Interview with PDS Multinational Fashions Ltd
We consider ourselves not just a fashion company but also a global platform with our foundation in sustainability and technology, says Sanjay Jain, CEO, PDS Multinational Fashions Ltd.
Can you shed some light on how PDS Multinational Fashions is transforming from being just a ‘fashion’ company to a truly digital platform providing ESG compliant end-to-end solutions with sustainability at its core?
PDS Group aspires to be the industry’s 'first choice' partner. We believe in minimizing the environmental impact, whilst sustaining the business and communities we serve. Sustainability is at the heart of the PDS ecosystem, and we work closely with our partners to achieve the highest standards of compliance, sustainability as well as technical excellence. Innovation and efficiency driven by digitization are key priorities for the PDS platform. With our keen design sense, extensive industry experience, and adoption of the latest techniques and technologies, PDS is enabling brands and retailers across the world to cater to fast-evolving tastes and consumer preferences.
We also explore seed and early-stage investment opportunities that enable us to participate in businesses that focus on sustainability, circularity, consumer tech, fashion tech, amongst others which can benefit the PDS ecosystem. These investments are based on key parameters that align with our overall vision and enable us to provide solutions for the future. Technology will continue to help us expand into new geographies economically and develop new products.
We consider ourselves not just a fashion company but also a truly global platform with our foundation in sustainability and technology.
What are your plans for diversification into new product categories such as home fashion and active wear categories across existing markets?
Our expansion and diversification plans are two-fold. The first is expanding our geographic footprint beyond the predominant markets of the UK and Europe which currently account for 80% of the company’s total business. On the one hand, we will continue to strengthen and penetrate our key markets (UK & Europe). On the other hand, we are accelerating our presence in North American and other geographies. We started our journey on a strong footing, with 15% of our current top-line coming in from the US market, which was 9% roughly two years ago. We believe we are well on track to cross the target 20% share of our overall top line.
Secondly, to expand our product offerings we have on-boarded new business heads with strong industry expertise in building our strengths in newer categories such as home, lifestyle tech products, consumer products, and accessories. We strongly believe this enables PDS to cater to a larger wallet share of the existing customers while expanding customer base in new geographies.
What steps are being taken to enhance sourcing and strengthen your vendor network?
PDS continues to broaden its reach to major markets globally by strengthening the vendor network in strategic locations. While Bangladesh is one of our key sourcing geographies, we are constantly strengthening our presence in other strategic regions such as Turkey, Vietnam, India, and Sri Lanka. We expect to continue our growth momentum and strengthen partnerships with vendor factories. For instance, in Sri Lanka, through our key subsidiary, we have entered a strategic exclusive partnership with two manufacturing facilities for baby and kids-wear categories catering to North America and Europe. Additionally, we have on-boarded a very senior industry professional who would now help us further strengthen our operations in Vietnam.
What are your business growth levers?
As discussed in the questions above, PDS is leveraging its robust platform to propel itself into the next growth phase. We are strategizing our way forward by unlocking potential in untapped geographies and categories. While there is some degree of uncertainty that still exists due to the ongoing COVID-19 pandemic, we are closely monitoring the situation. However, we continue to build teams, collaborate with marquee customers, and focus on increasing the wallet share with existing customers. We are well geared for furthering growth.
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