'Consolidation happens during challenges & uncertainties'

03 Jul '17

1 min read

Consolidation, both at the retailer and supplier levels, happens whenever there are macroeconomic challenges and uncertainties, similar to the one we are seeing today, says Pallak Seth, the man who founded and propelled Hong Kong-based PDS Multinational into being a leading manufacturer for some of the world’s most popular high-street brands and retailers.

During periods of macroeconomic challenges and uncertainties, most of the companies shy away from making investments, and consolidation happens. “Stronger companies will get stronger and the weaker ones will fade away. If a business is in part of the consolidation, they will do well,” Seth says in an exclusive interview with Fibre2Fashion.

“For instance, in 2008 during recession, our company almost doubled in turnover in three years. A lot of our retailers aligned with the suppliers and we were part of that strategy of consolidation. Now, we understand that during such challenges, many people try to either exit the industry or restructure their business during which they outsource the design or any other solution; in that consolidation we benefitted,” he adds.

Subscribe to Fibre2Fashion now to read the complete interview of Pallak Seth, Vice Chairman and Founder, PDS Multinational

ALCHEMPro News Desk – India

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