Bhartiya International Ltd Management Discussions.
Bhartiya International started as a leather outerwear company and has now evolved into a global conglomerate. It currently operates five major businesses: Leather Garments, Textile Outerwear, Fashion Accessories, Finished Leather and Virtual Manufacturing. It is a vertically integrated company supported by the state of the art Tannery.
Bhartiya Fashion is known for latest designs with design and sampling facilities at Global fashion hub Milan, Hangzhou Gurugram, Chennai, and Bengaluru. Bhartiya has manufacturing operations in India Bangladesh, and China Quality production, short lead times and sustainability are few of key drivers of the business and is led by experienced industry leaders in all businesses.
Bhartiya has a strong leadership team from around the globe. Business is run professionally with each division having its own Business Head and dedicated supporting team.
We are the largest leather garment manufacturer in India and continue to grow even bigger. This year, the key focus has been on sustainability and new product development. Our manufacturing units are following strict guidelines for sustainability and compliance requirements.
Design teams continue to innovate new products: leather skirts, shearling jackets and leather pants. Dedicated merchandizing teams, sampling facility, production lines and factories have been established for best brands and high-street retailers for many years. There is a dedicated effort to modernize the existing production facility with latest technology machines and techniques. The manufacturing facilities are in Bengaluru and design offices in Gurugram and Milan.
With a vision of producing high quality leather and non-leather accessories in India, our accessories business has grown in past years. This year, the accessories business is expected to be a major contributor to the total revenue, as the business is able to capture some world class high fashion bag retailers as customers. The business is focused on design led quality products. In this respect, we have launched a dedicated world-class sampling and product development facility. There is constant effort towards skill enhancement of workers to produce high quality product which is even better than product made by Europe manufacturing entities. We have added manufacturing specialist in the existing team to achieve better efficiency and quality.
Textile Outerwear business is able to make its mark and now there are global brands which are working with the division on sustainable model. We are in the process of enhancing the existing manufacturing capability by investing in highly skilled people. The business is producing the highest quality products for global customers. Capitalizing on our leather relationship with global brands, the business is expanding rapidly.
The business has specialized designers in Milan and Bengaluru.
We have access to the latest trend in the fashion market and our international designers continue to surprise our customers with their excellent designs.
Bhartiya has a dedicated leather tannery in Chennai, which can process 15,000 skins each day. This upstream integration enables Bhartiya to create new finishes and fashions in leather. This facility has multiplied its capacity to serve as the hub for leather sourcing and finishing. A dedicated Italian designer works on developing new leathers and organizes two leather collections per year. The research and development team develop new styles of leathers using most sustainable ways and using eco-friendly chemicals.
The raw materials, including hides and skins, are sourced from New Zealand, the United Kingdom, Spain, France and Italy, as well as goat and sheep skins sourced from the Middle East and Latin America. The tannery is an LWG certified tannery.
Virtual Manufacturing, our sourcing business, is the fastest growing among the group. It is driven from Delhi and Milan. Delhi focuses on ladies soft woven and Milan focuses on outerwear, predominantly sourcing from China. The business is design driven, has world-class design studios in Milan and Gurugram with a team of young designers from all over the world and is expanding our sourcing capabilities.
The Milan office is a major contributor to Virtual Manufacturing and continues to grow. New product categories were added this year, including denim garments for European and US markets. It has also partnered with more facilitators in Europe to grow the business. The current categories are PU and textile outerwear, ladies soft woven, kids wear, denim and chinos, etc.
Bhartiya Group has been weaving the best practices into its culture to help employees develop themselves which in turn leads to increased business efficiency and turnover. Bhartiya impresses upon the need for employee engagement at all levels and invest working towards it by introducing the importance of continuous communication with people which revolves around their individual performance and also mutually working on the expectations of the management in terms of their performance and then giving them regular feedbacks which goes a long way in having a congenial work environment We, at Bhartiya believe in open and transparent culture which helps in sharing ideas, unlearn and re-leam from each other without any hierarchical obstacles. Since innovation is one of the core value of our organization, an open culture gives our employees, wings to soar up their thought process.
In the wake of the technological advancement Bhartiya has restored the "H" from Human Resources and continuously work towards keeping the human element in its day-to-day working, together with embracing the technology which work wonders in dealing with business complexities and keeping up with the business challenges. The reason of our strong relationship with our customers is because of our belief in our people as they are the ones who lead &. are responsible for incessant innovation which gets reflected in our products.
At Bhartiya, we lead the change through our vital assets - Our People and will continue to seek success.
The Company has made process which identifies, assesses and manages risk at Strategic, Operational and Compliance levels, across business units, functions and geographies. The board of directors are informed about the risks or opportunities that could have an adverse impact on the Companys operations or to that could be exploited to maximize the gains. The processes and procedures are in place to act in a time bound manner to manage the risks or opportunities. The risk management process is reviewed and evaluated by the board of directors. Bhartiya Intemationals exposure to foreign currency risk is restricted to its imports and exports. These risks are minimized through well-thought-out financial operations, astute treasury management and effective use of hedge options.
All the statements and assertions in this report regarding the projections, estimates and outlook are subject to current market situations and expected effects of future events on current and developing circumstances. Results may vary due to a number of factors, which could effect the Companys business operations, such as demand and supply conditions, price inputs, change in government levies and regulations, industrial relations and other economic variables in the country. Bhartiya International cannot be held responsible in any way for such statements and it undertakes no obligations to publicly update these to reflect subsequent events or circumstances.