Q: When was Dream Avenue established?
I stepped into this business soon after answering my final paper at the B.Com examinations. The store at Coelho apartments, opposite Bank of Baroda, Margao, was established on 1 April, 2004. My uncle helped me financially establish this business. In fact, this was the first garment store in that area. The premises for another store at Reliance Atria, Margao was purchased by me five years back. That opened in October 2016.
Q: What is the range of garments available at your store ?
We store a variety of garments for kids, ladies and men. We sell garments at reasonable prices which extend from Rs 200 to Rs 3,000 for kids, Rs 500 to Rs 2,000 for ladies and gents. We maintain quality and variety at reasonable prices.
Q: What is client profile ?
Our store is patronised by local customer belonging to all classes - 99.9% of our customers are local.
Q: What challenges do you face in the ready-made garments business in Margao ?
There is lots of competition in price although we have a monopoly for some garment items. Apart from this, I faced staff related problems in the initial stages. Market conditions such as weather (rains), demonetisation, GST also affects us as we are totally dependent on local customers.
Q: How do you view the emerging competition in this trade?
We maintain price, quality and service. We give maximum service to our customers such as offering exchange on item within a few days of purchase which, perhaps, most others do not offer.
Q: Given that fashion changes at a rapid pace, how do you deal with the problem of ‘dead stock'?
The ready-made garment business is dependent on the choice of clothes by the owner suited to the tastes and likings of his customers. We clear our stock within two months. We change our stock every one-and-half month by offering special discounts to our customers to clear/cut the size of our stock. Moreover, the stock which I purchase is different from that of other stores. I purchase it directly from the factory.
Q: Do you perceive any threat to the ready made garment business from the ‘Made-to-Order' exclusive branded / retail shops in the near future?
With the passage of time, made-to-order (stitching) category is gradually phasing out as more and more customers are switching over to ready-made category. I foresee no threat from made-to-order category. However, in the ladies category, those preferring western garments opt for stitching. This comprises around 30% of the total lady customers.
Q: Are you planning to set up any more showrooms in Goa?
Basically, I want to focus on Margao and Salcete. Presently, I intend to focus on expansion in variety of garments instead of expansion in stores.
Q: Finally, what future do you foresee for the evolving but dynamic ready-made garment showrooms?
Although there is competition from big stores, the business is customer-oriented and price plays a major role. We maintain the price range to suit our customers as compared to other stores.
