Fashion retailing is gun-go to leverage the technology experience of 3D printing, virtual shopping experience and the usage of social platforms, but pricing remains a deterrent, was the conclusion of the panellists on the 2nd day of the India Fashion Forum.
“Technology is the buzz word in fashion business today. We are constantly in search of new ways and different channels to reach our customers base. The quality of the shopping experience must be enhanced through the use of superior technology,” said Gaurav Mahajan, President-Group Apparel, Raymond said.
Speaking on the option of omni-channel for retailing, Bonnie Brooks, Vice Chairman, Hudson’s Bay Company said, “It’s a gifted technology which one has to adopt, adapt and sort it out by finding ways to use the onmi-channel platform.”
Commenting on the fashion element in apparels, Harminder Sahni, Founder & MD, Wazir Advisors, said, “Like most things in India, fashion industry too is chasing elusive potential which is always difficult to time.”
Stating that every element of value chain is important be it sourcing, profitability, pricing, discounting, Sandeep Chugh, Commercial Director, Benetton, said “India being dynamic market, right channel strategy with clarity about the brand is important to attain maximum reach for your brand.”
“The pricing for accessible luxury brand in India is comparatively lower than globally. However, we are making some profits as we believe in doing beyond the existing strategy, innovation and development,” said, Rajesh Jain, CEO and Director, Lacoste.
About India Fashion Forum:
The 15th edition of India Fashion Forum 2015 (IFF) is scheduled for 18th – 20th March, 2014 at the Bombay Exhibition Centre, Mumbai. IFF has been born out of pure passion to boost fashion consumption in India by catalysing fashion brands to think RETAIL, thing LONG TERM and think FASHION FORWARD. It is India’s biggest fashion extravaganza (Workshops + Conference + Exhibition + Fashion Shows + Trends Theatre + Awards), by bringing together the biggest and the most respected names from the industry, not only from India but from all important fashion markets across the world, to share their invaluable knowledge and provide inspiration to the fashion fraternity. This magnum opus of the fashion industry will also celebrate excellence and recognise outstanding achievements with the IMAGES Fashion Awards – one of the most glamorous fashion awards extravaganzas in the world.