VIP Clothing is a leading clothing company with a rich history dating back to its founding in 1971. Over the years, we have become a well-established player in the fashion industry, offering a diverse range of products under various brands, including VIP, Frenchie, Feelings, Leader, and Brat. Our product portfolio encompasses a wide array of clothing items, including Briefs, Trunks, Vests, and leisurewear, catering to the varied preferences of our customers. Kapil Pathare, Director, VIP Clothing, discussed the existing challenges confronting the textile industry and provided suggestions on how the industry can enhance its export initiatives during a conversation with Divya Shetty.
What was the company’s performance in the calendar year 2023?
In 2023, VIP Clothing witnessed notable growth despite global uncertainties. We had revenue of around Rs 180 crore in 2022 which crossed Rs 200 crore in 2023 and by the end of the financial year 2023-24 we are affirmative of further growth. Our focus on innovation, quality, and understanding consumer trends has been pivotal. We expanded our product lines like leisurewear for men and women, entered new markets, and improved operational efficiency. Our commitment to sustainability also resonated well with consumers, contributing to our success.
Amid the global uncertainty, how can we boast our exports?
To boost exports in the face of global uncertainty, VIP Clothing is exploring strategic partnerships and collaborations in order to expand its reach to other nations. We are already present in the Middle East regions and additionally, we are enhancing our supply chain resilience and agility to adapt quickly to changing market conditions.
What are the challenges before the Indian T&A manufacturers as they aim to expand their exports globally?
Indian Textile and Apparel (T&A) manufacturers face challenges such as rising production costs, compliance with international standards, and competition from other low-cost manufacturing players. To overcome these challenges, a focus on skill development, technology adoption, and sustainable practices is crucial. Speaking about this we are looking at tackling such challenges one a time.
What are the policy / schemes the government can incorporate to encourage the industry?
We recommend that the government introduces policies and schemes to support T&A manufacturers. This could include financial incentives for adopting sustainable practices, easing export procedures, providing infrastructure support, and facilitating skill development programs. Such measures will enhance the competitiveness of the Indian textile industry on the global stage.
What are your suggestions in achieving the $ 100 billion exports target?
As far as our company is concerned an export target of $ 100 billion is something we haven’t had in mind yet but surely in the long run it will a part of our thought, currently we would like to take some slow strides and grow gradually. We are a home grown company and focus majorly you can say 90% on the domestic market. However coming back to the question, to achieve the $100 billion exports target, collaboration between the industry and the government is essential. We need to invest in research and development, adopt advanced technologies, strengthening our supply chain, and focus on creating value-added products. Strengthening trade relations, negotiating favourable trade agreements, and addressing infrastructure bottlenecks will also contribute to reaching this ambitious goal.