|The Indian retail industry has been growing by leaps and bounds, but the sourcing options have been very limited and this very face has been one of the biggest reasons for the success of the Apparel Sourcing Week concept. With the right synergy, ASW’19 directly addressed the sourcing gap that exists in Indian Retail, hitting the bull’s eye. The Indian retailers as well as the international buyers visiting the event were impressed by each of its dimension right from the top-class exhibitors, good quality products, stimulating business environment, standard of organisation, interactive knowledge platforms to unparalleled networking opportunities.|
|The Thrust of ASW’s first event was on Indian retail, the idea being that while everyone talks about Western markets, few realise the potential that Indian market holds. It is imperative to note that while clothing sales is growing at the rate of 6.7 per cent in the US, it is an impressive 9.7 per cent in India. Even as the local players grow, the influx of international retailers over the last decade has been a stimulus in fast-tracking growth in the Indian retail scenario and today the world is looking towards India as the next big market place for fashion. And this reality is just the beginning – enough to give the much-needed impetus to the intent behind creating a show like Apparel Sourcing Week.|
|Given the size and diversity of the Indian fashion retail market, there’s no better option than forging new tie-ups with suppliers from the established manufacturing destinations of Bangladesh, Vietnam and China. Flexible, price-competitive and committed as they are, manufacturers from these Asian manufacturing strongholds are the best bet to meet the demands of the rapidly growing fashion retail, which is set to touch a whopping US $ 115 billion by 2025.|
|Indian retailers and brands like Future Group, Reliance Trends, Aditya Birla Group and Raymond’s, in their bid to expand further, have already started developing their vendor base for sourcing certain products from Bangladesh, Vietnam, China and Sri Lanka in order to enhance their competitiveness, locally and internationally. ASW ’19 was a catalyst in this entire process.|
|International Retailers happy to attain 'India Focus' for direct sourcing.|
|Not just are the international brands and retailers in India like Tommy Hilfiger, M&S, Zara, H&M, Mango growing, but they have also started taking buying decisions for the market directly, debating and studying markets from where to buy and why. The teams sitting in India understand the market and are better equipped to source the right product that would appeal to consumers in the country. This is besides the advantage of speed to market as the products will come directly to the stores from the manufacturing destinations instead of being re-routed from distribution centres in the West. ASW ’19 was an opportunity to widen the horizon for international retailers looking to source directly.|
|The thriving retail environment in Bengaluru, the city of choice for the event, was enjoyed by the exhibitors, as they understood why Bengaluru has become the home of many retail offices, with the buying and sourcing teams getting a first-hand feel of what the consumers want. Headquarters of Reliance Trends, Future Group and Tata Trent many be in Mumbai, but their sourcing offices are based in Bengaluru. Similarly, sourcing teams of Arvind Brands, Aditya Birla Fashion & Retail, H&M, Lifestyle, Max to name a few are placed in the city.|
|The smallest of details of ASW, from on-time seminars to infectious hospitality, were the talking point for both exhibitors and visitors. Not to deny that the venue, ITC Gardenia, located in the heart of Bengaluru and one of the most coveted locations, only added to the show’s long list of positives.|
Apparel Sourcing Week 2020, a three-day Sourcing Show not only provides the Asian manufacturers a platform to showcase their products & manufacturing capabilities to the Brands & Retailers from all over the world including India, but also extends them a chance to attend the multiple seminars (headed by industry experts), workshops, open-house discussions and networking opportunities organised during these three days, which would help the manufacturers get a better understanding of Indian and International Retail and evolving dynamics of sourcing in various markets and retail formats.
Apparel Resources is well known for its benchmark publications – Apparel Online, StitchWorld and Resource Guide published from India, Bangladesh & Vietnam. These publications have been around in the industry for over 35 years, supporting, guiding and standing by garment exporters and the retail industry globally, providing them a platform to source better.