Innovation is key to a bright festive season
Sep 23 2013
There is constant news moving around that the US and Europe is recovering and the FII will slowly exit from India, eventually making people lose their wealth and subsequently spend cautiously in future. Another theory is that property market, especially in housing, is seeing a decline, blocking the investments of investors and the actual demand of end-consumer for property is way below the supply, so the rotation of funds is again hampered. Here I would like to point that the enormous growth we had in 2000-11 is always not possible, but it made people invest blindly so much so that they took loans to invest. Thirdly, as a designer I am seeing the fashion industry is going through a little lean patch, which is temporary for sure. The overall market is growing, but the cut throat competition with innumerable exhibitions, sales promotions; division of markets making life tougher so much so that many have started using inferior quality fabrics and materials to survive and put MRP which attracts people. Though I can’t think of doing it but one sees the young generation also doesn’t care much about the quality. Their attitude to “Pick, wear and throw” or “Minimum value for maximum show off”, is compelling some to choose that path.
Lastly, one of the most important factors, which I feel exists, is the lack of innovation. It is one of the driving factors for further slowdown in this tough scenario. I still remember a client, after going through exhibitions, stores and malls in frustration saying, “They all look the same”, to which it took me a day to accept and agree. We need to improvise and innovate further not only to make the market better in India, but internationally also. No denying there are many who are doing it and earning well also, but as a country, we should think of not following the bus but making our own road. Iam optimistic that this scenario will change, however, the lessons are to be learnt from the mistakes by not one, but everyone.
(The writer is a Delhi-based fashion designer)