|The ASW Marketplace held its third vendor meet with Buying Office Ethical Sourcing that has clients in the US and Europe. The company has international partners in Hong Kong and Copenhagen that are constantly reviewing and seeking out market opportunities for the office in India to work on. The motto of the buying office is to never disappoint a customer and find a way to fulfil all legitimate, yet difficult demands.|
|The vendor session on the Marketplace was addressed by Director Sourcing, Sanjay Thakur, who co-founded Ethical Sourcing almost 7 years back after stints with few international retailers including IC company. With his over 25 years of industry exposure, Sanjay firmly believes that no matter what, business can be done ethically with honesty and integrity protecting each other’s interests.|
|Ethical Sourcing supports its vendor partners from product development, design, raw materials, to fabric purchases and sourcing, optimising the critical paths, production source and manufacturing, providing all logistics and traffic services to bring products with deliveries to door.|
|While the earlier two meets - EasyBuy and Jockey India - were centred around the Indian retail market – the Vendor meet by Ethical Sourcing reflected the current business scenario. Sanjay shared many inputs and is confident that vendors who have good products that are relevant to the market and willing to work in smaller quantities would be in demand in the next few months. “What worries me is the raw material cost”, said Sanjay. A thought that resonates with industry sentiments.|
|Besides encouraging vendors to collaborate with buyers for mutual benefits, he stressed that being flexible on all parameters except compliance is the need of the hour. Claiming that Sedex compliance was the minimum threshold for starting any conversation, Sanjay also stressed that every buyer had its own commitments to sustainability and the factor was becoming very critical in forging partnerships.|
|Sanjay shared that opportunities are not static and buyers today are looking for quick answers to their evolving needs and hence working with sourcing offices that has a vendor base for a wide product possibility is growing. Ethical Sourcing is currently seeking vendors who are looking for long-term relations not only in existing product categories but are also ready to work with buying offices to develop new categories and products.|
|Besides fashion products, which the buying offices specialise in, mostly for womenswear, Ethical Sourcing also happens to be among the sourcing companies for whom PPE is not an opportunity category, but a strong regular product with long-term sustainable growth projections. The company is working with many institutional buyers for protectivewear.|
|The Ethical Sourcing Director also very honestly shared that they are not yet ready to source from Bangladesh, but the work to create processes to effectively source from the country has begun and very soon, the company hopes to enter the market with the right manpower and market intelligence. However, Sanjay did admit that he was open to meeting vendors from Bangladesh to understand their strengths so as to fast-forward the efforts.|
|The growing number of attendees at the vendor meets and the array of questions being asked during the sessions is a clear indication of how the B2B Matchmaking sessions on Marketplace are gaining popularity as a viable marketing tool to meet and interact with prospective buyers.|
|With these vendor meets, under the B2B Matchmaking initiative, the ASW Marketplace team is positive that not only will associations be forged, but actual business will also follow in due course. Already more than 10 meetings have been conducted and some more are lined up. Many more business generating activities are being planned for the coming days.|
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.