SRI LANKA: Brandix pushing boundaries in quest for growth
A strategy of aggressively pushing for higher market share in selected product categories enabled Sri Lanka's Brandix Group to achieve healthy growth in the first half of 2009, the company has revealed.
Speaking to supply chain partners at a recent Vendor Summit in Colombo, the apparel exporter said that by directing more business to preferred suppliers it had managed to offset contracting inventories, lower average unit costs, and a US$17bn drop in global retail sales last year.
"In our quest to push beyond the limits we will have to challenge every paradigm that exists today," explained Brandix CEO Ashroff Omar.
He believes continued growth will be possible by re-engineering vendor cost structures, focusing on 'trend-right fashion' and reducing concept-to-store lead times.
Also key are flexibility on speed and pricing, commitment to on-time delivery and quality, and a focus on sustainability initiatives, he said.
Crashing prices are one of the biggest challenges facing the industry right now, noted Brandix director Udena Wickremesooriya.
He pointed out that prices across all categories from men's underwear to lounge wear and woven pants to bras, lounge have fallen by 10% to 27% over the past year or two.
"Buyers continue to pressure manufacturers to reduce prices," Mr Wickremesooriya said.
Brandix, which specialises in casual bottoms, intimate and active wear, textiles and knitted fabrics, includes Gap, Marks & Spencer, Victoria's Secret, Next and Lands' End among its customers.
More than 150 supply chain partners and 30 foreign visitors participated at the Brandix Vendor Summit, themed 'Beyond the Limits'.
Help test our new apparel sourcing tool.
Following hot on the heels of American and European fashion brands, it is now the turn of the Chinese to look at growth in India....
The Sri Lankan government has failed to understand the serious repercussions of its decision not to accept EU conditions that would have extended the GSP+ duty-free trade scheme for another six months...
Western brands and retailers whose orders have been caught up in last week's violent protests by garment workers in Bangladesh will no doubt take some comfort from news that hundreds of garment factor...
UK retailer Marks & Spencer is in a more advantageous position than other retailers in light of the emergency budget, according to analysts. ...
A strong performance in general merchandise - which includes clothing and footwear - has helped Marks & Spencer to a 3.6% rise in like-for-like UK sales, the retailer said today (7 July)....
US clothing retailer Gap Inc has revealed details of its long-awaited entry into China, with plans to open four Gap brand stores and an online shopping site later this year....
- China leads US apparel sources with falling prices
- Hard hit Turkish industry is not knocked out
- Vietnam grows share of US apparel imports in 2016
- "Power of the many" drives change at Otto Group
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Kohl's, L Brands
- Bangladesh crackdown has cost garment sector $100m
- Adidas and Burberry recognised for sustainability
- Macy's will "do the right thing", says Lundgren
- VF Corp sees Q4 and FY earnings tumble
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022