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Small retailers, Big dreams- Tradyl.com, taking Made in India fashion to the world
Team Tradyl Bangalore (Karnataka) [India], October 19: Apparel is a 1.5 Trillion USD market globally, with a world apparel trade of 570 Billion USD. The top 5 apparel-exporting countries are China, EU, Bangladesh, Vietnam, and Turkey. While India is the 2nd largest manufacturer of textile products in the world, employing 45 Mn people in the [...]
Team Tradyl
Bangalore (Karnataka) [India], October 19: Apparel is a 1.5 Trillion USD market globally, with a world apparel trade of 570 Billion USD. The top 5 apparel-exporting countries are China, EU, Bangladesh, Vietnam, and Turkey. While India is the 2nd largest manufacturer of textile products in the world, employing 45 Mn people in the industry, it holds the 6th position in apparel exports, contributing merely 3%. Nearly, 99% of apparel manufacturers are unorganized SMEs who find the complexities of export daunting. The primary reasons are the lack of knowledge of export processes (like documentation, customs clearance, and forex payments), language barriers, and expensive marketing efforts required to attract overseas customers.
On the other hand, mid-small-sized apparel retailers around the world are finding it hard to keep up with the pace of fast fashion retailers. In order to survive, they must offer a wide range of unique styles, while balancing the risk of high investments in inventory. Retailers in the Western markets depend on imports to fulfill their consumer demand. For them, product sourcing has traditionally been a tedious process involving expensive trips across multiple countries. Thus far, sourcing a wider range of trendy products in lower quantities has been largely limited to smaller manufacturers and online portals from China.
