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 !!!