Govind Shrikhande has led Shoppers Stop for the last ten years as president and ceo and takes a look at some of the factors facing the $700 billion Indian retail market.
The famed fabric, long used in Indian saris and bridal gowns, is now being taken up by designers worldwide as part of a push by the Indian government.
The investment is the first in an Indian brand by the firms, and could show that Western brands at last believe the Indian luxury market is set to take off.
The U.S. retailer has taken a 77 percent stake in Flipkart for $16 billion and becomes the market leader in India.
The designer discusses his commitment to traditional Indian textiles as well as his plans to open two stores later this year.
A study by NYU’s Center for Business and Human Rights recommended a series of further improvement actions that would cost an estimated $1.2 billion to implement.
Amazon is said to be considering an investment in Flipkart, cutting off Walmart’s reported efforts to expand in the key Indian retail market.
The apparel sizing project is expected to be completed by 2021.
Microfinance Opportunities studied female workers in the apparel industries in India, Cambodia and Bangladesh for a year.