The past year has been an eventful challenging and pivotal one for Indian Terrain andthe retail industry at large. While India's macro economic indicators remain strong asever and the move to a larger consumption economy continues there continue to remainspecific challenges and opportunities in the evolving retail and apparel market.
With widening digital media reach even the smallest towns in the country now haveaccess to real time content from around the world and this is driving aspiration andintent to purchase. An ever-growing young demographic augurs well for the future ofretail. India is becoming more entrepreneurial with every fourth young individual comingout of college dreaming of becoming an employment giver. This along with the trend of thecasualisation in the workplace presents a strong and sustainable future market for IndianTerrain. As a specialist of the smart casuals genre and with our unique offerings we arepoised to capture this growing trend in the years to come.
Another significant trend is the emergence of the rapidly growing branded kids wearsegment and here too your company is well poised with its offering in Indian TerrainBoys. In the past year a series of changes to the product price and positioning hasdriven rapid growth in this category and we are very excited for what the future holds.
During the past year I had said that the business models of the past will need tochange and in line with that we have made a pivot to a more retail-centricdirect-to-consumer approach driven by Exclusive and Controlled Retail formats across thetown classes and a strong push into E Commerce. With data and digitisation driving the waybusiness will be conducted this change will continue in the coming years and willposition us well for quicker responses and capture emerging trends.
The retail industry faces challenges of unabated discounts and constant value seeing byconsumers and in such a world product differentiation constant newness and brandsalience will be what matters. It is towards this goal that we are increasing ourinvestments in Brand Building Mass Media Marketing Digital and Social Media adoption andConsumer Engagement. The recent endorsement of the brand by M.S. Dhoni is a big step inthat direction and his personality encapsulates in one phrase what Indian Terrain standsfor - The Spirit of Man.
I also want to touch upon the aspect of the Share Pledge which I had mentioned lastyear. We have been in continuous engagement with the bank and I am encouraged to say thatdespite the challenging external environment which you are all aware of we are closer toresolving the same.
With a strong and stable government in place for the next five years and increasingyearning for aspiration expressed through clothing we are poised well. The coming yearwill continue to see our focus on preparing ourselves for that future with a thrust onretail expansion into the hinterland expansion of our existing segments and foray intoallied ones like accessories strengthening our E Commerce and becoming more agile onSupply Chain.
Finally I must say that I am privileged to have so many talented and passionate peoplewith me on this journey. Every day they strive to deliver our motto: Making clothes ofelegant style and remarkable comfort that Makes You Feel Good.
You our shareholders have reposed your faith and trust in us and I immensely thank youfor your support guidance and insights in the many interactions we have had.
Executive Chairman and Whole Time Director