The discussion explored how leading fashion brands are leveraging collaboration to strengthen operations, enhance consumer engagement, and drive growth…
The fashion retail industry is undergoing a major transformation, driven by evolving consumer behaviour, digitalisation, discounting trends, supply chain complexities, and growing sustainability demands.
In this rapidly changing landscape, businesses must re-think, re-imagine, and re-model their strategies to stay competitive. One of the most powerful ways to achieve this is through collaboration across the entire value chain.
At the India Fashion Forum 2025, a high-impact session titled ‘Collaborate to Thrive’ brought together some of the most influential leaders in the industry to discuss the role of partnerships in driving success.
Moderated by Vishak Kumar, CEO, Madura Fashion & Lifestyle and ABFRL, the panel featured esteemed speakers:
- Akhilesh Prasad, President & CEO, Fashion & Lifestyle Business, Reliance Retail
- Shailesh Chaturvedi, MD & CEO, Arvind Fashions
- Venu Nair, Chief of Strategic Partnerships & Omnichannel, Myntra Fashion
The discussion explored how leading fashion brands are leveraging collaboration to strengthen operations, enhance consumer engagement, and drive growth. Panellists shared insights on what the industry is doing well and how working together can unlock new opportunities for brands, retailers, and stakeholders alike.
“Over the years, the industry has made significant progress, and if there were an index tracking market capitalisation, valuation, or enterprise value, a comparison from 20 years ago to today would show a remarkable upward trajectory. When an industry thrives, it naturally attracts major business groups and investors who recognise its strong growth potential and find it an appealing sector to invest in,” said Shailesh Chaturvedi, MD & CEO, Arvind Fashions.
“As an industry, we have continuously enhanced the customer experience across all touchpoints. From improving in-store quality to enabling seamless 24/7 shopping through digital platforms, we have come a long way. Today, customers not only enjoy greater accessibility but also benefit from rapid delivery, sometimes within just 30 minutes. Additionally, the availability of the latest fashion and trends has evolved significantly— what once followed, a biannual cycle now operates on a weekly, fortnightly, or monthly basis. This constant evolution ensures that Indian consumers have access to global fashion trends in real time, further elevating their shopping experience,” said Venu Nair, Chief of Strategic Partnerships & Omnichannel, Myntra Fashion.
Akhilesh Prasad, President & CEO, Fashion & Lifestyle Business, Reliance Retail emphasised on fashion being affordable as the biggest change. “One of the most significant transformations in India’s fashion industry has been making fashion affordable for all. This movement has not only driven demand but also improved consumers’ quality of life. Over the years, we have evolved along the lines of convenience and accessibility—today, a salwar-kurta-dupatta set is more affordable than it was a decade ago. However, while fashion has expanded, it remains concentrated in urban areas, with over 60% of India’s population in villages still underserved. The next challenge is making fashion accessible in smaller markets, where offline retail will continue to lead. Embracing change and fostering innovation through collaboration will be key to shaping the future,” he stated.
Transformational Change Needed for the Industry
When asked what one change the experts would want to see for the industry going forward, Chaturvedi said, “There’s a lot to look forward to in terms of business metrics—sales, margins, cost efficiencies, and capital optimisation. However, one major area for improvement is managing returns from the market. Supplying goods only to have a percentage come back from stores, department stores, MBO counters, or online platforms creates inefficiencies. It ties up capital, leads to inventory devaluation, and adds costs in refinishing and transportation. Every week of delay can mean a 1% loss in realisation. If we could reduce or eliminate this challenge, it would significantly improve industry efficiency and profitability.”
Nair agreed and gave credit to the developing infrastructure of the industry. “Infrastructure has improved significantly, but there’s still room for growth. Technology has helped overcome challenges across logistics, supply chains, and customer experience. However, infrastructure must keep pace with industry needs. Businesses must continue investing in this area to drive efficiency and growth, ensuring seamless operations and enhanced customer experiences,” he stated.
“Automation and technology are solving challenges we couldn’t have imagined a decade ago. The rise of 4G and 5G has transformed e-commerce, making fashion more accessible. Earlier, consumers relied on office deliveries due to a lack of broadband at home. Today, innovations like virtual avatars for try-ons address fit and color discrepancies, reducing returns. Technology will continue to drive exponential growth, constantly pushing the industry forward,” said Prasad.
Collaboration Amidst Competition
When asked how can competing brands—vying for space, market share, and consumer spending—work together to drive mutual growth and industry-wide progress while fostering collaboration despite competition?
Venu said, “Collaboration is already a part of our industry—it happens as needed, depending on the occasion and instance. Throughout my career, I’ve worked alongside competitors for the greater good of the business. One key area where collaboration is crucial is talent development. As an industry, we constantly face a shortage of skilled professionals. Partnering with retail institutes and colleges to create specialised courses could benefit everyone, yet we often approach it individually rather than collectively. Industry-wide collaboration here would be truly impactful.”
Akhilesh Prasad disagreed and said, “Collaboration is complex because knowledge is developed at a cost, and sharing it freely isn’t always practical unless there’s a clear benefit. Open forums for idea exchange can inspire innovation, but true value in a capitalist market comes from competition.”
“While collaboration can help in specific areas, like optimising logistics across divisions, the best outcomes arise from competition—ensuring customers get the best products and services. Too much collaboration risks stifling the very competition that drives progress,” he added further.
“True collaboration shines in times of crisis, as we saw during COVID when the industry came together to solve challenges like rent and supply chain issues. However, the real opportunity lies in fostering this spirit even in good times. By strengthening partnerships beyond necessity, we can drive greater innovation, efficiency, and growth— ensuring that collaboration isn’t just a survival strategy but a long-term advantage for the entire industry,” concluded Kumar.
