Job Profile of a Retail Planner

Job Profile of Retail Planner

Broadly job of a retail planner can be classified under buying planning, stock management planning display, location and ensuring policies and procedures while doing everything as mentioned before. MFM students are  very much in demand for this kind of profile. 

Buying Planning

Planning OTB ( Open to Buy) to optimize sales and sell throughs. It also means buying and planning inventory for the season. She also has to plan the liquidaiton of old inventory before the arrival of the new product cycle. She has to plan the seasonal sale and mark downs for the product, during sale period. 

Stock Management

It includes to replenish stock levels regularly and to coordinate optimum stock is available at the store at all times. While doing that the RP has to adhere to all the comapny rules and procedures. An RP also has to identify stocks that are fast, slow and non-moving and to provide regular feedback to brands. She has to recommend price revisions whenever required looking at the movement of products. Stock turn is also one of the key parameters to check for an RP. She has to ensure that ageing standards are followed and the stock turns are maintained as per company policy. She has to track damage control and ensure that shrinkage levels are maintained in terms of manufacturing defects, customer returns, on the floor damages and transit damages. 

Display

This includes ensuring that stock display is as per planograms given by VM and buying team to make maximum use of space and store resources. 

Location

At senior levels, the job of retail planner can be to identify the locations where stores can be loacted to enhance the brand image across the country. 

Policies and Procedures

Sometimes an RP has to define and ensure effective implementation of standard operating Practices for enhanced level of customer service and satisfaction. 

Know you Merchandise- Dress Shirt

A Shirt ( also called in US as dress shirt) is a garment with a collar,sleeves with cuffs and full vertical opening with buttons or snaps ( Wikipedia).

Anatomy of Shirt

An amazing website to learn the anatomy of shirt is here. I am reproducing a part of the images from that site.

Collars: Source

Cuffs: Source

Fibers

Mens shirts are available in 100% cotton, Polyester/cotton (6.5-7.5$), 100% silk, Spandax/cotton, 100%  organic cotton, Spandex polyester and 100% polyester.  They are also available in viscose/cotton blend.  

Features of Fabrics

The USP of fabric on which they are sold at can be anti-wrinkle, anti-shrink, breathable, anti-pilling, Eco-Friendly and quick dry. 

Styles

Mostly they are available in Long sleeve and short sleeve. 

Source

The important producing contries are China, India, Bangladesh and Pakistan. 

Surface Techniques/Design Features

They can be yarn dyed, plain dyed, printed, tye-dyed, washed, embroidered (Embroidered shirt on 100% cotton  is available for 14-16$ per piece at an MOQ of 1500 pcs), garment dyed or even beaded. 

Fabrics

They are availble in solid colors, stripes or plaids. Important fabrics are broadcloth( A popular fabric 40 x 40, 133 x 72, 100% Cotton - yarn dyed Shirts available at 5-7$ at a moq of 800 pcs), poplin, dobby, twill, herringbone, flannel, valour and batik. Men's oxford is generally made of CVC ( Chief Value Cotton - 60/40 Cotton polyester), 108 x 58, 100D x 32s/2(100% Cotton)

Seasons

They are available for all four seasons. They are available in S, M, L , XL or XXL

Fits


Shirts are available in three different fits: Comfort fits: wider fits for comfort, Classic Fit: traditional fit and  Slim Fit: it sits close to the body.

You can have a look at different shirts here.

Know Your Merchandise- Bathrobes

This is the First of the series that I plan to bring about for the benefit of students, who are preparing for entering into such industries. It would also give a brief overview of the overall category. 

These are mainly used in the hotel industry. A bathrobe is usually made from toweling or other absorbent textile, and may be donned while the wearer's body is wet, serving both as a towel and an informal garment.

The common Types are as follows:

1. Organic Bathrobes: These are made of premium range of organic cotton. These are suitable for both the genders. 

2. Terry Bathrobes: Most of the bathrobes are terry bathrobes. Made of 100% cotton these can be plain dyed and are available in various sizes such as M, L XL or XXL. Their supply price is 5-10$ FOB. These can be made of bath towel, with rectangular shape. These can be woven in jacquard if design is offered. Common yarns used are 21s, 16s and 32s. The weight varies from 380gsm to 700gsm. Sizes are normally 70cm x 140cm, 50cm x 100cm, 40cm x 60cm and 30cm x 50cm. Normally they are available in the packings of 12pcs/bag, 48pcs/carton or any other customised order. Some amazing pictures are available here and here.

3. Waffle Bathrobes. These are made of 100% cotton waffle. These are breathable and quick dry. These are available in various sizes such as S, M, L , XL or XXL. To know more about waffle weave, you can click  here

4. Dobby Bathrobes: These are made of 100% cotton, Quick dry and made of dobby fabric. The yarn is ring spun of 16s made pile for soft feel and 2x20 ring spun yarn for ground or base to give strength. Available in all sizes, they have weight from 350 to 500 GSM. These are available in many colors. Availble in 5-10$ per piece of production. These are wrinkle free, durable and colorfast. 

5. Baby Bathrobe: These are also offered in organic cotton. These can be made of very soft knitted terry. Usually they are with hood. These are also offered in 100% polyester in fleece quality. These are also availabe with contrast piping. Take a look here and here

6. Valour Bathrobe: Velour or velours is a plush, knitted fabric or textile. Velour is a knitted fabric, allowing it to stretch. It combines the stretchy properties of knits such as spandex with the rich appearance and feel of velvet. 

Styles of Bathrobes

These are available in Kimono style, Shawl collar, hooded, luxury, zipper and wrap. . 

Know more here

Market

Welspun is the largest manufacturer of Terry Towel in the country. They sold 313,000 units of Bathrobes in FYI 2010-11

You can view a complete catalog of bathrobes here. A very nice catalog is also displayed here. One size chart can be seen here.

This is an interesting article describing how hotels deal with bathrobes.

Brand Management- Cheat Sheet

A brand is a name that creates its own connotation in the consumer’s mind. It may not create any connotation.  Companies strive to build positive connotation in the consumer’s mind.

Brand equity is a set of tangible and intangible assets linked to a brand name that either add (or subtract)  the value provided by a product to a consumer.

The set of assets consists essentially of four categories: Brand name awareness, brand loyalty, Perceived quality and brand associations.

Brand name awareness has the following attributes: recognition, recall, TOMA, Dominance. Remember high recognition is not a mark of strong brand, recall is also important. Also recognition and recall should be positive. Brand association means what the organization stands for in the consumer’s mind.

Brand Equity is from Marketing perspective, it is what marketers use to measure brand equity.

Brand identity is a unique set of association which a brand strategist aspires to create or maintain.

It has four parts:
-Brand as product
-Brand as organization
-Brand as person
-Brand as symbol

BI structure includes a core and extended identity. The core identity- the central , timeless essence of the brand is likely to be constant as the brand travels to new markets or products. The extended identity includes BI elements, organized into cohesive and meaningful groupings that provide texture and completeness.

Brand identity is not something that gets customers to buy a product or service. It should be used as a vehicle to enthuse internally.

Brand identity is the tool by which value preposition and credibility is generated.

Value proposition has four parts- Physical Benefits, emotional benefits, Self Expressive benefits and relative price. Credibility leads to purchase.

Planning for brand identity is done by Strategic Brand Analysis- which gives customer analysis, competitor’s analysis and self analysis.  It is implemented by Brand position statement ( that part of brand identity that is actively communicated to the customer), Executive communication program and tracking.

Remember
1. We Analyze by doing strategic brand analysis ( Customer Analysis, Competitors’ analysis and Self Analysis)
2. We implement it by brand position statement, executive communication program and tracking
3. We create brand identity – Unique set of association ( Brand as product, organization, person and symbol) by doing 1 and 2  which leads to value proposition( Physical, emotional, self expressive and relative price) and credibility for customer which leads to favorable response.
4. We measure 3 by measuring brand equity – Set of assets that either add or subtract value for the customer-

We measure brand name awareness (recognition, recall, TOMA, dominance), brand loyalty, perceived quality and brand associations.
We go back to 1. If needed.                

Overview of Jewellery Industry in India

There are some conflicting figures related to World and Indian Market size. It is due to the fact that the exact size of Indian market is not been estimated correctly. 

Global Gems and Jewellery Market

According to CARE Research, the US is the world‟s largest market for jewellery accounting for an estimated 29% of the world jewellery sales in 2008.The US is followed by China (11%) , India (10%), the Middle East (9%) and Japan (8%) as the biggest consumers. In Europe, the UK(4%) and Italy (5%) are the largest consumers, and Italy is also one of the world‟s largest jewellery fabrication centres. These seven key markets account for about 80% of the total worldwide sales.

According to the CARE Report, global retail sales value of jewellery, including diamonds and gemstones, is expected to reach US$185 billion in 2010 and US$230 billion by the year 2015 growing at CAGR of 4.6% between 2010 and 2015. In 2005, sales totalled US$146 billion and grew at a CAGR of 4.8% between 2005 and 2010 period. During 2009, the world GDP decreased by 0.8% to US$57,228.37 billion while for 2010 and 2011, world GDP is estimated to grow by 3.9% and 4.3%, respectively, according to International Monetary Fund (IMF). Historically, it has been observed that the correlation between the global jewellery sales and world GDP was very high at 0.99.

Of total global sales of US$146 billion in 2005, diamond-studded jewellery was the largest segment, representing 47% of total jewellery consumption. By type of jewellery, diamond-studded jewellery accounted for the largest share of the global jewellery market, followed by plain gold jewellery (42%).

Indian Gems and Jewellery Sector

According to CRISIL Research, the Indian jewellery retailing market is estimated at Rs. 973 billion as of 2009-10, contributing around 6% of the overall retailing industry in India. This makes jewellery the largest contributor of India‟s overall retail industry.Within the jewellery retailing market in India, the share of gold jewellery is estimated to be around 80%, according to CRISIL Research.The two major sub segments within jewellery are gold (22 carat and above) and diamonds, with the former constituting of 80% of the value of jewellery consumption and the balance 20% comprising of diamonds(15%) and gemstone jewellery. The overall size of domestic Gems and Jewellery sector is pegged at Rs. 870 billion as of 2008-09 according to a FICCI-Technopak study and is expected to grow up to Rs. 1,832 billion by 2014-15.

In India, organised retailers account for a mere 4% of the total jewellery retail market.There are about 15,000 vendors across the country in the gold processing industry, with over 450,000 gold smiths spread across the country. There are also more than 6,000 vendors in the diamond-processing industry.

Gold is consumed most in south(37%),west(32%) , north(18%) and east(13%) in that order. In 2009, total Indian gold consumption reached US$19bn or Rs. 974 bn equivalent at the end of 2009. Over the past decade, this has increased at an average rate of 13% per year, outpacing the country‟s real GDP, inflation and population growth by 6%, 8% and 12% respectively.

Gold jewellery demand in India, the world‟s largest gold jewellery market, rose 67% year-on-year to 272 tonnes in the first half of 2010. Over the same period, the average domestic gold price surged to almost Rs.52,800/oz, before hitting a new high of 60,460/oz on October 15, 2010. Gold jewellery accounted for around 75% of total Indian gold demand in 2009, the remainder being investment (23%) and decorative and industrial (2%).

Dimonds are consumed most in West(35%), North(32%), South(25%) and East(8%) - in that order. 

Trends for Gems and Jewellery in India

The growth outlook for the gems and jewellery sector in India is stable and CARE Research expects the domestic industry to grow at a CAGR of 10-12% up to 2015. There is a shift in consumer preference to low priced diamond jewellery which is about 50% cheaper than normal diamonds and also cheaper than pure gold jewellery. Consumers are gradually preferring diamonds because of the guaranteed buy-back schemes, transparent written pricing and, most importantly, third-party certification. Branding and organized retail share will grow in urban markets and the focus on rural markets will increase. According to CARE Research, family owned businesses will need to move towards greater degree of professionalism and trust on the neighbourhood jeweller will be replaced by the hallmarking and certification of jewellery. Apart from that particularly in Jewellery, the following trend shift is observed:

1. Gold Jewellery which traditionally generates its demand from investment viewpoint and traditions, now is regarded as a fashion accessory by the young population. 

2. The demand that used to peak during wedding and festive seasons, now increasingly getting evened out throughout the year for regular wearing and gifting purpose. 

3. Trend is shifting from pure gold-22 caret in traditional designs. More and more now low carat and lightweight jewellery is preferred. Moreover, modern and contemporary designs are finding their way. 

4. Traditionally purchase from neighbourhood jewellers used to dominate purchases, which lacked transparency. Now there is growing preference for brands, retail store and e-retailing. There is an introduction of hallmarking and certification. 

5. Gold jewellery used to dominate. Now there is an increased preference of white gold, platinum and diamond studded jewellery. Even imitation jewellery is gaining acceptance. 

6. Traditionally gold jewellery is sold on prevailing gold price plus labour charge. Now branded players sell on fixed price basis. 

Industry Concerns

Some of the key concerns faced by the jewellery retailing industry, even as it is getting increasingly organized and a branded play, are as mentioned below.

Volatility in raw material prices

According to CARE Research, Indian consumers have a tendency to postpone their purchases until the prices seem reasonable and restrain from panic buying. It has been observed that consumers lay emphasis on stability of gold prices rather than absolute prices of gold to make their purchases. Retailers who quote making charges as a percentage of the raw material cost may be negatively impacted by a significant decline in gold or diamond prices.

Long gestation period

Retailers across verticals typically face long gestation periods for their projects. This is mainly because retailing (including jewellery retailing) is a low margin business. According to CRISIL Research, in case of jewellery retailing, profits earned by large organized players are exclusively on making charges. Apart from this, brand establishment is a long process and according to CRISIL Research it can take three to four years for a retailer to establish a presence in a market, due to the highly fragmented jewellery retailing market.

References

http://www.sebi.gov.in/dp/tribhovandasdraft.pdf

http://www.sebi.gov.in/dp/jayalukkasdraft.pdf

http://www.sebi.gov.in/dp/ratanchanddraft.pdf

Overview of Women Indian Ethnic Wear Market

The current market share of sarees and ethnic wear stands at Rs. 31,000 crore and is projected to grow at 10 per cent to reach Rs.45,000 crore in 2014.

Growth Drivers

Traditional ethnic wear in India comprises primarily of sarees and salwar kameez and dupatta (SKD) and other regional attire. There are a number of factors that act as a catalyst for the growth of ethnic wear:

Increasing female workforce

In the era of 21st century, education has spread throughout the world and so in India. This has resulted in an increase in the number of educated women which in turn has increased the female workforce. The majority 

of India’s female workforce still prefers to wear the traditional Indian SKD to work. This boom in the service industry has resulted in an increase in the size of the female workforce from 5 million in 2001 to 7–10 million 

in 2010. Therefore, the size of the market for women’s Indian wear has increased and is likely to do so in the future as well.

Personalised designs and styles

In comparison to the western wear, the Indian wear still gives a lot of flexibility in terms of getting personalized designs, cuts and styles made. Majorly the western wear falls in the ready to wear category and the designs and styles are restricted to the available stock with the shopkeepers whereas the Indian ethnic wear is generally tuned to one’s preference specifically design sensibility and fitting.

Traditional occasions and festivals

Traditional occasions like marriages, family functions and festivals are the part of life of an Indian family. On such occasions, Indian wear is still the most preferred choice for most of the women. Majority of women still 

has a large collection of ethnic wear in their wardrobe for various occasions. The purchasing power and the willingness to spend have played a big role in increasing the varied collection in the wardrobe of Indian 

women giving her a flavour of different traditional and contemporary designs.

Current Market Scenario

The current Indian ethnic wear market is highly unorganized with a few branded players operating primarily in metropolitan cities. The organised sector has players like W, Biba, Fabindia, Tacfab, Hakoba, Prafful, Vipul, etc. catering to the low to mid segment. Satya Paul, Anokhi, Meena Bazaar, CTC cater to the premium and super The Indian sarees have never lost its grace, beauty and elegance. This beautiful fashion attire has spanned ages in India, and still exists as the quintessential element in every Indian woman’s wardrobe. The saree in India has constantly changed in looks, designs, styles and fabrics from generation to generation. These sarees are adorned with various embellishments like mirror work, zari, embroidery, zardosi, kundan, pearl work, etc. Inspite of the above modern works, the traditional regional sarees like bandhej, banarasi, patola, kanjeevaram, kantha, phulkari, chikan, etc. are still popular. 

Very popular and widespread Indian attire is the salwar kameez. The changing face of SKD is perhaps the biggest success of this category through the fusion of fabrics, prints, styling and fits. More and more women prefer to wear the Salwar kameez because it is more convenient. This has given boost to the Indian salwar kameez industry too.

Challenges for Ethnic Wear

In spite of the growth factors in the sector, there are a few challenges that market players need to be aware of before entering the market.

A good fit is essential

The good fit is one of the major characteristics for any dress. Indian women body sizes vary a lot across different age groups and regions. For example, North-eastern women are comparatively slimmer than women in north Indian states like Punjab or Haryana. A proper fit of ethnic wear is very important to suit customer requirements across segments. Feasible research on the target segment, well-trained designers and other local 

requirements need to be addressed. Across diverse regions no unified fashion India has rich and varied textile heritage. Each region of India has its own unique native costume and traditional attire and accessories. One 

has to be very careful of the trends prevalent in different regions. A country of India’s size and diversity poses a challenge. Designers and market players must understand all these varied trends and come out with a line of desired products.

Given its flexibility, comfort and traditional appeal, Indian ethnic attire is very much in demand and the market for it poised to grow. Organised players and designers can tap into a lot of opportunities by coming out with a fusion of basic, traditional yet modern styles. Brands can revive age-old prints and traditional/regional apparel further to meet the growing demand from both national and international clients.

Understand the market

The global scene across India shows that the fashion adaption is as diverse as the culture across the country. Indians like to experiment and fuse western wear with Indian designer clothing, adapt western wear with Indian designer clothing, adapt western trends and indianize them as per local trends, they look at film celebrities and designers for inspiration. This factor makes the Indian market all the more complex to understand and dwell in.

Competition from unorganised market

Since the organised market for Indian ethnic wear is still not very big, there is direct competition from the large unorganised sector. Most offerings come from regional stores in different localities, as they are better able to sell products to meet customers’ requirements. 

Read More Here 

Fashion Design Vs. Fashion Management

Fashion Design Vs. Fashion Management

Here is a mail that I have received. I have changed the mail to suit the need of this subject.

“…I am doing internship at … after second sem of MFM of NIFT…

I am quite confused right now what I should do after this course. I am more confused because I find this course  rather vague.

I am getting more discouraged when I compare the placement potential with my design peers. To give you an example, I have my friend like this girl who did her Bachelor in Design from NIFT.  She is working in an export house. She has a very good designing sense and she is very hard working. From very first month buyers of that export house have started liking her design. I am very sure as company owner is very happy with her so she might get 100% appraisal in just two months.

She told me that in export houses like she is working with, People who come after doing fashion management gets Merchandising post and they don't get appraisals like she is expected to get. The full company runs on Designer's shoulder.

 I do not want to work as a merchandiser in an export house because there designers always remain in limelight and merchandisers rarely are given proper importance.

What should I do?” 

Here is a classic case of basic conflict that is seen in apparel organizations. This conflict is not only observed in export houses but also in retail organizations. Many companies like Shopper’s Stop are merchandise centered. It means there designers have the upper say in anything. However companies like Pentaloon are market led, where Fashion Managers run the show and have a stronger say. The basic reason of this conflict is hidden in the way an organization is evolved and its core competence.

My advice to you, look for a market led organization. There are many in Apparel retail and export house. But, if need be work with such designer-led organization to get a hang of the thinking that is prevalent in such organizations and use them to uplift your career. And then if you grow big, among equals, you can give preference to Fashion Managers than Fashion Designers in recruiting and promoting. 

Some Terms Related to Fashion Industry

Style

It is the characteristic appearance of the garment or accessory. Skirts, for example are a style. But now there is a variation in skirts also which are also referred as style eg. skirts are straight, flared or pleated. Styles do not change, although their acceptance by customers do change periodically.

Taste

A personal feeling about a particular style. When people speak of good taste, they are referring to the appropriateness of a style for a particular use or occasion.

Fashion

It is a style accepted by a majority of a group. Styles likes Flared pants and turtleneck sweaters become fashion only when a majority of the consuming public accepts and purchases them.

Haute Couture

 High Fashion

Pret-a-Porter

Ready to wear premium range collection.

Silhouette

It is a garment shape or outline. There are four basic shapes in women's apparel. They are Tubular ( Fall Straight ),  A-line ( Falls from shoulder extending to hem), Wedge ( Which has greater width in the upper body than the lower body)  and hourglass (It has equal shoulder and hip width and exaggerated waist indentations).

Knock-Off

A garment that has been copied from the design of some expensive item of clothing.

Sources ( Adapted from)
The World of Fashion: Jay Diamond and Ellen Diamond

Some GD Topics for MFM

Here are some of the topics:

1. Comment on the statement "...the fashion world pays lip service to the notion of change, because in truth, it hates change. It likes what it sold yesterday, and to make fashion saleable for tomorrow, it will add a few bells and whistles and surround the whole thing with hubba-hubba seduction...". How retailers and designers will respond to this challenge.

2. "As Consumers are getting older, the fashion searches for the fountain of youth. Not so long ago, young people aspired to look older....But these days, rather than dressing up...women are dressing young...". How retailers and designers will respond to this challenge ?

3. "Powered by technological innovations, internet and globalisation of fashion, the life span of a fashion trend is reducing drastically." How retailers will respond to this trend.

4. "The New Mantra for todays' stores: Time, Space, Quality".

5. "Fashion Designers are venturing into Home Fashions"...."But do the skills that make someone look good at shaping a jacket, for instance, necessarily translate into making tables and chairs..."

Opportunities in MFM for Software Professionals

Sometimes I receive mails like this:

" I am a software engineer by profession and in the industry for 6 years. I have been slogging in a field I had little interest and just because of our social structure which pushes you to deliver your best in anything you do; I have been doing well all these years. A while ago I was wondering if I am in a field where I have interest in; I would be a happier person and could deliver even better results. That is how I came across fashion management and the MFM course offered at NIFT....."

Such students sometimes wonder how MFM program can integrate their career with the software degrees they carry. In fact it provides them with many opportunities. 

Broadly we can divide the opportunities into three categories. The first I call as the direct benefits. These are the ones where the knowledge of software helps into getting a specialist jobs. This category include ERP designing and implementing in an apparel industry. It also includes jobs in retail consultancy companies. I have also seen students getting placed in Visual Merchandising Software companies and even data base management companies working for retail projects. 

The second category is the broadest. These are indirect benefits that you get from the knowledge of software skills. The benefits range from shortcuts in excel to actually be in the team responsible for ERP implementation in the organisation. Increasingly software professionals are becoming the first among equals when applying for jobs. As more and more companies are getting IT as the central part of the strategy, they find a fashion professional with software skills very helpful. 

With the advent of online retailing, there is a third category of opportunities that is increasingly becoming available for software professionals. Developing and maintaining B2B platform for Textile Value chain. Increasingly these sites are taking advantage of social networking capability of Web-2  and more where software professionals with Fashion management degree are hired.

In a nutshell, opportunities abound for software professionals in Fashion Management Field. If you are a software engineer and have an interest in Fashion, MFM can provide you with opportunities to take your career to new highs. 

Why We Wear Cloths or Need for an MFM Course

It is extremely important both for an aspirant of MFM and a student to know the reason for this course. Marketing students know that every product is based on some need. And need is a state of physiological, social and psychological deprivation which an organism ( in this case the human beings) seek to fulfill. Then why we need fashion or clothing ? I am reproducing a few paragraphs from this site to explain:

"We have several reasons for our clothing choices. We choose clothes based on functional reasons – for comfort, protection against the elements and to support our physical activities. We also choose clothes for social reasons, such as adhering to cultural norms, meeting expectations, and fitting into groups. And we base our clothing decisions on psychological factors, such as a desire to be attractive, feel powerful, or express our creativity.

The styles we choose affect how we see ourselves and can make a strong impression on others. Some people try to appear current and trendy by choosing to wear the latest, popular fashions. Others may prefer to take a more conservative approach and wear simple, classic styles, such as polo shirts and khaki pants.

Color choice also affects how we perceive ourselves and how others perceive us. For instance, we may wear the color black because it is slimming, simple, and neutral. The color red is emotionally intense and can elevate your heart rate. Purple has a long history of being the color of royalty.

...Ultimately, we choose clothing based on a variety of reasons - marketing, functional needs, our physical, social, and psychological reasons , and our own individual taste!"

Thus fashion designers work to create such clothing which takes care of that need. Marketers take these clothes from manufacturers and sell to the customers having those needs. But needs, as you know are not the same everywhere and also they have to look for the demand ( the willingness to pay ) for that need.  This is where you need to study Marketing Management and Consumer Behaviour and where the other subjects of MFM kick in. 

Placement in MFM at NIFT Mumbai in 2011

Just read this news article here.

Among other things it quoted the following:

...This year we have received good offers from labels or brands namely, S Kumars, Future Group, Lifestyle, Kimaya, Neeta Lulla, Arvind Lifestyle Brands, Adidas, Handicrafts and Handloom Exports Corporation of India (HHEC), Central Cottage Industries Corporation of India (CCIC), and others."

"Among the 30 FM students the average salary offered is Rs3.5 lakh per annum and the highest salary offered is Rs5.5 lakh per annum. Last year the highest package offered was Rs4.2 lakh per annum," he added.

FM student Sumit Gupta has bagged the highest package this year of Rs5.5 lakh per annum through PPOs from Adidas and he will soon join them as operations manager...

I guess this piece of news will give some idea about the placement and compensation packages in MFM program of NIFT. 

20 Points to get the best out of your MFM program

I congratulate all who are joining this program. These are just some of the points that I would like to share with you. This is an enriching program with the potential to give that jump-start to your personality and career.

1. Take Notes

Carry a durable note book with you when attending classes. Take notes. When attending presentations, try to write the main points. It is always helpful to take notes of the faculty for exams. 

2. Preserve your notes and Project files. 

Needless to say, you will need them, once you are on the job. That little procedure, those instructions will come in handy, when you are on job. 

3. Learn Excel- Advanced

Excel is not just about filling up cells and adding. It is also about referring and mapping. Learn it thouroughly, learn the shortcuts and commands like vlookup and tools like pivot table. Learn basic coreldraw and photoshop, will come in handy when designing presentations and logo.

4. Take these subjects seriously

These subjects should be considered sacrosanct- Merchandising Management, Fabric Knowledge, Retail Management, Market Reseach and Pattern Appreciation. Never miss classes or assinments in any of those. 

5. Always opt for these subjects

Never miss these subjects- Intellectual Property Rights, Financial Management and Analysis, Fashion Forecasting and Statistical Analysis ( SPSS)

6. Make contacts outside the department

Go out of MFM and develop GOOD contacts with at least five persons each in Fashion Design, Textile Design, Knitwear Design, Garment Manufacturing Technology and Fashion Communications. They will be you mentors in their respective fields throughout your joblife. 

7. Take Freelance Assignments

Seek those out. Find out people with their relatives in the industry, do market research for them. 

8. Never Miss an exchange program

If possible, try and enroll in the overseas exchange program

9. Make use of your camera. 

It always helps to know how to click correct product photographs. Make use of you mobile camera or that small digital camera. 

10. Never compete with your colleagues

Your colleagues are your contemporaries in your job life. Never compete with them. Help them in moving ahead and take their help ( Plesae do not try to copy from their sheet in exams :)) .They are your best friends once you are on the job. 

11. Make use of Scholarship Scheme of NIFT

Sometimes needy students fail to make use of the scholorship scheme of NIFT. It is so good, that your whole course fee can be waived. If you think that you are in need, apply for it. 

12. Want to Hangout - Visit Malls

Go to malls, look at the latest trends not only in fashion, but in lifestyle and architecture. Discuss with your colleagues. 

13. Discuss your resume and your aspiration with your faculty/mentor

Your faculty is the best guide for you, discuss your aspirations, your background. They can create the pathways for your destination. Discuss your resume with them. Finetune it.

14. Never Miss your classes

I think I should not overemphasise this point. Normally I hear students say that they can learn on the job. I am telling you  it is very difficult without a clear theoretical background in your mind. 

15. Learn Terminology- Fabric, Garment, Fashion, Retail

Expertise is all about knowing your vocabulary. Make a diary and try to find the meanings of the words of the experts. What is Chic and Classy. The difference between Cambric and Poplin. Go ahead-ask people. 

16. Learn about Colors

Can you name this color. Is it green. What green- Moss green, Sage or Olive. Learn to name colors and patterns, and you will be amazed at your increased ability to discern shades. 

17. Make use of internet

Join Linkedin, Facebook. Type "Apparel Retail India" on Google and hit News. Do it every day and you will never miss an important news.Then type "Textile India" on Google News and make it a habit to visit the pages. 

18. Make use of your NIFT Library

Never miss the books that discuss forecasting- "Here and There", "Promostyle", "View" and "Textile Outlook International" are some of them. Learn how to use them. Read Economic Times, "Fashion and Lifestyle" and do not miss "Images Retail". Too much !! Yes, MFM is hard work and nobody will tell you that. 

19. Float your company

Mock start your company- just for Fun. Meet the government officials. You will be amazed how much you will learn in the process. The process of registration will remove the hurdles in your entrepreneural spirits. I don't recommend attending entrepreneurship programs. What I recommend is to go ahead and do it.

20. Learn Finance 

Go ahead and buy some shares of the listed retail companies- Pantaloon, Shopper's Stop, Zodiac, Mandhana- It will help you to follow them closly. Learn to read the financial statements. It is easy. Go through the balance sheets of Google orAlibaba to know the financial key features of online company. Go to SEBI website and read offer documents of the textile and retail company. You will know much about the industry.

Added on 05.6.2011


21. Buy Textbooks and Preserve Them
Just an afterthought, nevertheless very important !! Buy standard textbooks of the subjects that you read. Don't hand it over to your juniors. It includes books related to Fabric Knowledge, Garment Quality and Pattern making.You would always be looking for some of the concepts and definitions once you are on Job. 

Let me know what you think here.

Get together of MFM- NIFT Delhi 20-May-2011

I thank all the organisers and students who have managed to make this event happen. Though it was attended by a few, but it has attempted to start a series of interaction of the seniors with the students currently studying. Overall, the intent was there, the effort was commendable and I am looking forward to more such events. It was amazing to see students managing the show without the presence of faculty.

Goddess on Swimsuits- GD Discussion Topic

Please read the article here and discuss along the following lines:

1. What do you think about the appropriateness of use of religious icons on swimsuits.

2. Is the protest an interference on the right to wear ?

3. How would you respond to this challenge as a designer and as a retailer

4. What are the issues involved here

5. Are these communities overreacting, or did Burke act inappropriately by using these religious images on spandex?

Regards,

Priyank

Some Case Studies for GD of MFM- 2011

Here are some of the case studies for you to start thinking on those lines. You will get slightly easier case studies in the GD for NIFT MFM

1. Zara:

Please read the case here

You are a Rs. 300 Cr. brand selling Women Western Apparel Across 100 stores in India. How would be tackle to safeguard your market position in view of seemingly success of Zara in India.

2. Shane Warne spins own apparel brand 

 Please read the case here and discuss the following questions:
a. What is the offering to the customer and how it is different from other offerings.
b. Comment on the longevity of the brand in India.
c. How do you think other brands in India will counter this.

3. Future Ventures
Read this Article ( Slightly Financial). Would you recommend this IPO. Why ? Why not ?

4. Liftstyle Retail


Read it here
Comment on the product, price, positioning and promotion for this brand. What can be the reasons of the success of its private labels.

5. Globus

Read it here

Comment on the success of E-commerce Retailing of Apparel in India.

MFM for Commerce Students

A  reader has asked me this question: 

I have done my B.Com ( Hons)...Please tell me how can I contribute towards these sectors...

Apparel and Retail industry is all about topline and bottomline and after apparel get sold, numbers rule the market. In such a scenario, knowledge of commerce comes in handy. Right from merchandise planning to retail store distribution, budgeting forms the core of the process. It means cost of capital, payback period, and whole lot of commercial vocabulary takes over. So commerce is woven into the very fabric of apparel retail and fashion industry. I would recommend to go through the annual reports of companies like Pantaloon, Shopper's Stop, Mandhana Industries and offer documents of Gini and Johny ( All are available in their respective websites- Offer documents you can download from SEBI website). You can get a very good insight of how industry functions, what are the key players and what are the financial ratios for these industries. It would be worthwhile to go through the current market price of these retail companies. I hope this helps. 

Queries regarding GD and Interview for MFM

Here are some queries from the readers and my response :

I have just finished my graduation from D.U in psychology and am appearing for the interview with NIFT in M.F.M on the 19th of may. I am very confused as to how to really prepare for it. It would be really kind of you if you could give me some tips and tell me what kind of questions do they ask in the gd as well as the personal interview.

My Advise to you is since you are a student of psychology, you can contribute to the apparel companies in the understanding of buyer behavior, psychological pricing and understanding of brand values. So it would be worthwhile to read about “consumer behavior”, books of which are available. To prepare for the GD, just hit “Retail India” on Google and read out every thing that is discussed. Visit CP or nearby mall noting brands which are there and if you could identify brand personality in terms of its gender, conservative or not, pompous or elegant and so on… These will give you raw material to discuss in the interview. In the GD, try to initiate it by looking at the paradigms I have mentioned in this blog.

I have completed bsc in biology. and I have worked with a sportsclub as guest relation executive for 25 months. I got a call from nift for MFM. I wanted to ask what kind of questions they can ask me and how I should prepare for the interview.

I had a colleague in MFM who was from biology background and is working successfully in Landmark Dubai. Since you are working in sports club, visit some sports brands as Puma, Nike or Adidas, and find out the distinction among them. Hit the names of these brands on Google and read every thing about them. Find out about the owners of IPL and the money involved. And be prepared to face some questions about commonwealth.

I have cleared the NIFT MFM Exam, I really need to clear the group discussion and the interview , I have read your blog, so are these the type of questions which come? If yes/ can you suggest me where to prepare from ?  Because do not have a commerce background. So I want to know the correct answers for these?

Do not worry if you don’t have a commerce and textile background. Most of the students are out of these streams. Just apply some thought on how your experience and background can contribute the apparel industry. Interview is very cordial. GD is like any other GD in a management institute. The questions that are posted on the block are only indicative. There are no correct or wrong answers to these. What is required is they are answered with thoughts applied on them.

Best of Luck to All of you !!!

Overview of Luxury Watches in India

Over the time, the watches have changed their USP from timekeeping instruments to a fashion accessory.  

The brand name have become a fashion statement.

60% of the watches sold in India are in between 500-3999 Rs. 33% of the watches are in the price range of 4000-17000 Rs. 7% of the watches  are >17000 Rs. which fall under the luxury watch segment.

On the basis of brand value the watches can be classified into:

1.       Unbranded: Brands by Local Watch Manufacturers: 200-1500 Rs.

2.       Premium: Citizen, Timex, Sonata: 1500-10000 Rs.

3.       Affordable Luxury: DKNY, Esprit, Swatch, Omega: 10000-25000 Rs.

4.       Luxury: Rolex, Tag Heuer : >25000 Rs.

The overall watch market in India is estimated to be US$ 2.22 bn. It is growing at an average rate of 7-8%. Luxury watch market is at US $888 mn. The growth is 21% in 09. 70-75% of the total Luxury market is dominated by foreign brand.

View the Complete report here.

Overview of Embroidery Industry in India

Overview of the Embroidery Industry and Indian scenario

Embroidery is one of the oldest and most popular forms of surface ornamentation of fabrics and garments, and India is among the top suppliers of embroidered fabrics and garments worldwide. The sector is now getting more organized, with large players entry. Demand for garments embellished with embroideries with sequins and crystals are quite strong in the international market, as also in India. However, while embroidery is used in a whole lot of products internationally, the market is still an unexplored one in India.

"India is still a unexplored market for embroideries. Traditionally, embroidery is used for ornamentation of apparel, products such as furnishings, lingerie, have not used much of embroidery. This form of embellishment is only now getting popular in menswear. Studies have shown that embroidery consumption per person in the country is Rs 8/- per annum. This makes clear the huge potential of embroidery in the country, which is still to be tapped."

The size of the Indian embroidery market is slated to be around Rs 800-900 crore per annum. Realizing the huge potential of embroidery, some large players have entered the sector. Embroidery, till a decade ago, was largely in the unorganised sector, with very small units, typically with 2 and 4 embroidery machines. Today, organized players’ account for 60 per cent of the market. "The domestic embroidery manufacturing is almost totally unorganised, with very small units situated in various parts of the country. This is more a cottage industry. Most of the exporters in this segment do not have their own manufacturing facilities, but get the orders job worked from such small units."

According to Mr.V.Elangovan, SNQC, orders of garments with embroidery are more than that with prints in ladies and girls apparels. Embroidery is preferred over prints because of eco-friendly characteristics (print use PVC). Garments with sequins and crochet laces (of Indian looks) are well received by foreign customers and now such works are being done in sleepwear too. Sequins are in vogue since last 18 months and will be in for another 12 months.

Surat and Mumbai are the major embroidery centres in the country, and Bareilly, Muradabad, etc is known for beadwork. "It is not easy to operate in the domestic market, as competition is from these very small units. Moreover, the orders in the domestic market are for very small lots and very large varieties, making it suitable to the small units according to him, "India's strength lies in designing. Vietnam is our competitor, and we are hearing that China too is coming up, but India is an important source of embroideries for the world."

Inputs for the embroidery sector

Threads, the most important component for this sector, are easily available in the country. Demand for embroidery thread in the country is growing at a rate of around seven per cent per annum. And most of the major thread manufacturers are expanding capacities. "Threads are easily available in the country, but there is scope for improvement in quality. Realising the need for quality embroidery yarns, Indian Rayon has ventured into the manufacturing of viscose embroidery yarns. Consumption of embroidery yarns in the country stands at around 11,000 tonnes per annum, of which viscose accounts for a major share. Moreover, around 3,500 multi-head computerised embroidery machines are being installed in Surat, around 1,500 such machines are getting installed in Mumbai, and a similar number each in Tirupur, Bangalore, Coimbatore, Ludhiana. All these units will require high quality embroidery yarns. While viscose yarns are the most widely used in embroidery, cotton, polyester and metallic yarns are also used. However, a large part of the production of these threads takes place in the unorganised sector, with units have a capacity to manufacture 5 tonnes to 60 tonnes of embroidery thread per annum.

As for the machinery, the industry has to import embroidery machines from Germany, Japan, Taiwan, and China. "This is a very price sensitive market, and the industry is finding out that Chinese machines are just as good. For those who require 6-12 head embroidery systems, these machines are working well, both for domestic and export production."

The Embroidery and Fashion Laces (EFL) segment derives its demand from the readymade garment segment of the textile industry. Embroidered fabrics and laces can be classified as a niche segment of fashion accessories. Fashion accessories used by garment and other manufacturers include Crochet laces, Torchon laces, Rachel laces, fancy buttons, elastic tapes etc. It is observed to have a positive correlation to the readymade garments sector. Fashion accessories constitute 3-5% of the latter. Any improvement in the prospects of textile and garments industry thus, has a significant impact on the growth of the EFL segment.

Plain Embroidery : When the embroidery work is done only with threads, then it is called plain embroidery.

Sequin Operation : Sequin are small and flat (metallic or plastic) materials that are stitched in embroidery

(Commonly known as Sitare).

Cording or Coiling : Cording or Coiling is a type of embroidery where in threads of large thickness (from

1mm to 5mm) is used to do embroidery work.

Chenile : Chenile is a chain stitch embroidery operation where the stitching resembles to chain like

appearance. (http://www.chholderby.com/chenille-embroidery/)

Tufting:

Glossary of Stitches: http://inaminuteago.com/stitchindex.html

Source: http://www.sebi.gov.in/dp/khaitandrflof.pdf 

Some Images of the Machine Embroideries

Plain Embroidery

Tufted Embroidery

Sequins

   

S

-