How Trump's tariffs could reshape India's fashion industry
US tariffs on imported goods, including textiles, are reshaping the global fashion landscape, presenting both challenges and opportunities for India. Genes Lecoanet Hemant emphasizes focusing on domestic growth, leveraging Indian craftsmanship, and catering to the discerning youth. The brand prioritizes quality, sustainability, and building a community around shared values, rather than solely pursuing international expansion.
In the ever-evolving world of fashion, global events often ripple through the industry, influencing trends, production, and market dynamics. One such event is the recent imposition of higher tariffs by the United States on imported goods, including textiles and apparel.
This move has significant implications for countries like India, a major player in the global fashion supply chain. To understand the potential impact of these tariffs on Indian fashion, we turn to the insights of Didier Lecoanet and Hemant Sagar, the visionary duo behind Genes Lecoanet Hemant, a brand renowned for blending French aesthetics with Indian craftsmanship.
Q: With the US imposing heavy tariffs on Chinese textiles and fashion goods, do you see a potential shift in sourcing towards Indian fabrics and artisans? How is your brand positioning itself to take advantage of this shift?
A:
Genes has slowly but steadily carved its own niche in the ready-to-wear space.
We have always championed Indian artisanal excellence but in negotiation with current consumer needs. There is a lot at play in international markets and trade laws, but the last decade of building a domestic infrastructure that consciously layers craftsmanship and industry lends us an advantage to focus on our personal growth unaffected by the current global climate.
Q: As global supply chains are restructured due to the US-China trade tensions, do you anticipate increased opportunities for Indian fashion houses to enter Western markets more aggressively?
A:
Fundamentally, global export houses and fashion retail brands have very distinct ideologies.
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Distinct structures, offerings and purpose altogether. Europe and America are parts of our expansion plan in the distant future. For now, Genes aims to solidify presence in India and the Middle East.
Q: How do rising costs and disrupted exports from China affect the pricing and competitiveness of fashion labels worldwide, including Indian brands looking to go global?
A:
Indian fashion labels and design houses function in a very different plane, with production rarely ever outsourced beyond national borders. As far as pricing and competitiveness goes, it is not going to affect designers from a production standpoint.
The international volatility could just be the right reminder for designers here to invest attention in India.
The urban population is dynamic and more aware of their buying patterns than ever before. There is ample scope to grow, but more importantly, to understand that growth is not just about being high-brow and appealing to the elite few internationally. It is equivalent to tapping the needs of the discerning youth in this part of the globe, offering meaningful product whose value is simply undeniable.
Q4: Many global fashion players have relied on China for quick turnaround and mass production. Do you think India can fill that gap without compromising on its artisanal and sustainable edge?
A:
It is an interesting undertaking, but also misplaced. India's role cannot and should not be shaped as a replacement to China. If anything, this is a moment to take a serious look at overproduction. We strike a balance between craftsmanship and scale.
We are mindful of production metrics and that plays a role in how we sit at the drawing table and conceptualise.
The goal is to make clothes that last and build a community on shared values, while nurturing India's unique offering of artisanal talent.
Q: From a creative standpoint, do trade conflicts like the US-China tariff war influence how you think about your design process, global audience, or product strategy?
A:
It should always be an idea that crosses borders, not merchandise.
I have stood by this principle that essentially guides all our product strategy and the brand values at large. Genes is built on a self-sustaining model of making clothes - from concept to creation. We have built a team of design talent, fabric suppliers and printers, embroiderers and tailors, marketing and sales professionals who have been associated with the brand closely for years now.
'Make in India' has been our motto long before it was trendy.
But all this is materialised with exceptional thought to quality, raising standards each season and crafting pieces at par with global standards.
The imposition of higher tariffs by the United States presents both challenges and opportunities for the Indian fashion industry. While the immediate impact may be felt in terms of increased costs and potential shifts in sourcing strategies, it also provides an impetus for Indian brands to focus on quality, innovation, and sustainability. By leveraging India's rich tradition of craftsmanship and adapting to the changing global landscape, Indian fashion can continue to thrive and make its mark on the world stage.
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