or any labor less than 14 years of age. TECHNOLOGICAL ENVIRONMENT: 1. Microsoft raises price of software products. 2. Digital Printing is picking up as a major trend in the fashion arena. 3. Technology Upgradation Fund Scheme (TUFS)– The Scheme mainly provides for – Reimbursement of 5% (4% for spinning machinery) interest charged by the financial institutions. Coverage of exchange rate fluctuation not exceeding 5% (4% in respect of spinning machinery) points per annum in respect of foreign currency loans instead of 5% interest support. Ch. 3 20 5% interest reimbursement plus 10% capital subsidy for specified finishing machinery, garmenting machinery and technical textiles machinery. 4. Technology Mission of Technical Textiles (TMTT)-Government has launched TMTT with two mini missions for a period of five years (from 2010-11 to 2014-15. The total fund outlay for TMTT is Rs 200 Crores. Mini Mission I of TMTT is aimed at Standardization, creating common testing facilities with national international accreditation, indigenous development of prototypes and resource center with IT infrastructure, incubation centre by establishing four new Centers of Excellence (COEs) and Upgradation of existing four COEs. Mini Mission II of TMTT is to provide support under 6 components, i.e., Support for business start-up; Providing fund support for organizing workshops; Social compliance through standardization, regulatory measures; Market development Support for marketing support to bulk and institutional buyers; Market development Support for export sales and Contract Research and Development through IITs/TRAs/Textile Institutes. SWOT ANALYSIS STRENGTHS: • Hit-the-trend styles • Affordability • Accessibility - store coverage all over the country • Availability in clothes range • Numerous choices in product lines • Numerous options in collections and styles, e.g. prints and bright colors • Store space (especially the metro cities flagship) Ch. 3 21 • Established brand image and market position • Variety of collections to appeal to a broader range of customers (current and potential) Different types and styles of garments. Tops, kuris, tunics, skirts and many more • Great range of awards won, making it a highly recognized High Street Retailer in, India WEAKNESSES: • Customer services become difficult to maintain for big store space and numerous product lines even staff sometimes unprofessional and unhelpful. • Fabric is average quality comparatively other brands • Accessibility takes away the exclusivity and uniqueness in styles - cloned and uniformed styles • Customer service- doesn't work well, only one person to help whole customers. OPPORTUNITIES: • 50% of India’s population is the young generation which is very fashion-cautious group that will spend on fashion more regularly. • Disposable income has increased and today’s women has become more fashion and style cautious. • Association with celebrities - creating fame and attachment to brand. • Affordability and choices might make survive the recession. • International expansion opportunities with its mature market position and status among consumers in the India. • Increase in the ratio of working women class. • Charity work provides opportunities to target a greater range of potential customers, those who wouldn't normally shop at W otherwise • Increase in popularity and strength of brand image provides expansion and recognition opportunities all across the world • Worldwide Store Expansion will increase revenue and profits • Website management- producing and selling the products by website, customers Ch. 3 22 shopping by Internet without visiting the store, also it can ship to USA and Europe. • It is the good stage for new fashion designers to present their works. Appoint new or upcoming designers those who strive for new. Threats: • Competition from high street leader Anokhi, biba, fab India who cooperates with top designers and fashion icons too. • Competition from new entered foreign bands that offer very fast fashion styles at even more affordable prices. • Frequent change in the taste and preferences of customers. bargainig power of customers bargaining power of suppliers compititive rivalry with in an industry threat of new Entrant threat of subsitute products Ch. 3 23 Competitors Analysis Competitor Mission and Vision BIBA They cater to all apparel needs of a woman, without the constraints of price line, geographical territories and lifestyle categories ANOKHI Anokhi tries to maintain an open and honest relationship with its craftspersons. It helps them to work in conditions of their own choosing and commits itself to providing them with sustained work. FAB INDIA To be to maximize the hand made element in our products, whether it is handwoven textiles, hand block printing, hand embroidery or handcrafting home products. Competitor Objectives To provide fashionable clothing at affordable prices Anokhi’s ideals have been those of conservation and development, through the input of design, marketing and project funding. To provide customers with hand crafted products which help support and encourage good craftsmanship Overall sales and profits turnover Rs. 250 Crores a year - Turnover 150 cr Turnover 1000+ cr Top – Rs. 599 to Rs 899 Stoles and shawls – Rs. 899 to Rs, 3499 Sales and profits by market Cost structure Kurti and Kurta – Rs. 699 to Rs. 1199 Salwar suit and Kurta churidar with dupatta – Rs. 1999 to Rs. 2999 - Kurtis – Rs. 1299 to Rs. 2699 35-40 Crores profit Price range- Rs 360- Rs 1190 ( basic garments) Rs 1200- Rs 2490 ( fashion basic) Tops and Tunic – Rs. 699 to Rs. 2099 Dresses – Rs. 999 to Rs. 2999 Salwar kameez dupatta set – Rs. 1999 to Rs. 3599 Distribution System Retail Store Retail Store Advertising Strategy Promotion through print Promotion through print Retail Store, Institutional Sale Promotion through print Ch. 3 and spending Customer retention levels Customer satisfaction and service levels media and electronic media 150 consumer touching points media and electronic media Their garments are for the niche market n they are repeat customers High Very high Distribution costs Average New product strategies To have more global look for their garments. Adding pastel shades with their vibrant palette 2) Associated with IIFA and movies 3) Adding unstitch fabric Future investment strategy 375 crore target by 2014. 40 exclusive 6 flag ship and 150 MBO stores 2020 biba will be the destination for indian ethnic High They do 5 collection every year and uniqueness is all their products sarongs, home textile, accessories and garments are available in the same prints Adding BIACHAUNIS Blankets in their collection. Collaboration with JKHDC. Working with UK based textile artist David mabb. Reinterprets prints of WILLIAM MORRIS. Contractual terms with key suppliers They just buy gray fabric from the market rest of the things are done inhouse including printing, stitching, packaging, and distribution. http://www.anokhi.com/museum/exhibitions.html http://www.thehindubusinessline.com/search/simple.do? search=simple&includeSectionId http://www.couponcodes4u.com/couponsdiscounts/Anokhi/0 http://www.indiamart.com/company/3549178/ http://www.fibre2fashion.com/industry-article/textile-industry-articles/ http://www.scribd.com/doc/38081076/FAB-INDIA http://www.slideshare.net/nikitasanghvi http://www.fabindia.com/company/ http://www.statmyweb.com/s/biba-apparel-india 24 media and electronic media Focused on customer retention instead of generation Very high 85% repeat costumer 53% satisfied 33% appreciate 14% very good Average They have huge variety in products hence They are going to work on color bleeding and fastening along with shrinkage problem Planning to improve their business in international market by end of 2012 they will be functional in Qatar as well (middle east) Three months delivery time. They have penalty clause if not delivered on time. Good Quality is a major clause for the fabricators. Payment schedule is 15 days Ch. 3 25 SCREENING AN OPPORTUNITY (5 QUESTIONS) [1] What important customer problem can you solve? UNIQUE DESIGN SENSIBILITY: - W has redefined the traditional Indian outfit to something that a woman can wear and look simple yet stylish. With a view to giving the Indian woman innovation in her day wear and to infuse a dose of excitement in her wardrobe, the Indian Salwar-kameez was transformed into its chic & urbane - yet comfortable form. NEED:- W has introduced a range of clothes to suit her many needs. W offers its customers contemporary, fashionable & styled garments that complement a woman as she seamlessly transits from office to smart casuals, W clothes have been designed with creativity and care. COMPLETE RANGE:- The W assortment consists of everything ranging from salwar kameez, tunics, work wear, festive wear, and fusion wear comprising skirts, trousers and a lot more, so every woman has ample to choose from. (2) How are you going to do it? UP TO DATE FASHION WEAR: - silhouettes are inspired by runway trends that complement Indian women. 5 FRESH COLLECTIONS IN A YEAR: - It launches 5 fresh collections every year according to Indian women need. EASY AVAILABILITY: - W has over 100 stores and 600 points of sales spread across 40 cities. And by 2013 will add another 100 points WITHIN RANGE:- It provides three ranges to choose from: 1 Aurelia Low Range Rs 299-800 2 W Medium Range Rs 499- 1500 3 Wishful High Range Rs 1501- 3000 Services:- W will provide its customer after sale service and also a design team in its outlet to help you to enhance your style and booklets available at counter will also provide knowledge about current fashion trends. Ch. 3 26 New Technology:- The design team in W has always believed in providing its customers what’s new in fashion whether it’s a kind of print, fabric or silhouette. (3) How many customers are there those are willing to buy from you? Increased participation of women in workforce has led to their financial independence. There is a direct increase in spending on corporate clothing, casual wear and party wear. India youth population below 25 years is approx 50%. As this young population enters the Indian workforce there will be increased demand for work wear including indo-western wear and formal clothing as well. (4)Why can only you provide the solution? The brand true to its promise of being fashionable comes with 5 fresh collections in a year, providing an array of exciting fusion wear. W offers fashion leadership in the segment through a signature ‘Fusion’ design language which reflects an Indian essence imbued with modernity. The brand grew out of a need of an contemporary Indian woman for innovative ready to wear that combined fashion and functionality. http://www.wforwoman.com/about-us.php (5) How can you defend against others? W innovates and leads the evolving fashion needs of the contemporary Indian woman by offering her a wardrobe solution for her different moods. At W – it is a whole new world where you make your own fashion statement. W offers six different sizes for a perfect fit and that gives it an edge over most other brands. Ch. 3 27 PRODUCT DETAILS OF THE GROUP PRODUCT DETAIL JUHI KHAN TOP (Style) NISHA PRANEETH PUJA Straight Kurti with little flare Boat Neck 3/4th sleeves Straight Kurti with panels Long Shirt Kurti Flared Kurti 3/4th sleeve Convertible Collar 3/4th sleeve 36” Cotton (Cambric Jacquard) Zwabe 34” Cotton Satin 34” Cotton (Cambric) Cowl Trouser Salwar trouser Full Length Pockets, Cuff Full Length Full Length One side pocket Full Length maroon, blue, light parrot green ( not confirm) Cotton Cambric(Med. wgt) using men shirts details Beige Screen Print Screen Print Screen Print Stitches Thread work Thread work Hand Embd Seam French Seam French Seam Range Rs 999 Tailored Seam Rs 1999 French Seam Rs 1999 Neck/ Collar Sleeves Length Fabric LOWER (STYLE) Length Other Details(If any) Color (Top & Lower) Fabric OTHER DETAIL(IF ANY) Print Technique Texture Naina Beige/ White, Black Cotton Cambric(Plain) Block Print Rayon Screen Print Rs 1099 3/4th sleeve Long kurti Cotton (Cambric) churidar Cambric Ch. 3 28 MARKETING PLAN PROJECT INSPIRATION Ardhanarishvara Ardhanarishvara... is a powerful concept. According to ancient Hindu scriptures a human being is complete within himself. He has the powers, the forces to fulfill his own needs... spiritually, only if he awakens them. Everything else is temporary and shall fall away except your relationship with yourself. Shakti (feminine raging power) and Shiv (masculine dormant power) both reside within us and when our Shakti is awakened, also called KUNDALINI AWAKENING then it rushes up opening all our 7 chakras (energy centers in our body) depicted as lotuses by seers and artists along our spine..... to meet Shiv and when that explosion happens we are in a state of inexplicable bliss, enlightened holders of many divine powers. Kundalini awakening is only initiated by an authentic Guru. And this concept exists in other cultures as well. http://allpoetry.com/poem/9531907-Ardhnarishwar...__half_man__half_woman_-by-Deepika_Chand 1. CONCEPT NOTE : Cultsion (Culture + Fusion), (Juhi) As Ardhnareshwar is the mix of God Shiv and Goddess Parvati, I’ve come up with a new word that is Cultsion, (Culture + Fusion) which shows modern Indian women who is globalized, independent and more fashionable and stylish today. Today’s women are performing many duties at the same time and that is why she needs a dress which provides her a full comfort and style everywhere. Keeping this in mind I have made this collection which is a tribute to Indian women who has come across a long way to achieve this status. She proudly holds on to traditions but not the subordinate status in society anymore. 2. CONCEPT NOTE: JUXTAPOSED (Nisha) Ch. 3 29 It means placing things side by side, in designing it is done to bring out a specific quality of creating an effective patterns particularly when two contrasting or opposite elements are used. Who sees it attention is drawn to the similarities or difference between elements it is more often to concept or imagery. 3. CONCEPT NOTE: REVOLUTION (Puja) Ardhnareshwar is a composite androgynous form of the Hindu god Shiva and his consort Parvati. Ardhnareshwar is depicted as half male and half female, spit down the middle. IT IS BEST EXAMPLE OF MEN & WOMEN EQUALITY. My theme is Revolution which means a total change and here it is related to women empowerment; a total change in outlook of women’s condition in our country. As we all know nowadays scenario, how women power in India is emerging for their rights. So my concept is to show this though their garments. And this is how I relate Ardhnareshwara to revolution. 4. CONCEPT NOTE- EQUALITY (Praneeth) Wo-men’s are the main seeds for creation of in this world. As per the rules and customs, feminine dominated by males. And still many of them are in same path and in same way of thinking as women’s are home maids. My inspiration Ardhnarishwar strongly defends to B.C concept and makes clear women’s are no lesser than men. Lord Siva’s half of the body is mix of Parvati. Women are no lesser than men. The left side is the location of the heart and is associated with feminine characteristics like intuition and creativity. While the right is associated with the brain and masculine traits – logic, velour and systematic thought. 5. CONCEPT NOTE: BOHOGYNY (Naina) Fusion of formal-modern - boyish- ethnic. It’s based on my philosophy of BOHOGYNYandrogynous mixed with tribal boho element. Ardhnareshwar my inspiration, talks of the balance between the strong and the feeble man and woman. Its an androgynous look with shirt kurtas, plackets and simple necklines. Boho look created by Phulkari inspired prints. Ch. 3 30 PROMOTION Product promotions are designed to increase sales of a product of service. A sales promotion entails the features – via advertising and/or a discounted price Advertising can be done through: 1. Print Media – (a) Newspapers (b) Magazines (c) Pamphlets (d) Posters (e) Flex / Banners (f) Hoardings 2. Electronic Media – (a) TV (b) Radio (c) Internet 3. Other – (a) through active wears (e.g. promotional T-shirts) (b) Through door to door campaigns (c) Through promotional booths in high populated areas or in malls. Other method is through giving discounted prices or giving something free on purchase of a product. OUR SUGGESTION: For W’s product we think best way for promotion is through advertising in Women journal: For e.g. full page advertisements in FEMINA with some exciting punch line or very attractive presentation of new collection. The picture in itself could be done in so effective way that it can narrate a story about the collection. Also Femina reaches maximum number of a woman who is target market (customers) for the W brand. Ch. 3 31 PLACEMENTS Placement of a product is a key to its successful promotion. And also placement of key product helps in promotion or selling of other products in a store. For our new collection for the brand W. Placement of bulk should be in center with mixed spaces for hanging and shelves. Wallpapers, hangers, stand, shelves and flooring of that portion should be in complete sync to our theme. Visiting customers can feel in that period of time we are associating our goods to with all modernized living. Besides this; a range of our products should also be kept in window display clearly depicting the mood and best craftsmanship. SOURCING DETAILS OF THE GROUP SOURCE CONTACT PERSON PLACE PHONE NO. Maa Padmavati Fabric Subhash Jain Old Seelampur 9891156210 Sanmati Traders Dinesh Jain Old Seelampur 9313920128 Shree Jee Prints Anil Jain Old Seelampur 9350854287 Rajat Traders Rajeev Anand Old Seelampur 9810565511 Akash Enterprises Devender Gupta Old Seelampur 9211011000 Vanshika fancy lace Ashok jain Shanti mohalla 9211118909 9891800909 Goel textures Setu and Anuj Shanti mohalla 9999740007 9711251735 Jai mata di lace house Lovely khanna Shanti mohalla 9250022536 Panchi international Satenderjain Shanti mohalla 9312441887 Ch. 3 32 COLOR PALETTE: (GROUP) Pantone 17-1350 TPX Pantone 19-3925 TCX Pantone 17-5430 TCX Pantone 18-1658 TCX PRIME COST PRIME COST S.No. COST TYPES PRODUCTS KURTI & CHURIDAAR 1 fabric cost per unit 300 2 CMTP 70 3 Other direct cost 15 4 estimated COGS per unit 385 5 (Retail margin (in Rs.) 1605 Fabric cost is Rs.60 per meter Fabric consumption is 5 meter And MRP is Rs. 1990 REFLECTION REFLECTION (PUJA) Specific tasks were shared out amongst members of my team. And there were certain things that everybody has to do for their selected themes. Although it had also resulted Ch. 3 33 in tensed reactions and feeling of inequality in distribution of tasks, but it had taught a lot of things about difficulties in working in group like conflict of thought, work distribution, interdependence. At the same time it also taught about the fun, enjoyment, time management, duties, working in time limits, thinking about convenience of each member etc. It was also a great experience to work on my share of work. Collecting data about different companies seemed easy in starting but as I started research work, I came to know how difficult it is. No information was available in the form I required; so I have to write one thing in different ways several times to search one point. And likewise it took a lot of labor to complete my share of work of ‘competitor analysis.’ It had made me understand the importance of leadership in a group for successful completion of any work. Also every member of a group must understand his responsibility and must work according to requirement of group’s interest and never bring one’s own interest above all. Working in group also makes a task very easy, quick, near to complete analysis of a topic (as different view and different angle of thinking is involved due to no. of brains involved). REFLECTION (PRANEETH) It’s a competitive assignment to know the real marketing skills through design skills. Business awareness to find out where and what the product to be placed and design priority skills through region. Good commercial learning, working as per budget to know manufacturing and production viability. Working as team member with a group of multi- sense talent bud designer is a great learning. Learning – work under what you like and as per your style. Then it’s easier to generate ideas of same level. To make work easier and fun of design environment. Ch. 3 34 Reference: Nisha (customer analysis) http://www.anokhi.com/museum/exhibitions.html http://www.thehindubusinessline.com/search/simple.do? search=simple&includeSectionId http://www.couponcodes4u.com/couponsdiscounts/Anokhi/0 http://www.indiamart.com/company/3549178/ http://www.fibre2fashion.com/industry-article/textile-industry-articles/ http://www.scribd.com/doc/38081076/FAB-INDIA http://www.slideshare.net/nikitasanghvi http://www.fabindia.com/company/ http://www.statmyweb.com/s/biba-apparel-india ANNEXURES Ardhnarishwar It has both positive and negative quality.his positive aspect, Shiva is described as the pure one (shviam), who sanctifies everything He touches.who is full of compassion, love and grace, the master of all sounds and arts and protector of the weak and the meak. He has unbounded love for his family.On negative side He is described as the Lord of the death, terror and destruction, who unleashes his fierce nature upon those who follow the evil ways. Masculinity is associated with strength and femininity with weakness. These characteristics include but are not limited to: gentle and firm, humble and bold, Ch. 3 35 cooperative and competitive, emotional and rational, flexible and unwavering, nurturing and playful, soft-spoken and assertive. Truth needs both approaches Ration and intuition Thought and emotion SUN AND MOON INTROSPECTION AND ACTION SHIVA, male Solar, RATIONAL Shakti female, lunar, emotional The lotus, Symbolize purity and beauty as individual consciousness it grows in the mud of life, but remain unstained by it. The staff Is used to control the elephant of intellect, which can be overly independent moving in its own intoxication of knowledge. The tiger skin--- represent the conquered mind The mudra- As formed by one hand of Shiva grants fearlessness The snakes—are the tamed passion Trishul the trident - symbolize the balance of the forces of creation, preservation and destruction as well as those three aspects of consciousness, Cognition, conation and affection http://www.indiangiftsportal.com/product_info. ANDROGYNY While the Renaissance phrase Every painter paints himself uses the masculine to denote both genders, as the English of my youth did too, the artists themselves were under no delusion that their male minds would be sufficient to become like God (see The Divine Artist). They needed a feminine side too (or a masculine one in the case of female artists) because a mind reflecting the cosmos – whether God’s or a visual poet’s – contains both genders as any reasonable thinker since Plato would have known. This is important to grasp because the patriarchal norms of everyday life in the Renaissance, of particular interest to feminist art historians, were markedly different from the intellectual concepts so important to mystical thought. Although some historians believe that Marsilio Ficino, the Florentine mystic and translator of Plato's writings, rediscovered the subject of androgyny in the late fifteenth Ch. 3 36 century,1 it had always been present in one form or another, including among the Christian mystics of the Middle Ages. Caroline Walker Bynum has shown, for example, how large numbers of devout people described and thought of Jesus as Mother. Indeed, even more surprisingly, “authors [in the medieval period] found it far easier than we seem to find it to apply characteristics stereotyped as male or female to the opposite sex.” Although artists from the Enlightenment onwards may not have been as religious as their earlier colleagues, many remained spiritually inclined, even mystically inclined, and continued to present their psychic life as androgynous. In the nineteenth century artists like Edouard Manet, a man not easily linked to mysticism or esotericism, demonstrated with startling clarity that their minds (or at least the mind they imagined) was androgynous, a position which by the twentieth century was receiving outside support from discoveries in analytical psychology. Created by combining the Greek words Andros (man) Gyn(Woman). Androgyny describes the blending of male and female characteristics within a single individual. It’s generally understood today to be a psychological bending between a strong women and a soft man. 1. Janusz. Walek, “The Czartoryski Portrait of a Youth by Raphael”, Artibus et Historiae 12, 1991, p. 219 2. Caroline Walker Bynum, Jesus as Mother: Studies in the Spirituality of the High Middle Ages (Berkeley: University of California Press) 1982, p. 162 ANDROGYNY IN THE WEST This is for the Bold & Strong Women. Androgynous Fashion is very edgy, strong and chic! It is one of the Ch. 3 37 most upcoming styles in today's time. The " Masculine Pretty" seems like the new "IT" fashion. http://3.bp.blogspot.com/-aJhhf5 http://3.bp.blogspot.com/- andrcate_blanchett_suit_164064640_large.jpg http://2.bp.blogspot.com/-waW Various celebrities are now seen in androgynous clothing: Rachel bilson Rihanna Ch. 3 38 http://3.bp.blogspot.com/http://2.bp.blogspot.com/-4-bc3p-Rihanna in a Suit / Anne Hathaway at the Oscars http://2.bp.blogspot.com/-4-bc3p- Stefani 1253583280.jpg http://2.bp.blogspot.com/ _suit- Its truly said very few girls can carry of this look,i absolutely love this style and this would definitely be my interpretation of androgyny: My Perfect Outfit is Striped Shirt (Black& White) with a pink bow tie, Skinny Jeans (Black) with Tan Brogues & a tan bow bag :) Accessories: A Hat & Shades (To help you from the scorching heat & also putting in a fun element in your outfit: D) and a Bling on your fingers to make it all perfect! ROCK THE ANDROGYNOUS LOOK With the androgynous look re-emerging as a fashion trend this season, Neha Mathrani shows you how to fuse the look with some feminine touches. CURVE SWERVE The androgynous trend is all about subtlety. While most women’s fashion trends tend to be about emphasizing your femininity, this trend is about creating a silhouette that is neither overtly masculine nor overtly feminine. Emphasizing your curves is out and creating mystery is in. Wearing well-tailored trousers with a soft pink or floral top tucked in at the waist or pairing a high-waist skirt with a structured blazer are great ways to blur Ch. 3 39 the lines between masculine and feminine. Jacket racket An easy way to get on board with this trend is to throw a great jacket over your outfit. Be it trousers, dresses or skirts, a jacket will add a certain, indefinable dandy edge to your curves. Oversized jackets, lavish coats, double breasted blazers, pea coats or fitted tuxedo jackets all lend a slight dapper and utilitarian allure to your feminine staples. Try ties Ties are the quintessential male accessories. Adding a colorful tie or bow tie to a pantsuit or skirt and shirt outfit in a muted palette is a nice finishing touch, jazzing it up. Dresses incorporating tie-like detailing are another fun on-trend choice. Shine-on in neon To keep the androgynous look in the vicinity of fresh and feminine, inject some vibrancy into your outfits with pops of neon; fluorescent yellows, bright oranges, electric blues, eye-catching pinks and vibrant purples. ANNEXURES International Environment: 1. According to WTO, World T&C(Textile & Clothing) exports grew by 14.6% from USD 525 billion in 2009 to USD 602 billion in 2012. World textile exports grew by 19.5%, from USD 210 billion in 2009 to USD 251 billion in 2012. World clothing exports grew by 11.4%, from USD 315 billion in 2009 to USD 351 billion in 2012. Foreign Trade Policy 2009-14 Additional benefit of 2% bonus, over and above the existing benefits of 5% / 2% under Focus Product Scheme, allowed for about 135 existing products. 256 new products added under FPS (at 8 digit level), which shall be entitled for benefits @ 2% of FOB value of exports to all markets. Tea and CSNL Cardinol included for benefits under VKGUY @ 5% of FOB value of exports. Zero duty EPCG scheme, introduced in August 2009 and valid for only two years upto 31.3.2011, has been extended by one more year till 31.3.2012. Duty Entitlement Passbook (DEPB) scheme has been extended beyond 31.12.2010 till 30.06.2011. Concessional Export Credit: Interest subvention of 2% for pre-shipment Ch. 3 40 credit for export sectors namely, Handloom, Handicraft, Carpet and SMEs for all export sectors. Exporters shall now have the flexibility to get a high value EPCG authorisation by filing their EPCG application on Annual basis. Clarification on the availability of 4% SAD refund benefit. Facility of a data preparation module for Advance Authorization and Export Promotion Capital Good (EPCG) has been provided on an offline mode. Finished Leather export shall be entitled for Duty Credit Scrip @ 2% under FPS. Duty free import of specified trimmings, embellishments etc. shall be available on Handloom made-ups exports @ 5% of FOB value of exports. Readymade Garment sector granted enhanced support under MLFPS for a period of further 6 months Political 1. India scores on- raw material availability & labor. India lacks on – limited diversification of export market. Low productivity of labour. Adequate investment. State of the art weaving and processing facilities. Machinery limit. 2. India textile industry currently generates employment to more than 35 million people. 3. India earns about 27% of its total foreign exchange through textile exports. 4. India ranks fifth among the top 30 emerging markets for retail. 5. Technical textile industry size to be around Rs 640 billion in 2010-11. 6. Government. has announced a package of Rs 3884 Cr for waiver of loans on handloom weaves and their corporate societies. 7. Rs 500 Cr pilot scheme announced for promotion of Geo-textile in North Eastern Region. 8. Rising home disposal expenses on textile which stood up to Rs 75 billion in 2010-11. 9. Apparel export to increase to $ 12.6 billion in PY 2011 which is 14% higher than the year 2010, but CY 2012, export will be flat due to subdued demand in the key export market and correction in raw material pricing. 10. Exporter should look at new market in order to reduce dependency on US & Europe which one battling economic slowdown. 11. Decreasing profit due to rise in cost of raw material. 12. Indian textile & apparel as an export category has outperformed several large textile producers of past including Germany, Italy, USA, Turkey, etc. 13. Ladies Dresses register growth in US, but down in India: With US $ 2,270.95 million worth of imports by the US in the first five months, ladies dresses were the third largest the biggest product category imported into the US. The volumes too are huge and in the period under review the US imported 25,731,744 dozen dresses from different manufacturing locations around the world. The category saw 10% growth in value from the same period last year, Ch. 3 41 with increase of 7.05% in volumes. India has not shown any worthwhile gains in the first five months of 2012 and even in its key product – ladies dresses, downfall in volumes is disappointing. The total exports of dresses during the period were 2,485,440 dozens worth US $ 219.60 million. The category saw decline of (-) 1.43% in value, while volumes saw decline of (-) 10.65% against the same period last year. China however registered positive growth in ladies dresses category both in value and volume terms during the first five months of this year. In value terms, the export of dresses from the country was worth US $ 1,122.35 million with volumes of 11,915,963 dozens. The product saw double digit growth in values of 10.78% while the volumes were up 13.34%. 14. Nightwear continues to see upward movement for India: A niche category of imports for the US, nightwear registered a marginal decline of (-) 0.98% in value from the same period last year. In volume terms there was a marginal growth in imports during the first five months of 2012 of 0.08% from the same period last year, total imports in the category was of 14,602,044 dozens, worth US $ 613.13 million. For Bangladesh, nightwear is not a major category with total exports from the country of just 683,689 dozens, worth US $ 18.37 million in the first five months. The category, however, saw 2.34% growth in value and 14.85% growth in volumes. For India, nightwear has always been a growth category and many exporters in the north have thrived on this category with Tirupur picking up the trend in recent times. During the period under review, India exported US $ 32.30 million worth of nightwear with 13.44% growth in value, volumes increased sustainability by 26.44%. (Source: Apparel Online India, Aug 16-31, 2012, pp 47). 15. Implementation of National Floor Level Minimum Wage: On the basis of increase in the Consumer Price Index(Industrial Worker), the Central Government has been revising the NFLMW from time to time. The NFLMW, which was Rs 80 w.e.f. 01 September 2007 and Rs 100 effective 01 November 2009, was raised on -1 April 2011 to Rs 115. 16. Indian organic textile exports are expected to rise by 50% to about Rs 1500 crores in 2012-13 with the introduction of a new national certification standard, according to agricultural and Processed Foods Export development Authority (APEDA). ( Source: Dealers for you inside Fashion, Vol.12, No. 7, pp 64). Economic 1. Zero duty EPCG scheme could be availed if the benefits of TUFS already availed are surrendered/ refunded with applicable interest. 2. If the applicants, who would have availed benefits of status holder incentive scrip (SHIS), surrender SHIS benefit subsequently with applicable interest to the concerned RA, they have been & made eligible to avail zero duty EPCG scheme. 3. 3 new sectors, namely, carpet, coir & jute, have been added to the existing list of sectors for which the conditions of maintenance of average level of exports is not applicable under the EPCG scheme, Ch. 3 42 as these labour intensive industries are finding it difficult to maintain such average export obligations. 4. SHIS scrips holders will now be eligible to import components and spares of capital goods imported earlier within a ceiling of 10% of the value of the scrip. 5. No requirement of transfer release advise. 6. DGFT has launched an extremely challenging and significant EDI initiative, ‘E-BRC’, which would herald electronic transmission of foreign exchange realization from the respective banks to the DGFT’s server on a daily basis, facilitating early settlement and release of FTP incentives/ entitlements. Exporters will now not be required to make any request to bank for issuance of bank export and realization certificate(BRC). 7. The facility of duty free imports of embellishments currently available against export of handloom, cotton and polyster made- ups has been extended to the export of synthetic made- ups. 8. Extension of 2% interest rate subvention to readymade garment sector till 31 March 2013. 9. Extension to the 2% MLFPS on export to the US & the EU till March 2013 in respect of items falling in chapter 61 & chapter 62. 10. The industry provides direct employment to over 35 million people and is the second largest provider of employment after agriculture. 11. Shirts, trousers, sarees, salwaar, kameez, jeans & T- shirt contributed more than 60% in RMG Market. 12. New Order of polyester garment is diverted to India from China. 13. The global fiber demand is more of the synthetics whereas Indian manufacturing is more geared up for manufacturing and processing cotton based products. 14. The total Indian consumption of textiles and apparel is estimated at ~US$ 57 billion, out of which apparel retail contributes to ~ US$ 40 billion, technical textiles contributes ~ US$ 13 billion and home textiles contributes ~ US$ 4 billion. The market has grown at a yearly growth rate of 13% over last 5 years. 15. The total exports from India have increased by 9.8 per cent in February 2012 over the same month of the previous fiscal, crossing over US$ 300 billion. Expecting a rise in volume of exports in this fiscal year. 16. The Indian textile industry contributes about 14 per cent to industrial production, 4 per cent to the countrys gross domestic product (GDP) and 17 per cent to the country’s export earnings. Socio- Cultural 1. Globally, almost a quarter (24 per cent) of companies has already fully adopted mobile workstyles. 2. Prohibition of child & forced labor: Manufacturers of Sewn Products should not use forced labor or any labour less than 14 years of age. 3. There are various social standards that have been developed by the international organizations such as Fair Labour Association (FLA), Council on Economic Priorities Accreditation Agency (CEPAA), Business for Social Responsibility (BSR), Ethical Trading Initiative (ETI), and Worldwide Responsible Apparel production (WRAP). 4. It is estimated that the Indian domestic consumption will become ~US $ 100 billion by 2016 growing Ch. 3 43 at an overall annual rate of 12%. 5. Prohibition of discrimination: Manufacturers of Sewn Products should employ, pay, promote, and terminate workers on the basis of their ability to do the job, rather than on the basis of personal characteristics or beliefs. 6. India will be adding ~ 14 mn people per year to its labor pool. Going forward, as this young population enters the Indian workforce there will be increased demand for work wear including formal clothing as well. 7. Increased participation of women in workforce has led to their financial independence. There is a direct increase in spending on corporate clothing, casual wear and party wear. 8. Increasing disposable incomes, expansion of stores and supporting economic factors will lead to higher sales in apparel. 9. Better purchasing power in the hands, access to fashion trends outside the country, and the superior quality of fabrics available in the fashion market. 10. India youth population below 25 years is approx 50%. As this young population enters the Indian workforce there will be increased demand for work wear including formal clothing as well. 11. Urbanization- 70% of the new employment being generated in urban areas. 12. As a result of brand consciousness, India is witnessing a change in lifestyle resulting in increased demand for western wear clothing & home furnishing. 13. On the basis of increase in the Consumer Price Index(Industrial Worker) The NFLMW(National floor level minimum wages), which was Rs 80 w.e.f. 01 September 2007 and Rs 100 effective 01 November 2009, was raised on -1 April 2011 to Rs 115. 14. Organizations must provide employees with the adequate working conditions and comply with all applicable worker safety laws and regulations. 15. Plus size clothing market is growing bigger in India : According to management consultancy Technopak, the plus size market in India, is almost worth Rs 11,000 crores and is on an upward trajectory with an estimated growth rate of 25 percent per annum. Retailers and brand like Revolution, ALL by Pantaloons, Biba, Gia by Westside, Mustard and Royal Classic Polo took fashion to a new level by introducing a different segment for plus size apparel. PLUSS, X’MEX, Geetus and Just Your Size are offering plus- size merchandise and opening separate outlets for extra- large clothes with constantly adding more sizes and designs. Currently, plus size clothing has a share of 0.15 percent of the total Indian Apparel market. ( Source: Dealers for you inside Fashion, Vol.12, No.7, pp 10). 16. Parameters of Social Compliance Working Hours - Companies shall maintain employee working hours compliant with national laws and do not exceed 48 hours regular as well as 12 hours overtime. Forced Labor - The use of forced labor is not acceptable. Organisations are not allowed to use forced or involuntary labor either directly or indirectly. Employment practices – These practices promote personal and professional employee development, Ch. 3 44 diversity at all levels and empowerment. So, organisations shall respect their employees. Wages & Benefits – Companies shall provide their employees with the minimum level of wages, overtime compensation and other benefits required by law and as per industry standards. Equality – Organisations should not discriminate employees on the basis of physical characteristics, beliefs and cultural characteristics. All the terms and conditions of employment should be based on an individual’s ability to do the job. Environmental laws - Organisations shall comply with all applicable environmental laws and regulations, which also include the regulations related to handling, recycling, and disposal of hazardous materials. Human Rights - Employees must not be exposed to physical punishment, threats of physical, sexual, psychological or verbal harassment or any kind of maltreatment. Working Conditions - Organisations must provide employees with the adequate working conditions and comply with all applicable worker safety laws and regulations. Child Labor - It is the most important parameter considered for social compliance today. No person shall be employed less than the legal minimum age of 14 years for working in any circumstances. Also, the children under the age of 18 must not be employed in hazardous work, night shifts work, and should be allowed more breaks than adults. Technological 1. Demand increasing in spinning machines, textile finishing, embroidery and garment industry. 2. Higher density planting System (HDPS) t increase cotton production. 3. The Technology Upgradation Fund Scheme (TUFS) is the flagship Scheme of the Ministry of Textiles which was launched on April 1, 1999. 4. Scheme for Integrated Textile Parks (SITP)- The Scheme was introduced to neutralize the weakness of fragmentation in the various sub segments of textile value chain and unavailability of quality infrastructure. The primary objective of the SITP is to provide the industry with world-class infrastructure facilities for setting up their textile units to facilitate textile units to meet international environmental and social standards. 5. Integrated Skill Development Scheme (ISDS)-Integrated Skill Development Scheme was launched by the Ministry of Textiles to train candidates according to the industry needs, provide professionals skills in multiple fields in textiles, and provide knowledge to the working professionals on the developments in the industry. ISDS aims to train over 27 Lacs people within the next 5 years. The scheme would cover all the sub sectors of the textile sector such as textile and apparel, handlooms, jute and sericulture. Ch. 3 45 6. Technology Mission of Technical Textiles (TMTT)-Government has launched TMTT with two mini missions for a period of five years (from 2010-11 to 2014-15). The aim of TMTT is to address the issues like lack of basic infrastructure in terms of testing facilities, lack of market development support, skilled manpower, lack of R & D, absence of regulatory measures, absence of specifications and standards for technical textiles etc. The total fund outlay for TMTT is Rs 200 Crores. Mini Mission I of TMTT is aimed at Standardization, creating common testing facilities with national international accreditation, indigenous development of prototypes and resource center with IT infrastructure, incubation centre by establishing four new Centers of Excellence (COEs) and upgradation of existing four COEs. Mini Mission II of TMTT is to provide support under 6 components, i.e., a. Support for business start-up; b. Providing fund support for organizing workshops; c. Social compliance through standardization, regulatory measures; d. Market development Support for marketing support to bulk and institutional buyers; e. Market development Support for export sales and f. Contract Research and Development through IITs/TRAs/Textile Institutes. 7. Development of Mega Cluter – is to enhance the competitiveness of the power loom clusters, Handloom clusters & Handicraft clusters, in terms of increased productivity by higher unit value realization of the products. 8. Asia Calculator, a cutting edge web service dedicated to international Importers working with Asia, allows international Buyers to (a) get easily and instantly full import costing (freight + duties) online; (b) invite their current freight forwarders to connect for free, and manage freight quotes online; (c) compare freight costs and connect with new freight forwarders; (d) get applicable custom duties instantly; and (e) manage securely import costing files within their company, including stats and access rights setting.( Attire World, May 2012, pp 39) 9. INVISTA has launched its COOLMAX fabric brand in India, this fabric is a unique performance fabric that moves moisture away from the body whilst enhances fabric drying rate, thus keeping the wearer feeling cool and dry.( Apparel Online India, Aug 16-31, 2012,pp 42). COMPETITORS ANALYSIS FABINDIA: PRODUCTS & THEIR PRICES Their product range includes garments, home furnishing, home linen, accessories, personal products, floor coverings, organics etc. Ch. 3 46 But AS here we are mainly concerned with women wear garments and accessories. We are discussing the price of women wear. 1. Kurtis and Kurtas – Rs.690 to Rs. 2990 2. Tops and shirts – Rs. 360 to Rs. 1790 3. Dresses – Rs. 560 to Rs. 1890 4. Dupattas, stoles and shawls – Rs. 690 to Rs. 2190 (shawls) 5. Salwar and Churidar – Rs. 390 to Rs. 1190 6. Sarees – Rs. 1190 to Rs.5290 7. Pants and capris – Rs. 690 to Rs. 1160 8. Skirts – Rs. 990 to Rs. 1490 9. Bags and Jewellery – Rs. 150 to Rs. 1690 PLACE: Its stores are located in all major cities of India. They have 168 stores in 5 countries and 73 cities. Besides India they are in Italy, Mauritius, UAE and Nepal. Also its products can be bought online. PROMOTION: 1. They promote their product through advertising in magazines. 2. They do special promotion programs like providing discount coupons for different credit card purchasers, hotel guests and online customers. 3. Also they have seasonal discount schemes. BIBA Ch. 3 47 PRODUCTS AND PRICES: 1. Top – Rs. 599 to Rs 899 2. Kurti and Kurta – Rs. 699 to Rs. 1199 3. Salwar suit and Kurta churidar with dupatta – Rs. 1999 to Rs. 2999 PLACE: They have outlets in few major cities of India. They are selling their product more through internet. PROMOTION: They do promotions through advertising in women journals, casting renowned models. GLOBAL DESI PRODUCTS AND PRICES 1. Kurta – Rs. 509 to Rs. 1356 2. Tops and Tunic – Rs. 599 to Rs. 1196 PLACE: Their stores are available in all major cities of India. They are in 19 cities of India. Also their products can be bought online. PROMOTION: They do promotions through advertising in women journals. Also through various social activities like recently their collection was based on paintings made by poor kids. Ch. 3 48 ANOKHI PRODUCTS AND PRICES 1. Stoles and shawls – Rs. 899 to Rs, 3499 2. Kurtis – Rs. 1299 to Rs. 2699 3. Tops and Tunic – Rs. 699 to Rs. 2099 4. Dresses – Rs. 999 to Rs. 2999 5. Salwar kameez dupatta set – Rs. 1999 to Rs. 3599 PLACE: Their stores are in 14 cities of India. Also they are in other parts of the world like UK, USA, Australia, Mauritius, Italy, Japan etc. PROMOTION: Seasonal discounts in festive seasons. MELANGE: It is an ethnic wear brand for men and women from Lifestyle. Here we are doing research work for women wear. PRODUCTS AND PRICES: 1. Tops – Rs. 485 to Rs 1735 2. Denims or Capri Rs. 999 to Rs. 2199 Ch. 3 49 3. Kurtis – RS. 889 to Rs. 3265 4. Patialas or leggings Rs. 499 to Rs.685 5. Salwar kurta and duppat set Rs. 1635 to Rs. 5429 PLACE: Melange collection is available at Lifestyle stores, which are in all major cities of India. Online is also an option where its collection is available at their site and at other online stores. PROMOTION: In women journals and media they promote their brand through models and actresses, like recently Deepika Padukone has done photo shoot for them. Also they give various promotional discounts. Jean Paul Gaultier F/W 2012 womenswear For his F/W 2012 womenswear collection, French fashion designer Jean Paul Gaultier hits the street, and gets inspired by graffitis and spray-painted letters that decorate the strong and powerful looks displayed on the Parisian runway. The streetinspired collection also meets an androgynous and masculine twist, as displayed by the strict looks that come straight from men's wardrobe. Black is the main color of the whole collection, mixed with neon shades, especially for accessories, details and graffiti inspired prints, while metallic dazzles define a bold and strong silhouette. Ch. 3 50 BIBLIOGRAPHY WEBSITES DGFT, I. (2012, 07 02). India Export Import Policy. Retrieved 10 3, 2012, from http://www.dgft.org/export_import_exim_policy_india.html. 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