TexTile & AppArel reTAiling - Technopak within both the domestic market as well as the global one. it also elaborates the key challenges firms face while trying to maximize profitability

TexTile & AppArel reTAiling

W H i T e p A p e r

Fu tu re imp l i c a t i on s f o r Supp ly Cha in

publi shed By

January, 2014

About the Whitepaper

globally, the Textile & Apparel (T&A) industry is evolving from lower to higher value-added products through optimizing such functions as design, lead times, response to market demands, and compliance. The industry is now gradually moving out of the turbulent times it saw due to the global financial meltdown. The increasing globalization and evolving consumerism have had organizations developing strategies to leverage and cash in on this wave.

This industry, being highly globalized in nature, faces severe challenges. For instance, industry leaders are only now realizing the importance of improved sourcing, an efficient supply chain, higher productivity, and effective resource management. in the future, a successful business will need to utilize advanced technology, realign production processes, ensure end-to-end supply chain solutions, and consolidate its processes. Further, there is need for higher transparency and also for building a sustainable value chain. The T&A supply chain needs to become increasingly sophisticated, with virtual sampling, integrated production, and multiple vendors; be transparent; and have integrated order systems and supply alliances.

This Whitepaper attempts to identify new pockets of future growth and emerging opportunities across the T&A supply chain, within both the domestic market as well as the global one. it also elaborates the key challenges firms face while trying to maximize profitability and sustainability. While defining the challenges that lie ahead for the industry, this Whitepaper makes an attempt to list some of the initiatives industry leaders can take to make their businesses more focused, transparent, and cognizant.

Technopak- Fashion Division Services

Textile & Apparel Services

Strategy and Planning • Business entry• india entry and partnerships• growth and Diversification - india and global

Industry Studies• research-based Studies• Manufacturing Benchmarking

Mergers & Acquisitions/JVs• partner Search• Due Diligence• investment evaluation• partnership Structure

Public Private Partnerships• Mega Cluster Development• Skill Development• Textile parks

Apparel Operations Services

Performance Enhancement• productivity/efficiency enhancement• Material Utilization and Quality enhancement• Streamlining Merchandising and pre–production

Activities• lean Manufacturing Tools• Visual Control and SOps

• Total Quality Management

Start-up Assistance• planning and Design of Factory• implementation of layouts and process• Selection and Training of Middle Management• efficiency and production Build-up

Setting-up Operator Training Center

Capacity Building

Pre-production Process Streamlining

Incentive Schemes

Sourcing Services

The Textile & Apparel Supply Chain:An Overview

01

Higher growth of per Capita Apparel Consumption in Developing Countries

03

Conclusion10

Apparel retail: growing outsideof the US, eU, and Japan

04

evolving role of retailers andincreasing Customer Demands

04growth of Alternate retail Channels: Online retail

05

The Distinctive need for an Adaptive Supply Chain Strategy

06The need for a SustainableSupply Chain

09

02The Steadily-reducing Share of Apparel in Household Consumption in the US and eU

Authors:

Amit Gugnani | Senior Vice president

Aseem Doda | Associate Vice president

Prerna Kaushal | Senior Consultant

Design & Development:

Arvind Sundriyal | Assistant Manager-Design

Whitepaper January, 2014| Textile & Apparel Retailing: Future Implications for Supply Chain

1

it is a moment for which many of us have been waiting: after nearly three years of stagnation, the world economy is slowly coming back to life. Companies across the globe have begun shifting their focus from cost control and survival mode, to growth. As industry leaders pursue dreams of profitable growth, they have started realizing that ensuring sustainable profitable growth requires one to look at factors besides operational efficiency. There is much need to build up a supply chain which can address the needs of highly connected and dynamic customers. Apart from the retail sector, no other sector has been as much at the forefront of these new growth initiatives. globally, retail is the largest private sector industry, and is exceedingly organized in developed markets such as the US, where the penetration of organized retail is nearly 85%. Within the organized retail sector, apparel is the strongest category.

The world of apparel retailing has changed dramatically since the emergence of departmental stores, chain stores, and supermarkets in the early 1900s. The driving forces back then were mass production, wide distribution, effective advertising, consumer credit systems, and innovative customer service offerings (such as formal return policies). The same factors continued to urge the industry towards globalism, supported by the opening up of economies worldwide, falling transport costs, rising standards of living, and the emergence of popular culture as a global phenomenon. With the expansion of the retail industry and of cross-border retailing in the past two decades, internationalization has become one of the most important issues in retail strategy. revenues earned within the domestic market have been invested in operations in new markets in an attempt to sustain financial growth targets. This, in turn, has allowed retailers to consider further expansion, outside of domestic markets.

However, in recent years, as the global economy continues to remain uncertain, the apparel trade scenario has also changed. Although companies continue to expand beyond their home countries, business and operational strategies have evolved. The recent global financial crisis has had a large impact on most businesses, creating unique challenges for supply chain management executives. Today, they are forced to deal with declining sales, growing inventories, and aggressive cost reduction goals, uncertain energy and commodity pricing, global sourcing initiatives, quality improvement programs, and budget reductions. in the light of the competition extant in the market, firms have to focus on continuous improvement of the extended supply chain. The battleground becomes supply chain versus supply chain efficiency, and quicker delivery and higher levels of customer service at substantially lower cost. Further, it is no longer just about the enterprise and its profitability, but also about the extended supply chain. in an increasingly volatile global market, crucial decisions need to be made not just about reducing costs, but also about how to position the inventory within the value chain and manage available production capacity in order to meet uncertain demands.

inaccurate information about supply chain can result in inefficiencies, excess inventory and inventory costs, poor customer management, low revenues, misguided capacity plans, ineffective logistics, and mismanaged production schedules. While research, development, and innovation can facilitate an organization in terms of gaining a competitive advantage, the novelty of innovative products makes the demand for such products hard to predict. Furthermore, the lifecycles of such products are typically short as competitors imitate these products and end up splitting the margin. The shorter lifecycles and the larger variety, which are the USp of these products, further add to the unpredictability, the risk of obsolescence, and the cost of added inventory. The important components in the manufacturing-focused supply chain include material planning, production planning and scheduling, replenishment planning, demand planning and collaborative planning, store and DC replenishments, promotional planning, category management, and shelf analysis and retail-side store forecasting. The T&A supply chain can be segmented into seven main phases, viz. fiber production, textile manufacturing, garment manufacturing, distribution, consumption, disposal, and aftermarket.

This Whitepaper elaborates on the global scenarios existing within the T&A retail industry which are leading to changes in operational strategies and tactical measures. Also, it discusses certain measures that need to be taken by the industry in order to become sustainable and scalable.

The Textile & Apparel Supply Chain: An Overview

2

in the past few years, as a result of the global economic instability, it has been observed that the share of apparel in household consumption in the US and eU has been declining.

This can largely be attributed to shrinking economies, reduced disposable incomes, and a dented consumer confidence. if we look at one of the key indicators of an economy’s health, viz. gDp growth rate, all major consuming economies, except China and india, are expected to register a rate below 5%. Apparel retailers have therefore started broadening their horizons, and are more than willing to look at foreign markets for their growth and profitability.

The Steadily-reducing Share of Apparel in Household Consumption in the US and eU

Share of Apparel and Footwear in Household Consumption (%)

5.5

4.5

3.5

8.1

6.0

5.2

6.8

5.3

4.3

6.2 5.85.6

USA Germany France UK

Exhibit 1

Source: US Census, Eurostat, Technopak Analysis

1990 2000 2010

GDP Growth Rate Projections (%)

14

09

04

01

-6

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

7.88.5

6.9

4.44.9

3.7

China India World UK JapanUSA

Exhibit 2

Source: IMF


3

Higher growth of per Capita Apparel Consumption in Developing CountriesDeveloping countries like China, india, and Brazil are fast emerging as apparel retail markets, going beyond being just manufacturing hubs. They will form significant alternative markets to the US, eU, and Japan in the near future. it is projected that the per capita apparel consumption will increase by approximately 50% in China, and 25% in india, between 2011 and 2015.

Major retailers and brands based in the US, eU, and Japan, have also realized this trend and are now exploring international markets, especially in developing countries, and are expanding much more aggressively. This initiative is already showing positive results as retailers have started registering much higher growth in their revenues from overseas expansion.

Per Capita Apparel Consumption (USD)

680736

800

647700 729

52127

195

19 33 41

0

100

200

300

400

500

600

700

800

900

Source: US Census Bureau, EU CBI, NBS China, Technopak Analysis & Estimates

Exhibit 3

2005 2011 2015

US EU China India

Sales Growth of Major Brands (%)

Source: Company Reports, Secondary Research

Exhibit 4

Overall Sales Growth: 3-yr CAGR International Sales Growth: 3-yr CAGR

1114

3

13

7

15

52

9

1821

0

10

20

30

40

50

60

Ralph Lauren A&F Gap Inditex Uniqlo

4

Apparel retail: growing outside of the US, eU, and Japanearlier, retailers used to have a presence in only one country. But now with retailers expanding into international markets, they need to supply merchandise to various markets while maintaining consistent quality standards and at the same time, establishing efficient supply chains. This results in the need for market-specific planning tuned to local consumer preferences and requirements. There is thus an increasing need for localized merchandise planning, depending on the country, which encompasses product categories, garment sizes and cuts, designs, colors, pricing, seasonality, and prominent selling channels.

The past few years have seen an exponential growth in rental spaces globally. Again, many stores have started offering similar products, leading to stronger competition between brands to capture the limited share of customers’ wallets. Within this environment, as markets become more customer-focused and dynamic, a key differentiator for any company can be its supply chain. As customers are now much more demanding in terms of broader selection, superior quality, and higher availability, it becomes critical for any apparel company to invest in and develop a supply chain which is adaptive and anticipative.

evolving role of retailers and increasing Customer DemandsWith the evolving role of a store and of retail spaces, physical stores will not just be a point of sales anymore, but will instead act as a customer interaction medium for brands. Stores will eventually play a larger role in the overall buying experience of customers. They will act as a point of product display, for customers’ physical interaction with the brands’ products made available online, and a point of distribution to online shoppers, besides being a point of sale.

Sales Growth of Major Fast Fashion Retailers vs. Major Traditional Retailers (CAGR)Exhibit 5

2007 2012

0

5000

10000

15000

20000

25000

Inditex (Zara)

8%5%

0%

-2%

H&M Gap Dillard's

Traditional Retailers

- No. of customer visits per year: 3-6

- Average goods marked down (%): 40-50

- No. of seasons: 2-4

Fast Fashion Retailers

- No. of customer visits per year: 15-20

- Average goods marked down (%): 15-20

- No. of seasons: 12-24

Source: Company Reports, Secondary Research

Sale

s (U

SD m

n)


5

With the increased incidence of impulse purchasing and shorter product lifecycles in clothing, fashion seasons are increasingly becoming shorter, and there is wider acceptance of fast fashion models. it is crucial that response times are reduced, which in turn necessitates establishing a strong and collaborative supply chain between the buyer and supplier. Thus, shifting sourcing patterns are requiring teams to work through a greater number of seasons, often as many as 12 instead of the earlier two or four seasons. Again, the need for better control on raw material costs and improved responsiveness to changing fashion has squeezed lead times. Consequently, manufacturers do not have the luxury of receiving orders for greige fabric, or for blocking capacity, in anticipation of future orders anymore.

growth of Alternate retail Channels: Online retailWith the acceptance and increase of alternate retail channels such as e-commerce, there is now a heightened need for collaboration. e-tailing offers a host of advantages to apparel brands and thus has the power to transform traditional retailing economics. Thus, with the rise and acceptance of apparel e-tailing, there is a need for collaboration and strategic alliances between manufacturers, retailers, and such service providers as logistics players and warehouses.

Online Apparel Sales Projections in the US (USD bn)

Exhibit 6

Source: Emarketer Source: Company Reports, Secondary Research

2011 2012 2013 (P)

CAGR 16%

2016 (P) Ralph Lauren GAP A&F0

10

20

30

40

50

60

70

80

0

5

10

15

20

25

30

35

Growth in Online Sales of Selected Companies (%)

3441

49

7330

24

27

YOY growth in 2012

6

The Distinctive need for an Adaptive Supply Chain StrategyWithin indian retail, the major segments are food, clothing, consumer durables, and books and music. Again, within organized retail, clothing is the fastest-growing category, and parallels food. The growth in the apparel segment is predominantly driven by the development of modern retail.

The increased presence of organized retail has created an opportunity for such new retail formats as hypermarkets, cash & carry, and e-commerce. As a result, a large number of international apparel brands have forayed into india to leverage the potential. The consequent increase in competition has impelled international brands to customize their products and policies to suit indian tastes and preferences.

Modern Apparel Retail (USD bn)

Growing Presence of International Brands in Modern Apparel Retail (%)

Exhibit 7

Source: Technopak Analysis

2013 (E)

2013 (E)

18

82

2018 (P)

2018 (P)

41

64

8

18

Total Market Modern Retail

25

75

Domestic Brands International Brands


7

Similarly, the consumption supply chain is unique as the consumers’ tastes changes every few kilometers. The ethnic, linguistic, and cultural diversity of india results in sharp differences in tastes, habits, incomes, and consumption. This results in retailers’ product proposition becoming region-specific, leading to a multiplicity of stock keeping units (SKUs). Further, the phenomenal increase in operating costs due to the increase in real estate prices is pushing down retailers’ profit margins constantly. These high real estate rentals leave no room for retail stores to stock excess or additional inventory. The combination of these factors leads to a unique indian consumption supply chain which includes the handling of a large number of SKUs in pieces, in contrast to the handling of limited SKUs in the form of pallets, by most large retailers across the globe. Further, in emerging countries like india, the retailing business continues to be dominated by independent retailers, mom-and-pop stores, and unorganized markets. Here, wholesalers and distributors carry goods from various suppliers to the independent retailer (owned shops and unorganized markets). Due to such inherent dynamics and multifaceted nature of the clothing industry, fashion retail has its own special prerequisites. Thus, there is a growing need to learn the art of handling these complexities, and to design, develop, and execute supply chain solutions that are distinctively indian.

Typical Apparel Retail Supply ChainExhibit 8

Fabric Mill Logistics ApparelManufacturer

Logistics Warehouse Logistics Retailer

Physical Product Flow in Apparel Retail Supply Chain

Demand Information Flow

Tracking of Items

Efficient Reverse Logistics

Better Replenishment

Reduced Shrinkage

Improved Inventory, Receiving, and Shipping Accuracy


8

To survive in today’s challenging global market, alongside buying the right goods at optimum prices, it is also crucial to have products at the right place, at the right time, at the right operational expenses. This requires efficient logistics systems and processes. The T&A industry stands out as one of the most globalized industries in the world, with a supply chain spread across the globe which includes retailers, contractors, merchandisers, buyers, suppliers, logistics players, warehouses, and customers, each with an important role. The entire supply chain needs to be integrated, as managing logistics requires close coordination across the network of suppliers, manufacturers, co-packers, distribution centers, transportation providers, and stores. Traditional supply chains generate sequential and isolated plans for inventory, production, distribution, and procurement.

retailers worldwide are attempting to implement various supply chain practices in order to efficiently manage their key goals, including reducing slow moving inventory and thereby improve stock turnover, reducing clearance inventory, improving the process of ordering, receiving, packing out from receiving, improving the process of products markdowns, improving the sales per footfall, sales per employee, reducing out-of-stock inventory, guaranteeing accurate store sales/inventory data, and improving merchandise availability.

global buyers increasingly prefer suppliers who can provide end-to-end solutions rather than just manufacture garments. in order to gain a competitive advantage, most buyers and suppliers are looking at consolidation and are exploring strategic partnerships with each other. Further, T&A businesses everywhere are trying to develop a customer-focused business model. They enter into long term strategic partnerships with their buyers in order to have total control over the supply chain and create economies of scale. For manufacturers, capacity blocking ensures volumes and better production planning due to end-to-end visibility. Building a long term relationship with buyers also helps establish supply chain excellence. For buyers, strategic partnerships ensure a faster turnaround, closer-to-season decision making, lower out-of-shelf time and lost sales, fewer markdowns, reduced inventory levels, and an opportunity to focus on the core business of retailing rather than on sourcing activities. Suppliers can contribute to reducing supply times by setting up a vertical supply chain from fiber to garment, as this will shrink the time spent on transportation. Further, the time spent on approvals and/or couriers can be saved through a closer collaboration with buyers. Thus, increasingly, the visible trend is towards consolidation and forging strategic partnerships across the value chain. players are integrating activities from design development, vendor management, manufacturing, and supply chain.

in recent times, the industry has witnessed various forms of strategic partnerships covering diverse business issues. Many retailers and brands want partnerships involving upstream integration to better control the value chain; at the same time, many players are relying on strategic tie-ups for research and development, and innovation. Dye manufacturers are working closely with fiber players to launch colored fibers targeted at specific markets. Fabric and apparel manufacturers, as well as retailers, are partnering with pure-play logistics players so as to focus solely on their areas of competency and maximally leverage their expertise and experience. Of late again, many fiber players which have managed to establish themselves as fiber brands have partnered directly with apparel brands to launch fiber-specific programs in specific markets.

Supply Chain CollaborationsExhibit 9


Man

ufac

ture

r Common Logistics Common Warehouse

Consumer

Retail

Regional Consolidation

Data Sharing

Collaborative Supply Chain


9

The need for a Sustainable Supply Chain

Traditionally, the T&A industry has operated in an unsustainable way. energy and other resources have been used wastefully and inefficiently throughout the supply chain, leading to increasingly unsustainable levels at each phase of production and logistics. post-purchase use and disposal are hardly ever given due consideration during the development and production phase of T&A merchandise. in production hubs across countries like india, pakistan, Bangladesh, China, Sri lanka, and Vietnam, toxic fumes from dyeing units, untreated water, etc. are increasingly released into community drains. The use of child labor and hazardous living conditions are also common in these manufacturing countries. Further, diesel-based electricity generation, and the use of pesticides and insecticides in cotton farms are predominant issues in any textile or apparel hub. The industry has been dominated by incompliant sweatshops and working environments. Many occupational health hazards are associated with the industry’s workforce due to the prevalence of such working conditions and the related exposure to hazardous chemicals, particularly in cotton production. Also wet pre-treatment, dyeing and finishing, fiber dust, denim dust, etc. give rise to respiratory diseases and are heavy lung irritants. increased globalization, consumerism, and the desire for fast fashion have lent substance to this unsustainable value chain.

Briefly, the existing approach vis-à-vis the development of the T&A value chain is neither environmentally nor socially conducive nor viable. each phase of the clothing production value chain has the potential for negatively affecting the environment and also has a social bearing. Thus, there is need for immediate intervention by the entire T&A industry. Although many organizations and brands are following a new sustainable approach, and taking steps to modify their supply chain practices in order to minimize the environmental and social implications, there is still much more to be done.

Throughout the T&A industry, there is at present a gap in terms of making the entire supply chain sustainable. it is imperative to create an approach that is environmentally and socially viable, while also being profitable. For brands and organizations, it is now about how to be sustainable and engage stakeholders effectively and efficiently. Building a sustainable economy will require prompt change and approach by thought leaders. Businesses with sustainable supply chains incorporate sustainability into their day-to-day operations and decisions at every level. progressive T&A companies are competing to address extant issues and create more sustainable businesses. The strategic approach to sustainability involves developing a philosophy of sustainability within the organization, creating goals, implementing workable projects to meet these goals, educating employees and stakeholders, and regularly auditing the entire supply chain to correct any abnormalities. The industry needs to be proactive in finding ingenious and innovative ways of designing and developing fashion instead of seeing sustainability as a constraint or a limitation.

10

Conclusion The unique features of the T&A supply chain are short product lifecycles, low predictability, high volatility, and high levels of impulsive purchasing. it requires getting the merchandise to the retail stores within short times-to-market and at low costs-to-market repeatedly. given the long lead times that are extant in the industry, it is important to have an effective supply chain to help retailers buy products as close to the season as possible.

Thus globally, there is a need to develop flexible manufacturing rather than large manufacturing. There is a need to focus on lean manufacturing strategies, shorter runs, just-in-time inventory management systems, and automated systems. More adaptive manufacturing approaches need to be followed. Manufacturers should separate manufacturing bases for the Basics and Fashion ranges, and apply a multi-location manufacturing approach. They can manufacture value-added products in-house and outsource the basics. Manufacturers must focus more on improving business efficiency. Technology deployment, across the entire value chain, will also be critical in the immediate future. retailers should use advanced analytics tools for forecasting. Tools for processing ‘Big’ data must be used for tracking consumer demands and fashion trends. Technology deployment will reduce the need for labor management and ease the product development and sampling process, besides facilitating production (through greater automation), warehousing, and shipping processes.

retailers must develop localized/regional supply chains through strategic alliances, joint-ventures, acquisitions, and/or wholly-owned manufacturing and marketing subsidiaries for each China, india, and Brazil. increasingly, there is need to create a sustainable supply chain model alongside improving business efficiency and profitability. The impact of T&A production, throughout the supply chain, on the environment and society needs to be minimized. Developing and executing a strategy for sustainability is critical for all T&A-focused organizations as there is a growing push from both consumers and the industry. leaders have to move beyond strategies for short-term prosperity and work towards long-term sustainability.

Supply chain in india suffers from the percetpion that these are activities related to logistics or warehousing. in several organizations, supply chain management (SCM) was started as a reactive process to increasing costs and global competition. Some organizations regarded SCM as a tool for profitability, but mostly as a tool for cost reduction. However, in recent times, indian apparel retailers have learnt from western retailers and have given SCM a strategic position in their business strategy, instead of viewing it as merely an operational issue. large format retailers are seeing SCM as a key to increase their profitability.

Many organizations in india are now gradually moving towards improving their profitability and efficiency by implementing various supply chain techniques. The most commonly used tools are information technology-based. apparel retailers have started seeing information technology as an important tool to improve efficiencies and are taking definitive steps towards leveraging iT tools in reducing the gaps in the supply chain. Companies have begun understanding the need for building a sufficiently flexible supply chain which enables them to capitalize on new growth possibilities like developing a new product in the shortest possible time. The future belongs to those companies wherein a robust and flexible supply chain can become the base for any growth initiative.


11

About Technopakindia’s leading management consulting firm with more than 20 years of experience in working with organizations across consumer goods and services.

Founded on the principle of “concept to commissioning”, we partner our clients to identify their maximum-value opportunities, provide solutions to their key challenges and help them create a robust and high growth business models.

We have the ability to be the strategic advisors with customized solution during the ideation phase, implementation guide through start-up and a trusted advisor overall.

Drawing from the extensive experience of more than 150 professionals, Technopak focuses on four major divisions viz. retail, Consumer products & e-tailing, Fashion - Textile & Apparel, Food Services & Agriculture, and education.

Our key services are:Business Strategy: Assistance in developing value creating strategies based on consumer insights, competition mapping, international benchmarking and client capabilities

Start-up Assistance: leveraging operations and industry expertise to ‘commission the concept’ on turnkey basis

Performance Enhancement: Operations, industry and management of change expertise to enhance the performance and value of client operations and businesses

Capital Advisory: Supporting business strategy and execution with comprehensive capital advisory in our industries of focus

Consumer Insights: Holistic consumer and shopper understanding applied to offer implementable business solutions

12

Our Other Divisions

Retail, Consumer Products & E-tailing

Technopak aids retailers and consumer product companies in formulating growth strategy and performance enhancement mandates. Over the past two decades, we have worked on various facets such as entry into the indian market, development of new category, activation of new retail formats, channel development, product extension, region expansion etc. One key reason why Technopak is considered the industry leader is the relentless focus on the indian Market. We help clients understand the market dynamics in india and help them arrive at the best method to grow business in india. Our retail and Consumer product expertise helps gain a competitive edge by providing execution capabilities and corporate strategies.

Education

Technopak’s education division has a vast understanding of the sector in terms of industry environment, growth potential, regulation and policy, which has enabled us to become a thought leader in the sector. Technopak caters to all the education segments – K-12, Higher education, Vocational Training and ancillaries. innovative business models and government thrust on privatization has led to assertive participation by private organizations. Such participation spans various levels of investment and operational scale, be it organization planning for expansion in the country or foreign institutions aiming to foray into the indian education sector.

Food Services & Agriculture

Technopak’s Food Services & Agriculture team comprises of established domain experts who build and enhance the business performance of organizations which are either working in the segment or are willing to enter it. Our end-to-end solutions are customized as per the business’s requirements and capabilities. We continuously strive to create strong industry relationships and work for a global footprint by delivering a wide range of services to organizations that operate or wish to operate in the Food and Agriculture sector, in india as well as internationally.

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TexTile & AppArel reTAiling - Technopak within both the domestic market as well as the global one. it also elaborates the key challenges firms face while trying to maximize profitability

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