Adapting to Change
The evolving landscape of industries, from fashion to FMCG, reflects the dynamic interplay between consumer preferences, market demands, and innovation. Businesses today are navigating challenges while seizing opportunities for growth through strategic pivots and customer-centric approaches.
In the fashion domain, the shift towards customization, casualization, and ceremonial wear highlights changing lifestyle trends. Brands like P N RAO adapt to these transformations with a focus on tailoring and evolving consumer needs. Meanwhile, in the FMCG sector, brands such as Mama Nourish are redefining traditional recipes for modern tastes, creating healthier, sustainable options that resonate with today’s conscious consumers.
Whether it’s tailoring bespoke suits or launching low-carbon, health-friendly snacks, these industries underscore the importance of innovation and purpose-driven strategies to meet the expectations of a discerning market.
From an industry standpoint, perspective from 3 angles –
1) Fabrics
2) Bespoke Tailoring
3) Retail sector for men’s wear.
According to Ketan Pishe, Partner, P N RAO
We have witnessed 17% growth in term of price point, on a like to like basis, we are given to understand that this trend is the same at an overall industry level, too. Secondly, “fast fashion” brands who sell bulk quantities and with many brands entering the mass market sector with low price points, consumers, especially those with an eye for qualitative attires, to be more precise from SEC A, B class, prefer more customized garments, than mass produced ones. Customization has resulted in increased challenge in keeping pace with the demands of customers / requirements, especially during high demand seasons. At the other end of the spectrum, in retail (aka Ready-To-Wear Segment), people-wearing suits to work has shrunk with the trend of casualization / semi-formals clothing taking center stage. At the same time, the good news is that Ceremonial Wear and Travel Wears have kept a steady pace and continues to contribute a healthy portion to the overall pie. At P N RAO too, a sizeable portion of the contribution comes from these two segments. However, the price points have remained the same, except for the designer wears.
Specific to P N RAO, the first half of the year was quite challenging with some hollow portion – (scarcity of wedding dates) – an exception in the year 2024. This contracted the demand. This prompted us to pivot / concentrate more towards the tailoring business. In the second part of the year, demand resurged and we utilised the opportunity to the best of our abilities to cater to customer demands and needs. In terms of expansion, we will be exploring the franchisee route as well to penetrate deeper and wider into other geographies.
FMCG
According to Yash Parashar ,Founder & CEO Mama Nourish
Mama Nourish entered the market in Jan ’24 with the promise to bring traditional grandma’s recipes for the modern world in their healthiest avatars, made using only kitchen ingredients.
Our humble yet remarkable leaps include: Achieving over ~3,00,000 units sales within only 11 months. Operating through an omnichannel approach our flagship range of LADDUBARs are available on our online brand store mamanourish.in as well as e-commerce platforms like amazon and First Cry.
We also set foot across 250 major corporate establishments and three airports across Delhi, Mumbai, and Hyderabad through vending machines. The company’s flagship range of LADDUBARS are turning heads across Nature Basket premium gourmet stores in Mumbai, Ahmedabad and Bangalore. The company exhibited its new product introduction capability by launching a series of new SKU each month for past 5 months, including the all new range of bite-sized (less than 45 calorie) Laddubars minis to the Product Portfolio in three exciting flavours of Dryfruit, coconut and Besan. . A recent IIIT Delhi study revealed that our products have a 10 to 15 times lower carbon footprint compared to similar products.
Customers are beginning to recognize us for our true and authentic purpose. We became a brand of Gifting choice particularly during the festive season.
