V-Mart Re­tail ven­tur­ing into nom­i­na­tion; will launch its own brand

Apparel Online - - Industry Wire -

V-Mart, a well-known re­tail gi­ant in Delhi, will soon nom­i­nate fab­ric sup­pli­ers. It is also com­ing up with its own fash­ion brand cover­ing seg­ments for men, women and kids. With an ex­pected turnover of

Rs. 1400 crore in the cur­rent fis­cal, the com­pany is ma­jorly into ap­par­els as its fash­ion seg­ment con­trib­utes to nearly 94 per cent of its to­tal rev­enue. A steady growth of 30 to 34 per cent in the cur­rent fi­nan­cial year has mo­ti­vated the com­pany to de­velop its own prod­uct de­vel­op­ment team. Ra­jan Sharma, Pres­i­dent – Pro­cure­ment and Sourc­ing of the com­pany in­formed Ap­parel On­line, “Re­cently I met many good fab­ric mills and we are very se­ri­ous about nom­i­nat­ing these fab­ric mills to our gar­ment sup­pli­ers. They are the need of the hour be­cause the way we are grow­ing, we re­ally re­quire them. We will align our gar­ment sup­pli­ers to these fab­ric mills so that our cus­tomers find com­plete uni­for­mity in fab­rics, wash and gar­ment.” He fur­ther added that this nom­i­na­tion will sup­port V-Mart to save its cost as fab­ric con­sti­tutes al­most 50 per cent cost of the gar­ment and nom­i­na­tion di­rectly with the mills will sup­port the com­pany in terms of pric­ing also. A con­fi­dent Ra­jan em­pha­sized, “Our bot­tom line will im­prove by min­i­mum 3 to 4 per cent through this nom­i­na­tion which is quite big.” This process which is as of now in the ini­tial stage is ex­pected to take full form by the next sea­son. The nom­i­na­tion will start with denim and bot­tom seg­ment but will cover the en­tire range later.

Hav­ing cur­rently 156 stores across the coun­try mainly in Tier-2 and Tier3 cities, V-Mart at present sells more than 1.5 to 2 mil­lion jeans per year cover­ing men, women and kids and about 3 mil­lion pieces of gar­ments monthly cover­ing all cat­e­gories. The com­pany is work­ing with nearly 500 gar­ment man­u­fac­tur­ers/sup­pli­ers but af­ter nom­i­na­tion, it will need to work with less gar­ment man­u­fac­tur­ers and

Ra­jan, with an over­all ex­pe­ri­ence of 23 years, man­ages a team of nearly 40 buy­ers, and is re­spon­si­ble for the en­tire ap­parel and non-ap­parel (home mart, home fur­nish­ing, sta­tionery and toys & games) sourc­ing in the com­pany.

order size will nat­u­rally in­crease. It will also help to re­duce cost to the com­pany as well as its sup­pli­ers. Talk­ing about the brand­ing ini­tia­tive, Ra­jan in­formed, “When we are sourc­ing gar­ments in the open mar­ket, there are more chances to find sim­i­lar gar­ments be­ing sold by our com­peti­tors or other play­ers in the mar­ket. We will , there­fore, have our own de­sign­ing team so that our cre­ativ­ity reaches our cus­tomers in the form of ex­clu­siv­ity.” V-Mart is even plan­ning to set up a cou­ple of in-house brands for Spring/Sum­mer 2018-19.

Ra­jan Sharma, Pres­i­dent – Pro­cure­ment and Sourc­ing, V- Mart Re­tail

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