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

   

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