Indian designers still wary of managers and accountantsSeptember 7th, 2008 - 10:37 am ICT by IANS
New Delhi, Sep 7 (IANS) Fashion designers in India have been wary of corporate alliances and of seeking expert financial advice. This, industry sources say, has been hampering the growth of the industry and preventing young designers from making their mark in the international arena.”The main problem with this industry is that designers work independently and they are not at all comfortable in hiring a financial expert to look after their strategic alliances, joint ventures and partnerships,” said Dilip Kapoor, president of Hidesign, a designer bags brand.
“Designers do not seem to be comfortable in working with the professionals. They still prefer to manage their own finances,” Kapoor told IANS.
“All designers are creative people, but they do not have the right ingredients for the business of fashion,” he added.
Most Indian designers handle their own finances, trade and alliances even now, sources said.
Designers Suneet Varma and Gaurav Gupta agree that they are not comfortable in dealing with alliances.
“After working independently for so many years, if a financial expert tells you how to mange your finances, you tend to become uncomfortable,” Varma told IANS.
“To find a right financial expert is just like finding a perfect partner for marriage. You just cannot go wrong with it,” Varma added.
Gupta also said that he is “not comfortable sharing his finances with a stranger”. In terms of entering into a strategic alliance, he maintained that unless a big international brand gives him a tempting offer, he would not give it a thought.
Adman Prahlad Kakkar felt that young designers lacked global branding because they did not go in for strategic alliances.
“Established designers are already at the top but things become very difficult for the young designers who find it really hard to brand their product,” he added.
“You need a perfect combo of right people and good team to grow in the international arena,” Gupta added.