Uncertainty Looms

Purple haze all around
Don���t know if I���m climbin��� up or down Am I happy or in misery?
These lines by Jimi Hendrix sum up the state of mind fashion fraternity of the country are in. The dates are out. The news is (we don���t know whether it is good or bad), that yet again, two fashion weeks have been pitched head to head in Delhi, and the Mumbai one is being held at about the same time in March.Individuals and companies have lost billions in the market but will that lead the designers to cut on frills? Will their next lines be made keeping with the times?
Recession is not fashionable but it has affected the fashion industry. Confirms Ace designer Rina Dhaka, ���There was a decline in retail last year, but eventually people moved back to buying. It is a wait and watch situation for now. Though we have had to reduce our international prices, the domestic market has yet to catch the recession fever.��� The number of registered participants and buyers increases with every event; that itself could be the reason of inevitable concern. ���More number of players in the market can also be a reason for reduction in sales per player,��� says Rina.
Will the designs also bear the brunt of slowdown? Will it be the year of austere chic? Denies Ahmedabad based designer Shyamal Shodhan, ���People are not in a mood to spend thanks to the uncertain macro economic environment, but that will have no influence on my designs.��� Designer Digvijay Singh on the other hand says, ���I assume buyers will do proper homework and become more selective and cautious. I am going to decide my fabrics, designs and pricing accordingly.���
Most designers however feel that the situation is not as dismal for their bottom lines. Designer Ashish Parikh illustrates, ���My revenue is dependent on the cocoon of domestic market: weddings. Fortunately, as wedding is D-day for the bride and groom, they are still spending the same on dresses. While we don���t see very high growth next year, we expect it to be steady. Summer is a dull period for us anyways. Things should get better in four to six months. Our label has not been hurt yet, but if need be, I am ready to lower my prices to stay competitive in the market.��� Reveals Shyamal, ���Fewer NRIs have turned up but surprisingly, our business has done well. For 2009, since our industry size is small, it shouldn't be majorly affected.���
India could actually gain from the meltdown as it has the capacity to offer luxury pr��t at pr��t prices to international buyers. Agrees Digvijay, ���Pick up any garment abroad and it would be made in India, Bangladesh or Vietnam. Since labour is cheap here, we can definitely offer them attractive deals.��� Another good thing about recession, says Shyamal is that, ���Rentals have crashed. This has made our expansion plans into other cities easier.��� Ashish Parikh has similar plans of foraying in other cities, promotional fashion events and they are all participating in the weeks with the same spirit.
Earn and burn philosophy is dead. Caution is in.We hope they have the correct reasons to be optimistic and not just turning the proverbial Nelson eye to tough times!
khushboo.chawla@ timesgroup.com