Divulging on the new collection, Lubeina Shahpurwala, co-founder, Mustang Socks & Accessories, says, “We are currently looking to set up and develop our e-commerce platform through which we want to be able to reach out to customers of all age – men, women and children. We aim to be one of the best apparel brands.”
For the current and upcoming season, spring and summer, we have planned to incorporate bright vibrant hues in our products. The new designs will also be bolder.
“Mustang is currently present in 8000+ MBOs. We have a robust distribution network with 36 distributors present across India. We are looking at fortifying it further this year. This would mean increasing our presence in all B+C territories other than strengthening our presence in the metros.” adds Shahpurwala
On the changing dynamics of socks segment, Shahpurwala says,“We have witnessed incredible surge in the knitwear industry due to the product and fibre innovations. Formal outerwear is also being manufactured in knitted fabrics where comfort and fashion are the main factors in the design element. The same concept has filtered down to the accessory segment in knits as well. Socks have become more fashionable, comfortable and easily accessible.”
Generally, these are impulse purchases and can be regularly changed. The segment is doing quite well offline and has encouraging growth potential. However, there are particular aspects that a customer looks for while shopping like convenience, location, price, etc. This isregardless of whether they areshopping online oroffline. If these things are kept in mind by online and offline retailers, there is immense and more potential for knitwear to further boom.
Online retail catching up?
A lot of our customers want comfort to be a major component of their fashion statement, says Shahpurwala. “They are completely aware and sure of what they want. This has led to a great outlet for our fashion product line and also immediate feedback on our designs. Although the conventional trade has apprehensions about the trendier range, but this channel has reinforced our belief in the fashion business and has also helped us build dealer confidences.”Talking about the range, she says, “We plan to showcase a mixed range of products where we presentbasic value packs as well as our fashion line. By this, we will be able to ensure that our both our existing customers who want our basic and fashion line, get access to the same and the youth get access to the trend line.”
Branded vs non-branded
Earlier, the knitwear industry was dominated by non-branded players. However now, it is rapidly growing as more and more brands gear up for this segment. “Our brand name is synonymous with socks in India. When our brand is spotted, the customer surely is aware that he is buying the best apparel India has to offer,” proudly says Shahpurwala.
Export scene in India
“India is now numero uno in garment export to the US, where men’s/boys’ cotton knit shirts are concerned. We overtook China for a while in 2016, for the first time and this was only because of the dip in their exports of knitwear. The slouch opened doors for not only India, but also other developing countries such as Vietnam and Bangladesh.Like us, these countries too have an increased market share in segments like women/girls knitwear, men/ boys’cotton trousers, shorts, nightwear, etc.However, India is finding it difficult to compete with nations like Europe and other parts since it does not enjoy benefits like Vietnam, Bangladesh, Cambodia, Sri Lanka and others under trade agreements,” elaborates Shahpurwala.