In this episode of Serai Spotlight, we talked with Pulkit Seth, the Vice Chairman of Pearl Global, about maintaining trust and transparency with retailers globally. A full transcript follows.
Pulkit Seth: It's a pleasure to be talking about Pearl today. So you know, Pearl today is a multi-country, multi-product supplier. It’s a very strong foundation that we have to service the fashion industry. We are one of the only companies out of the Indian subcontinent with a presence across Southeast Asia and the Indian subcontinent today. A major advantage which we bring to the retailers is the concept of a one stop shop.
Pulkit Seth: Ultimately, with clothing, people want to have the opportunity to wear the latest trends, the latest product, the latest fashion that is out there. So with that in mind, and with that intent, we've set up offices in the USA, in the UK, in Spain, in Hong Kong. We have design staff there, who are completely focused on bringing new products, new innovations, whether it's fabric innovation, or silhouette innovation, and, you know, new techniques to the customers. The other thing where, which is a big advantage is to have our design staff and design talent at the doorstep of the retailer.
Pulkit Seth: We took a decision five years ago that anything we do, as an organisation, we have to focus on sustainability. And, you know, that can be sustainability in the raw materials we buy, or the infrastructure that we set up, or, you know, whatever we do in the manufacturing process. Also, we put solar panels in all our new factories. The purchase of raw materials, I think it's now very good. It's catching up very fast as all other retailers also want to buy, you know, sustainable, raw materials. So, almost close to 55-60% of our raw material is now from a sustainable background. And we are towards being at 80%, and, you know, maybe even 100% in the next two to three years. As well as anything we do, in terms of, you know, the manufacturing process, whether it's in the laundries or on the factory floor, we are very mindful of, you know, what is the latest technology available, and we look at adopting that technology.
Pulkit Seth: I would say it’s very important for manufacturers to make sure that whoever you are working with is, on the other end, credit worthy. You know, do a credit check. So I think that's where a lot of companies have got stuck in the recent past.
Pulkit Seth: So, you know, if you want to do business, you have to have trust and transparency, I would say. Fortunately, we only work with groups that work with direct retailers on national brands. They are the more well trusted names, with a lot of goodwill and they also are very transparent themselves and also expect a lot of transparency from us. Everywhere, when we start with a new retailer, we make sure it's someone we can work with in the long term, someone, we, you know, see the relationship moving forward for decades. And then we also try to exhibit to them that they can trust us 100%, and that we are going to be transparent with them. So it's a you know, two way road and very important for any business, I would say.
Pulkit Seth:I see a good future for the industry going forward. And like I was mentioning, everyone's, you know, very focused towards doing the right thing. You know, there'd be, you know, sustainability or socially, and, you know, and the fashion industry, I think is a big support industry in Asia, it helps to, you know, give employment to huge number of people, lot of dependents, you know, on the industries, therefore, many people, so, I feel optimistic, in the, in the sense that, well, whoever's, you know, into it is now going to be there for the long term going to flourish and, you know, going to do well.
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