Mentoring The Gen X

The Clothing Manufacturers Association of India (CMAI) organised a mentoring session for the Second Generation Entrepreneurs who have joined their family Businesses. B S Nagesh was the Key Speaker at the Session, and gave his valuable insights on trade and markets, on bridging the gap between generations and finding new opportunities in a new world. Mrugaya Chitnis reports.

The first Ivy League Gen X meeting was organised on January 23 by the Clothing Manufacturers Association of India (CMAI) at their Mahalaxmi Office. The seminar, aimed at mentoring the new generation of entrepreneurs and creating a platform for them to talk about adversities and opportunities of trade from their perspective, was attended by 30 Gen X entrepreneurs.

The session was presided over by B S Nagesh, the founder of TRRAIN (Trust for Retailers and Retail Associates of India). An Industry expert, Mr Nagesh is also the Non-executive Vice Chairman of Shoppers Stop and has been with the department store since its inception in 1991.

FROM TRADITION TO TECHNOLOGY

Transition from a traditional set-up to a technology based one, competition, and understanding the business environment are the challenges faced by the new entrepreneurs. The session commenced with inputs from some Gen X members about challenges and opportunities that they encountered.

Vidhi Dalal from the label B:Kind said, ‘‘Six years back, I started B:Kind, in the western womens wear segment. Our designs are our plus point since they are on par with western brands. This is the right time for the growth of western wear market in India, but there is tough competition from international giants. Creating a brand in India is a tough task and advertising and marketing are some of the biggest challenges we face.’’

Nishant Sainani of Fritzberg spoke of the newer avenues emerging, ‘‘One of the opportunities that has opened up is digital technology, wherein not only the big brands but also the small labels can showcase themselves.