Product Talk at MAS | Episode 3 — Transcript

Full transcript

1. 0:03after I graduated from the University as
2. 0:05an engineer I had the privilege to start
3. 0:07as a management training at masas and I
4. 0:10have had the privilege to experience
5. 0:12wide you know scope of activities within
6. 0:14the organization I trained as an
7. 0:17engineer uh electrical and electronic I
8. 0:19joined masas in the year 2000 when masas
9. 0:22was predominantly a OEM our own design
10. 0:25and product development for the
11. 0:26organization and to offer it to our
12. 0:28customers having spent two decades and
13. 0:31now being considered generation 2.0 in
14. 0:33Mas I consider myself an a
15. 0:39specialist predominantly I would say
16. 0:42that you had a brand Le Market few
17. 0:44brands that were on the High Street that
18. 0:46really determined what was fashionable
19. 0:49and what we should be wearing subsequent
20. 0:51to that over the last few years it has
21. 0:53become much much easier for people to
22. 0:55come in and introduce their own Brands
23. 0:58predominantly Because the Internet and
24. 1:00and social media Etc that has allowed
25. 1:02newer Brands to come into the market
26. 1:04which are probably more Trend right and
27. 1:07More in line with what the consumer want
28. 1:09in the Fashion World things move pretty
29. 1:11fast so we have no option but to keep up
30. 1:13to the customer and in some cases lead
31. 1:15the customer you know we were partners
32. 1:17then we were co- collaborators and now
33. 1:20we are leaders in making our customers
34. 1:23understand what could win for them in
35. 1:24their Market we see a lot of Brands
36. 1:26coming and spending time with their
37. 1:28marketing leads they are Merchants they
38. 1:30are designers they product creators
39. 1:33because they want to harness the
40. 1:34collective intelligence and knowledge we
41. 1:40have if you talk about the last 20 to 30
42. 1:43years and talk about how product has
43. 1:45evolved people are happier to wear
44. 1:48clothing that is probably going to be
45. 1:50more functional things like gym wear Etc
46. 1:53that didn't exist in the past there's
47. 1:55sort of more ubiquitous pieces that are
48. 1:57coming in today we see a lot of
49. 1:59specification lot of Niche going from a
50. 2:01regular Sports fair today we call it
51. 2:04even a merger between few segments into
52. 2:06athia into performance Sports fair you
53. 2:09know America is our largest market
54. 2:11Europe not too far behind things changed
55. 2:14a lot in those two markets in terms of
56. 2:16how people reacted to product how fast
57. 2:19they bed product what they saw and what
58. 2:20they liked and we had to just dial up
59. 2:23our approach to cater to that
60. 2:27market there is a new influencer group
61. 2:29coming into the market with genz is
62. 2:31starting to purchase and I believe there
63. 2:34will be lot of Technology lot of
64. 2:36alternatives to the current products
65. 2:37that we have in place coming there will
66. 2:39be lot of value additions coming with
67. 2:41the help of technology and digitization
68. 2:43as well I would say more than the future
69. 2:46of product it's about the future of the
70. 2:48consumer consumers are evolving they are
71. 2:50more and more aware firstly about their
72. 2:53needs and they're looking for things
73. 2:55that are going to solve for their needs
74. 2:57secondly they also aware of the
75. 3:00environment and their values and beliefs
76. 3:02around how product is sourced how
77. 3:05product is made so you'll find all of
78. 3:07that coming together and they'll start
79. 3:09buying their clothes from sources that
80. 3:12are helping their conscience in the
81. 3:14first instances so sustainability how
82. 3:16you treat the planet how you Source
83. 3:18responsibly but in the fashion industry
84. 3:20there's no compromise for Price there's
85. 3:21no compromise for product there's no
86. 3:22compromise for functionality so if
87. 3:24you're not digitally enabled to be able
88. 3:26to create product to be able to source
89. 3:28to be able to manufacture to be able to
90. 3:30inspire and bring it very fast to the
91. 3:32customer you won't be in the game so
92. 3:34whilst product and the craftsmanship of
93. 3:37it is always elevated and focused in
94. 3:39masas these two aspects are equally
95. 3:41important and to be delivered in one
96. 3:43team I
97. 3:46think okay
98. 3:49[Music]