Kerala Brands in Retail Market will Consolidate Dominance: Experts at Invest Kerala

KOCHI:
Kerala brands are set to dominate the country’s retail market with the government particularly stepping up efforts to reactivate the state’s garment-manufacturing sector, experts noted at the Invest Kerala Global Summit today.

Notwithstanding a tough challenge from online trade, opportunities are on the rise for the sector in Kerala, they said at a session on ‘Retail Revolution: Emerging Opportunities’, emphasizing the need for world-class brands to emerge from the state.

“Every manufacturer should try to build a reputation for brands from Kerala in the global market,” reiterated Kalyan Silks CMD T.S. Pattabhiraman, recalling that the garment manufacturing sector had migrated from Kerala to other states. “Efforts are on to bring them back to Kerala, thanks to the creative efforts of the state government,” he added at the discussion moderated by Deccan Herald Opinion Editor Viju Cherian.

Shadowfax Co-Founder and CEO Abhishek Bansal, noting that Kerala has been a “hotbed for youth entrepreneurship”, said the state was of late evolving as a hub for domestic brands. “All the same, there is a growing interest in international brands,” he pointed out, adding that Kochi and Thiruvananthapuram were among the top 15 cities in the country for online food delivery.

Myntra Senior Vice President Venu Nair said the fashion and apparel sector currently had a market value of $80 billion. “Of this, only 13 percent is in e-commerce. Therefore, there is a huge untapped opportunity in this sector,” he noted.“India is the last frontier that world-class brands have yet to conquer. We should fully exploit this potential.”

Aditya Birla Fashion and Retail President Jacob John pointed out that Kerala’s retail sector was giving way for a “significant revolution”. Noting that the figures from the state were higher than all national averages in the retail sector, he said: “Kerala enterprises are still at the forefront in multi-brand outlets.”

Sangeetha Mobiles MD L. Subhash Chandra said the monthly repayment system has brought about revolutionary changes in the retail sector. “It is amazing how the retail sector in Kerala has bounced back from adverse situations, including natural disasters and health crises.”

Retailers Association of India Chairman Bijou Kurien said the villages of Kerala were richer and owned higher purchasing power than the cities elsewhere in the country. “The better standard of living and progressive mindset will influence the purchasing power in retail,” he added.