Cambridge a family-owned business with over 60 years of experience and know-how in the men’s formal and business wear is creating niche in the segment with not only its unique designs, but also a premium look yet affordable prices. Prashant Bhatia is the third generation to carry forward the legacy of this family. With more than two decades of apparel retailing experience, Prashant has a flair for fashion and is leading the company to become influential in modern retailing. He is currently working on creating a seamless buying experience for all partners, right from the distributors, franchisees to the end customer using modern day technology.
Prashant’s belief that has extended to the brand is “to sell beautiful and affordable clothes that make people feel good about them”. He also aims to create a broader product line in the formal and business wear category, with a vision to evolve the range in the brand. With a monthly production capacity of 80,000 prices of shirt the company exports extensively to the Middle East, some Caribbean countries, and Africa. In the domestic market it is available in the states of Maharashtra, West Bengal, Jharkhand, Bihar, Gujarat, Karnataka.
The company is making complete range for men including business casuals, Traditional, Blazers & Suitings , Shirts, T-shirts, Jeans, Trousers and other essential accessories like cuff-links, handkerchiefs.
PS: How is the business going? Has it seen a slight slump due to GST?
Prashant: Business has been affected since demonetization and the introduction of GST. A lot of people have been adversely affected because of both of these and dispensable incomes have come down. This has had negative impact on sales.
PS: What is the strategy of growth for 2019 20?
Prashant: We are going to focus on growing our EBO count to 100 by the end of the next financial year. We will expand further into the regions where we are presently available. We will also create awareness of the brand in the digital media targeting the ages of 25 and above. We are simultaneously working on creating a seamless shopping experience for the consumer by merging the physical with the digital. It will be a premium experience providing excellent value to the consumer.
“We are reducing the number of SKUs we carry by about 20% and this will give us larger volumes and economies of scale in the remaining ones. We are focusing on the replenish model to bring down dependence on newer designs. This will again drive economies of scale since we will be repeating some classics all year round.”
PS: Cost of production is a critical factor today what steps have been taken by the company to reduce cost in different areas and how?
Prashant: We are reducing the number of SKUs we carry by about 20% and this will give us larger volumes and economies of scale in the remaining ones. We are focusing on the replenish model to bring down dependence on newer designs. This will again drive economies of scale since we will be repeating some classics all year round.
PS: What are the market trends for your product?
Prashant: Formals and business Casuals rule the fashion roster. Ethnic Wear is catching up too. Prints are in yet again with Checks and Plains balancing the rest of the portfolio.
PS: In the matter of technologies, how updated you are and what technologies are you gaining from? What in-house facilities you have?
Prashant: We have invested in building a platform that will allow our retailers to buy as and when they want from any corner of the country. We are also moving our internal ordering system to the same platform. We are focusing on reducing dependence on people reaching the customer and instead giving the customer complete access to our warehouse on his gadgets. We are using hi-tech machinery from best brands of the world for production of our product range.
PS: Where do you see garment and textile industry in the next five years?
Prashant: The number of players will shrink further and a lot of consolidation will happen within the garment brands. The retail formats will further evolve and technology will improve the way we do business. The smaller multi branded outlets will face more heat from the larger chains as they penetrate into the smaller towns of the country. There will be a limited number of Textile manufacturers who will cater to the needs of the complete industry. Value additions in the fabrics will be the only differentiator for brands.
PS: What is the current market scenario for retail in India?
Prashant: The organised retail market is almost 30% of the total trade. Online is about 15% and the rest is dominated by the unorganised segment. Everyone is focusing on the mid segment or the value segment as it is popularly known.
“Mohanlal Bhatia started India’s Shirt making company Cambridge , which believed in offering premium products with affordable prices. The name of the brand is Cambridge and in 2020 it has completed successfully 60 years. The company started selling their White Collared Shirt at a price of 99 /- and even now the same is available at this price.”
PS: What special expertise is required to manufacture shirts?
Prashant: There is no special expertise require to be honest. But it is the whole aesthetic look and the importance one gives to the finesse of the stitching that differentiates good shirt makers from the rest.
PS: What is the USP of shirts offered by your company and what is the price range?
Prashant: Our biggest strength is our ability to bring in premium fashion within the reach of the common man. We emulate the fashion trends brought in by the premium brands at prices that a larger audience can afford. Our pricing for cotton blended shirts start at RS.500 and that of 100% cotton shirts start at Rs.899.
PS: What type of fabrics are being used in your products?
Prashant: We use a wide variety of blended cotton, 100% Cotton and Linen blends.
