With the industry becoming very competitive and ‘no guaranteed’ formula for success, exporters are looking in multiple directions to sustain growth and profitability. Even companies which have been in operation for decades are finding it difficult to survive. But, on the other hand, there are companies that have not only kept pace with the changes, but also reaped the benefits of their upfront approach. Vijay Design Inspirations , a Greater Noida-based home furnishings manufacturing company is one such exporter that has witnessed 100 per cent growth in recent years, even as others struggle. Team Apparel Online met the dynamic Vivek Vikas, MD of the company, to find out the secret of his success.
A short stint of six years in the home furnishing industry was enough experience for Vivek to set up his own unit in 1987. The company, majorly focusing on Europe, has seen superlative growth in recent years and is now in the process of consolidating growth by adding new markets, enhancing capacity, diversifying into new products, coming up with its own international brand and also enhancing its focus on product development through extensive market research.
Starting business almost three decades ago was not so easy and that too with little hands-on experience, but Vivek was prepared with proper planning and confidence. The first thing he did was to study export and import management. Recalling that period, he says, “I was very clear about my future goals even before starting my first job. So, from the very beginning, I started gathering experience in all the various segments of export and import business, be it manufacturing, merchandising or documentation. When I felt I had enough contacts and relations, I started my own company.”
But how difficult was it to get buyers? “Not much, as during my working of six years, I have maintained amicable relations with all the clients who gradually provide me the opportunity to offer them the products which my company was manufacturing,” shares Vivek. The company further started participating in sourcing fairs like IHGF and only displayed its unique product range which a buyer could not find anywhere else in the market. “Product development was my focus from the very beginning. To offer this kind of collection from day one, we used to do extensive market research, travelling across the globe to gain knowledge about the upcoming trends and different sort of market demands,” says Vivek. This strategy worked well for Vijay Design Inspirations, helping them to keep moving forward, and today it has capacity of more than 6,00,000 pieces per year.
Currently, the company is majorly dealing in curtains, table linen, cushion covers, throws and plaids, and accessories in knit-based fabric. Going forward, it is diversifying its product range to introduce upholstery furniture to cater to its existing clients who are already into furniture. Its focus will be on incomparable options in the same themes and moods as per their soft furnishings choices. Additionally, the organization is also increasing its products range by adding chunky knitted utility bags for laptops, I-pads and other electronics items. “We develop products according to the evolving need; I always feel that if I need something, definitely my buyer will also need that product,” states Vivek. To be more creative and innovative, the company has also started blending different yarns and techniques in order to produce creative items. “India is the home of different textile clusters and we are working with many of them quite closely in order to develop something more ingeniously. We are trying to produce some unique blends like silk with wool, yarns with bamboo. These kinds of combinations/products are not available to consumers anywhere else in the market,” he claims.
Vivek who is continuously exploring more and more areas of intervention for further growth opportunities, is now in the process to tap international markets directly with his own brand. “We are planning to introduce a new brand ‘Dhaarna’ in Europe for the home furnishings products, garments, and furniture sections. With the launch of this new brand, it will be more viable for us to market our products directly to our consumers at much more affordable prices than anywhere in the country,” shares Vivek. Online selling and wholesale retailing is also in the pipeline.
The company has witnessed a surge of 100 per cent in its turnover, despite the fact that it exports 80 per cent of its total production into the European market, which is not a very strong market today, thanks to product development which is one of the main reasons for this growth. “If you make innovative designer products as per the buyers’ needs, market’s downfall will hardly affect you. The reason is if you have unique and designer products, buyer will definitely come to you, so it entirely depends upon your product, in current market situation, Europe is not selling in bulk but it’s selling, now what they need is good products,” concludes Vivek optimistically.
Apart from Europe, the company also has its footprints in China, US, Korea and Australia.
Post a Comment