Indian Apparel Industry - Corporate Catalyst India Pvt Ltd.
Transcripción
Indian Apparel Industry - Corporate Catalyst India Pvt Ltd.
Indian Apparel Industry by Sateesh Kulkarni Director Corporate Catalyst India Pvt Ltd Published in Voice News magazine of the India - Mexico Business Chamber (June, 2012) n a i Ind l e r a App ry t s u Ind Sate e sh K ulkarni D ire cto r Cor por ate Cata lyst I nd ia Pvt Ltd www. cci. in Overview The India textile industry is one of the leading textile industries in the world. From being predominantly unorganized a few years back, it has now successfully become one of the largest in the world. The industry plays a major role in the economy of the country. India earns about 27% of its total foreign exchange through textile exports and also contributes nearly 14% of the total industrial production of the country. It also contributes around 3% to the GDP of the country. India textile industry is also the largest in the country in terms of employment, both directly and for the other ancillary sectors and currently employs more than 35 million people. Apparel manufacturing is the less capital intensive section of the textile value chain and is therefore characterized by low entry barriers. At the same time, it is highly labour intensive. A p p a re l s Market Size T h e I n d i a n a p p a re l i n d u s t r y i s e s t i m a t e d t o b e w o r t h R s . 3 , 2 7 0 b i l l i o n i n 2 0 1 1-1 2 a n d i s e x p e c t e d to grow at a compounded annual growth rate of 8.7 per cent till 2016. The growth would primarily be driven by the surge in demand for readymade apparels in semi-urban areas, rising income levels and youth population and increasing preference for branded apparels. Year / Año Value / Valor 20 0 6 1 2 ,4 3 5 20 0 7 1 4,4 1 8 20 0 8 1 5 ,7 6 0 20 0 9 1 7,4 1 4 20 1 0 19,242 20 1 1 2 1, 2 6 3 ( U S D M i l l i o n / M i l l o n e s d e d ó l a re s ) 1 Exports The following table highlights the growing importance of apparels as an export product: (1) No. 4 June / Junio, 2012 The growth in exports can be attributed to shifting of the apparel manufacturing base from the developed countries like the US and the EU to the low cost countries like China, Vietnam, India, Bangladesh and many others. Multi Fibre Agre ement phase-out at the end of 2004 also helped India to increase its exports. Market Structure Indian apparel market is segmented in thre e different ways: • Segmentation by User category • Segmentation by Use • Segmentation by Price www.imbc.org.mx 3 In d u s t ria d e l Ve stido e en la India D e s c r i pc ión La industria textil de la India es una de las industrias líderes del mundo. De ser una industria predominantemente desorganizada hace algunos años, ahora se ha convertido en una de las más grandes del mundo. Esta industria tiene un papel fundamental en la economía de la India, contribuyendo con el 3% del PIB, casi el 14% de la producción industrial del país y con aproximadamente un 27% del total de las exportaciones totales del país. Esta industria también es una de las más grandes del país en términos de empleos generados, tanto directos como indirectos, empleando a más de 35 millones de personas. La m a n u f a c t u r a d e p re n d a s d e v e s t i r, e s l a q u e re q u i e re m e n o r i n v e r s i ó n e n a c t i v o s o capital en la cadena de valor de los textiles, por lo que se caracteriza por tener pocas barreras de entrada. Al mismo tiempo, es la que demanda mayor mano de obra.. I n d u s t r i a d e l Ve s t i d o Ta ma ño d el m e rc a d o La industria del vestido de la India tiene un valor de aproximadamente 3.2 mil millones de Rupias Indias en 2011 - 2012 y se espera que tenga un crecimiento anual compuesto a una tasa de 8.7 % hasta el año 2016. Esta tasa de crecimiento está principalmente sustentado por el aumento en la demanda de prendas de vestir en zonas semi urbanas, el aumento en los ingresos y en la creciente preferencia por prendas de vestir de marca en la población juvenil. Expor ta ci ones La siguiente tabla muestra la importancia de las exportaciones de prendas de vestir de la India: ( Ta b l a 1, p á g i n a 2) El crecimiento en las exportaciones se puede atribuir al cambio de las instalaciones de manufactura de prendas de vestir de los países desarrollados como Estados Unidos y la Unión Europea a los países de bajo costo de producción como China, Vietnam, India, Bangladesh, entre otros. La eliminación del Acuerdo de Multi-Fibras a finales del 2004, también ayudó al incremento en las exportaciones de la India. E s t r u c t u r a d e Me rc ado El merc ad o d e l v es t i d o e s t á s e g me n t ad o de t re s man er as: • Segme nt a c i ó n p or c a t e g o r í a d e u s u ar io • Segme nt a c i ó n p or us o • Segme nt a c i ó n p or p re cio 4 S ate esh Ku lk ar n i Di rec tor Cor por ate Catalyst In di a Pvt Ltd w w w.c c i .i n Segmentation by User category The domestic apparel industry has 3 segments, viz Men’s wear, Women’s wear and Kid’s wear. Menswear accounts for 48% of the total market by value. (2) Indian Apparel Market in Value Terms / Va l or d e l M e rc a do de l a I ndustri a del Ves t ido en la India 12% K i d s Wa re / Ropa de Niños 2 48% M e n ’s W a r e / R o p a d e H o m b re 40% W o m a n ’s W a r e / R o p a d e M uj e r 1 2 3 Men’s wear market in India fastest growing apparel segment The entire textile and apparel industry (2011-12 estimates), including domestic and exports, is pegged at Rs 3,270 billion and is expected to grow by 11% to Rs 10,320 billion by 2020. Currently menswear is the major segment of the market (Rs 720 billion) and is growing at a compounded annual growth r a t e ( C A G R ) o f 9 % . G u c c i, H u g o B o s s , S a l v a t o re Fe r r a g a m o , A r m a n i, Ve r s a c e , B r i o n i, E r m e n e g i l d o Z e g n a , C a n a l i, C o r n e l i a n i, A l f re d D u n h i l l, C a d i n i, a re a l l i n I n d i a n o w. Women’s wear Women’s formal wear and ethnic wear markets are still ruled by unorganized players. With more women expected to enter corporate world, both these segments are go od opportunities because of the market size. Kids wear Kids wear is a major category with few established players – viz., Lilliput, Gini and Jony, Catmoss, Benetton, Disney, Barbie etc. It still holds a large opportunity which is clearly untapped. The Indian kids wear retail market is expected to touch Rs 580 billion by 2014. At present, the size of kids wear market in India is estimated at about Rs 380 billion. A p p a re l S e g m e n t a t i o n b y U s e A rough estimate of the segmentation by use is depicted in the pie chart below (3). Casual apparel dominates and account for more than 50% by value. Apparel Segmentation by Use / Segme nt ación por Us o 3 5% 15% Formal / Formal Et h n i c / Étnico 53% 1 2 3 27% Sports / Deportiva Casual / Casual 4 No. 4 June / Junio, 2012 www.imbc.org.mx 5 Segmentación por categoría de usuario L a i nd us t ri a d o m és t ica e n l a In dia de l s e ct o r de l vesti do ti en e tres seg men tos: R opa par a Hombre que c o rre s p o nd e al 4 8 % de l me rcad o , R o p a p ara Mujer y R opa par a Ni ñ os. (Tabla 2 , pág i n a 5 ) L a rop a p a ra H o mb re e s e l s e g me n t o de may o r c rec i mi en to en la In di a L a i n d u s t r i a c o m p l e t a t e x t i l y d e l v e s t i d o ( 2 0 1 1-2 0 1 2 ) , i n c l u y e n d o e l m e rc a d o d o m é s t i c o y l a s e x p ort a c i o ne s es t á v al u ado e n 3, 27 0 mil mil l o n es de R u pi as c on u n c rec i mi en to esper ado del 11% pa ra e l 2 0 2 0, e s de cir, 10, 320 mil m il l o n e s de R u p i as In di as. Ac tu almen te el seg men to de ropa par a c ab a llero e s e l m ás g r an d e co n u n v al o r d e 7 20 mi l mi llon es de r u pi as i n di as y c rec e a u n a tasa c o m p ues t a d e l 9 % . G u cci, H u g o B o s s , S al v at o re Fer r ag amo, Ar man i, Ver sac e, B r i on i, Er men eg i ldo Zena , Ca na li, Co rn e l ian i, A l fre d D u n h il l, C ad in i y a están en la In di a. Ro p a p a ra D a m a E l m e rc a d o d e ro p a p a r a d a m a t a n t o f o r m a l c o m o t r a d i c i o n a l e s t á re g i d o p o r j u g a d o re s des org a ni z a d o s . C o n m ás m uje re s e n t r an do al m u n do c or por ati vo, ambos seg men tos son bu en as opo rt uni d a d es d e b id o al t am año d e m e rcado . Ro p a p a ra ni ñ o s El m erc a d o d e rop a par a n iño s t ie n e s o l o p o co s ju g adores establec i dos, por ejemplo L i lli pu t, Gi n i a nd Jony, Ca t m o s s , B e n e t t o n , D is n e y, B ar b ie , e t c. R epresen ta todaví a u n a g r an opor tu n i dad q u e no h a s i d o e x p lotad a. E l m e rcado d e ro pa par a n i ñ os en el merc ado al men u deo se esti ma qu e lleg ue a l0 s 580 mil m il l o n e s de r u p ias in dias par a el 2 014. Ac tu almen te, el tamañ o de merc ado de la rop a p a ra niño s e n l a In d ia s e e s t ima e n aproxi madamen te 380 mi l mi llon es de r u pi as i n di as. Segmentación por uso U n es t i m a d o a p ro ximado d e l a s e g m e n t ació n p or u se se mu estr a en la g r áf i c a de pi e abajo. L a rop a c a s ua l d om in a e s t e s e g m e n t o co n p o r l o men os el 5 0% del v alor del merc ado. (Tabla 3 pá g i na 5 S e g m e n t a c i ó n p o r p re c i o • M erc a d o d e b a j o p re cio: po r v o l u m e n , l o s p ro du c tos g en er almen te n o ti en en marc a y lo domi n an mu c h os f a b ri c a nt e s , g e n e r al me n t e p ro du ct o re s loc ales o reg i on ales. • M erc a d o i nt e rm e d io: p ro du ct o s d e cal id ad . M an u f ac tu r a medi an a y g r an de. • Mercado de alto precio: categorías de productos premium y super premium. Dominado por compañías multinacionales y productores indios. (Ta b la 4, p á gi na 7) Colaboraciones Externas Un mercado rentable y el crecimiento de la industria del vestido de la India, han atraído a muchos jugadores internacionales. Dos consideraciones especiales han atraído a los jugadores extranjeros. Pr im ero , el t a m a ñ o de me rcad o q u e e s u n o de los más g r an des del mu n do, c on u n a c rec i en te pre f e renc i a p or e l s e g m e n t o p re m iu m y s u pe r premi u m. Adi c i on almen te, los ju g adores extr an jeros usan a la I nd i a c o m o u n a p l at afo r ma d e l an z am i en to par a maxi mi zar su s expor tac i on es a otros paí s e s . ( Ta b la s 5 y 6, pág in as 7 y 8 re s pe ct iv am en te) R eto s y Opor tunidades U n es t ud i o rec i en t e s o b re l as n e ce s id ad e s t e cn ológ i c as par a las pren das de v esti r revela qu e en e l s e c t o r d e e x p o r t a c i ó n s ó l o e l 2 1 % d e l o s p ro d u c t o re s u s a n t e c n o l o g í a m o d e r n a s e g ú n l o s e s t á n d a re s i n dio s y q u e e l 7 0 % s e cl as ifica en tre tec n olog í a moder n a y “pr i mi ti v a”. Ni n g u n a c om p a ñ í a p ued e d e cir q u e t ie n e t e cn o l o g í a d e c lase mu n di al. En el mercado de exportación de prendas de vestir con gran margen de ganancia, la India enfrenta una c o m p et enc i a d u r a d e Vie t n am, In d o n e s ia y B an g ladesh. Tan to en los merc ados de Estados Unidos y la Unión Europea, que representan más del 80% de las exportaciones de textiles y prendas de vestir de la India, el crecimiento de la India proviene de suministros textiles, que incluyen productos interm ed i os c o m o h il ado s y t e jid o s . E n e l s e g m e n to de ropa de alto valor, el c rec i mi en to de la In di a está p o r d e b a j o de s u s co m p e t id o re s as iát ico s . En el merc ado de Estados Un i dos, la In di a oc u pa el cua rt o luga r c o n e xp o r t acio n e s d e 5 0 3 m il mi llon es de r u pi as i n di as. S obre Cor por ate Cata l yst In d i a U na empresa espec i a l i sta e n e l d e sa r ro l l o , i m p l e m e n t ac i ó n y el m on i t oreo d e s us es t rat eg i a s d e n eg oc i o en la India. Conceptualizamos, implementamos y gestionamos las estrategias de entrada la India para empresas d e todas partes del mundo. Nuestros servicios incluyen asesoría de negocios, fusiones y adquisiciones, búsqueda de socios, estudios d e m e rc a d o , i m p u e sto s y e l c u m p l i m i en t o d e reg ul a c i on es (J SO X , I F R S, et c ) . 6 A p p a re l s e g m e n t a t i o n b y p r i c e • Low-end market: volume driven, products are mostly unbranded and dominated by large number of manufacturers. Mostly regional or even local players. • Mid-range market: quality products. Manufacturers large and medium. • High-end market: premium and super premium product categories. Dominated by MNC and major Indian manufacturers. Major Players in the Indian Industry / P ri nc i pa l es J uga dores en la Indus t ria Text il y del Ves t ido de la India Company / Compañia 4 Main Products / Productos Principales Welspun India Ltd Home textiles, bathrobes, terry towels / Textiles para el hogar, b atas de b año, to allas. Vardhman Group Yarn, fabric, sewing threads, acrylic fibre / Textiles para el hogar, b atas de b año, t o allas. Alok Industries Ltd Home textiles, woven and knitted apparel fabric, garments and polyester yarn / H i lado s, t e j i do s, h i lo s de cos er, fib ra acrílica. Raymond Ltd Worsted suiting, tailored clothing, denim, shirting, wo ollen outerwear / Ropa a la me di da, de me z cli lla, ca mis as , y prendas de lana. Arvind Mills Ltd Spinning, weaving, processing and garment production / Hilado, tejido, proces ami e n t o y pro du cci ó n de prendas de ves tir. Bombay Dyeing & Manufacturing Company Ltd Bed linen, towels, furnishings, fabric for suits, shirts, dresses and saris in cotton and polyester blends / Ro pa de cama, toallas , textiles para mueb les , telas para trajes , camis as , ves tidos y sar i s de alg o dó n y mezclas de poliés ter. Mafatlal Industries Ltd Shirting, poplins, bottomwear fabrics, voiles / C amis as , popelinas , ropa interior. Aditya Birla Nuvo, (Madura Garments, Jayashre e Textiles and Indian Rayon) Madura Garments —lifestyle market (Louis Philippe, Van Heusen, Allen Solly, The Collective). Jayashre e Textiles —domestic linen and worsted yarn. Indian Rayon —viscose filament yarn. ITC Lifestyle Lifestyle market / Productos de es tilo de vida. Reliance Industries Ltd Fabric, formal menswear / Ropa formal para homb res . F o re i g n c o l l a b o r a t i o n s A lucrative market and growth of Indian apparel industry has attracted many international players. Foreign players have be en attracted to Indian market for two major considerations. First, the market size that is one the l a rg e s t i n t h e w o r l d a n d g ro w i n g p re f e re n c e f o r p re m i u m a n d s u p e r p re m i u m s e g m e n t . S e c o n d l y, f o re i g n p l a y e r s a re n o w u s i n g I n d i a a s a m a j o r l a u n c h i n g p a d f o r m a x i m i z i n g t h i rd c o u n t r y e x p o r t s . Major Foreign Collaborations in Indian Apparel Industry / Aporta c i ones Extra nj eras a la Indus t ria del Ves t ido de la India 5 Name of Indian Company / Nombre d e la e m p res a in dia Foreign Manufacturer / E m p re s a e xt r an je r a Nature & Area of Collaboration / Natu r aleza & area de c olabor ac i ó n Trent Lt d , Ta t a G ro up Industri a de Di seno Textil S o ci e da d Ano ni ma (Indi tex SA), Spain J V t o p rom ot e Z a ra St ores i n I n d i a / A l i a n z a es t ra t é g i c a p a ra p rom over t i en d as Z ara e n la Indi a Ar v i nd M i lls Lt d VF C o r p o r a ti o n , U SA J V / A l i an z a Es t rat é g i c a Ar v i nd M i lls Lt d C F ITA L IA , Ita l y Tec h n i c al Col l aborat i on / Col a bora c i ó n t é cni ca Ra ym o nd I nd i a Lt d G r u p p o Za m b a i ti, Ita l y J V / A l i an z a Es t rat é g i c a Ra ym o nd I nd i a Lt d L a n i f i c i o Fe d o r a , Ital y J V / A l i an z a Es t rat é g i c a Ra ym o nd I nd i a Lt d U C O N V, Be l g i u m J V / A l i an z a Es t rat é g i c a Ma dura G a rm e nt s Ltd , Group C o m p a ny of A d it y a B i rla N o v o Lt d E sp i r i t G l o b a l L td , U SA J V / A l i an z a Es t rat é g i c a DCM B ene t t on I nd i a L t d Benetton International, The Netherlands J V for d evel op m en t of k n i t s / A l i a n z a Es t ra t é g i c a p a ra pre nda s de punt o F ut ure G ro up L e e C o o p e r L td , UK J V / A l i an z a Es t rat é g i c a F a b i nd i a E a st C l o thi n g , U K JV to include womens wear (retailing s kirts , trous ers , dres se s an d t o ps) / Alianza E s tratégica para incluir ropa para dama: b lus as , pantalo n e s, v e st i do s y t o ps) No. 4 June / Junio, 2012 www.imbc.org.mx 7 6 Recent International Entries / Entra da s Int ernacionales R ecient es International Brands / M arcas In t e r n ac i on ales Indian Partner / S oc i o I nd io D ie s e l R eli an c e H o l l an d an d S h e r r y Di g jam G iorgi o A rm a ni, D & G , S al v at o re Fe r r ag am o , B o g g i, P i qu ardo, Empor i o Ar man i DL F In t e r n acio n al e S KNL Zar a an d To ps h o p Tren t (Tata g rou p) C ar t e r ’s Plan et R etai l Prospects and challenges A recent national study on technological up-gradation ne eds of readymade garments reveals that in the export sector only 21% of manufacturers use modern technology by Indian Standards and another 70% may be classified as somewhere betwe en modern technology and ‘primitive’ technology. No company can claim to have world class technology. In the high-margin global export market for apparels, India faces tough competition from Vietnam, Indonesia and Bangladesh. In both US and European markets, (accounting for over 80% of the textile and clothing exports from India), India’s main growth comes from textile supplies, including intermediates such as yarn, fabric and made-ups. In the high-value clothing and apparel segment, India’s growth is behind its Asian competitors. In the EU market, India was fourth in terms of exports at Rs 503.83 billion in value terms. About Corporate Catalyst India A specialist firm to develop, implement and monitor your India business strategies. We conceptualize, implement a n d m a n a g e I n d i a e n t r y s t r a t e g i e s f o r c o m p a n i e s f ro m a c ro s s t h e g l o b e . O u r s e r v i c e s i n c l u d e b u s i n e s s a d v i s o r y, M&A, partner search, market research, taxation and compliance issues viz, JSOX, IFRS etc. 8