World slow down is hampering India economy growth
WFB Bureau: Kindly brief about your company.
Sanjay: We are Mumbai based factory that deals in ladies’ footwear, bags and wallets. We mainly cater to European market, and even some of the US buyers as well.
WFB Bureau: Which brands are your clientele?
Sanjay: Our clientele base includes big brands like Calvin Klein, Laurie and Serutee. Since Europe is a major market for us, 60% share of our products are exported to Italy, Paris, Spain etc. and the rest is for USA and other countries.
WFB Bureau: Where are the manufacturing facilities located?
Sanjay: We have footwear manufacturing facility in Mumbai with an annual production capacity of 3,00,000 pairs. The bags and wallet are made in factory located in Kolkata.
WFB Bureau: In your opinion, how is Indian leather industry performing?
Sanjay: The leather market in India is growing but this year has been a little slow compared to last year. Reasons behind it is the slowdown of the world economy. Apart from it is the taxation system in India; the recent changes in tax have been reflected in the market but it is temporary and the market will pick up real soon.
WFB Bureau: Do you think that India can benefit from the ongoing US-China trade war? Is the company planning to take on more orders from US?
Sanjay: Yes, India will benefit but the trend has already started from past 2-3 years because of soaring labour wages in china.
India has an advantage of catering to small quantities or sampling orders along with the low labour cost. The trade war has given more thrust to it.
WFB Bureau: How has been the current financial year for the company?
Sanjay:This year was not as expected but we hope to grow next year. We are also focusing on our inhouse brand, Eske. It brings an amalgamation of international designs with Indian touch at affordable prices. The brand has online presence in association with Myntra, Jabong, Amazon and also has 10 offline stores pan India. We are also opening a new store in Goa.