“It's Time to Explore Untapped Markets”

 

 

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TDB: Apparel exports looks like an unattractive business because of the severe competition in today’s world. What attracted you to the business?

Slowly, the idea of starting a manufacturing business and selling apparel struck me. I was then 20 years when I combined all the forces that were willing to back me to take this new step. And with my bachelor degree in business administration in hand, I kick started Roman Island in 2011.

TDB: Roman Island has 85 exclusive stores across the country and has recently started selling through online platforms. What does your experience say about the market environment?

CRA: Yes, we cater to customers through both physical and online retail stores. Well, when we talk about the market size of the apparel industry in India, the behaviour of consumers has drastically changed over the last few years. The consumers’ needs and demands have also grown, and now we are in an era where people like to be up-to-the-date with fashion.

We all know that the demand for Roti, Kapda and Makaan (bread, clothes and housing) will never cease. The demand has, in fact, been increasing with the change in taste, backed by growing purchasing power.

Speaking of both physical and online retail stores, they offer different shopping experiences. For instance, a physical store offers prospective customers the opportunity to touch and feel the product, or even try the fittings of the product immediately.

However, in online retailing, it is the photographs of the garments that can either attract or repel a customer, which is both an advantage and a disadvantage compared to a physical store. And this difference is reflected in the sales number. For us, only about 12-15% of our revenue comes from online sales.

TDB: What kind of growth do you expect in the next five years?