Dealing with growth pressures

Abstract

Apparel Industry is one of the most sought markets in the recent times. With the advancement of technology and a larger platform than before, the companies can sell their products on a larger scale. It is estimated that the global apparel market is expected to grow at a CAGR of 9.8% from $551.36 billion in 2021 to $605.4 billion in 2022. In the future, the market is estimated to grow to $843.13 billion in 2026 at a CAGR of 8.6%.[1 ]. The market is made of different stakeholders selling their products in the market such as an organisations, partnerships or traders. There are many operations associated with the apparel market right from purchase of fabrics, cutting and sewing to make garments then selling it off to the B2B clients or directly to the consumers. There are many segments in the apparel business and it opens a wider scope for many companies to enter and gain competitive edge over another. It is a volatile market affected mostly by the fashion trend and the quality it is being sold in the market. Zara, H&M, Manyavar etc are some of the top brands in India[ 1] Case Joya since its establishment in 2012, designs, manufactures and delivers stylish apparels for various prestigious retailers. Engaged as a retail and fashion apparel manufacturing firm, they have their three manufacturing facilities and warehouses in Delhi's Dugalkaband. They cater to many retailers like Roadster and Metronaut, Myntra's private labels and other groups[3]. As the company expands its business category in the Athleisure segment, it faces fierce competitors in the form of Fashionza in the B2B segment and Decathlon in the B2C segment. The founder feels that they do not have sufficient funds for marketing and advertising their products in the market as a result of which they are not able to gain sufficient competitive advantage. All the prior investments have been from the family and business and the founder is open for investments with proper guidance from the investors.