Indian businesswoman Sima Ganwani Ved is the Founder and Chairwoman of the Apparel Group, an international retailer based in the Middle East headquartered in the UAE. Recently, Ved was at the 6th Annual India Global Forum in London where she spoke about the world of retail, leadership and business success.
In the fireside chat, Ved shared her journey and insights on leading a multinational retail businesses. The discussion, hosted by Vikram Chandra, shed light on the group’s expansive operations, growth strategies, and the evolving retail landscape, particularly in India and the Gulf region.
Outlining the impressive scale of the Apparel Group, Ved said: “We have 85 plus brands, 2,200 stores, 22,000 employees, and our presence is in 14 countries.”
Established in 1996 in the UAE, the group initially focused on the GCC but has since expanded into Asia, including a significant footprint in India with 250 stores. The company’s portfolio includes prominent brands such as Victoria's Secret, Bath & Body Works, Aldo, Nine West, Tommy Hilfiger, and Calvin Klein.
Ved further highlighted the growing consumer market in India, despite its lower per capita income compared to the GCC.
“India adds 26 million babies a year – that's the size of Australia. Our own company has seen a 48 per cent growth from last year just in retail,” she noted.
This demographic growth presents substantial opportunities for value fashion, beauty, and retail brands.
Reflecting on the business landscape, Ved emphasised the critical role of Dubai in the Apparel Group’s success.
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“I don't think we would have been the company had we not been based in Dubai. The leadership there just makes it so easy to not just do business, but also to understand that going forward means you have to think big,” she stated.
Dubai’s strategic vision and infrastructure have positioned it as a global retail hub, fostering an environment where businesses can thrive.
Ved’s entrepreneurial journey is both inspiring and instructive. She recounted her early days, starting the business with a modest capital obtained by selling her wedding gold.
“It’s been quite a journey, but the most important milestones were identifying the gap in the market for international brands and pivoting during Covid-19,” she shared.
The pandemic accelerated their digital transformation, achieving what would have taken three years in just three months.
The Apparel Group's pivot to e-commerce has been significant. Their platform, Sixth Street, now holds the largest inventory of bags and shoes in the region, making them a truly omnichannel retailer. “We are now able to truly call ourselves omnichannel. It’s no longer that we’re just retail or just online. Our customers love that because they are so savvy now,” Ved explained.
Discussing the franchise model, Ved detailed the various approaches they take, including royalty-based franchises, licensing, and joint ventures. “We are agile and flexible. It doesn’t matter as long as we know there is a gap in the market for that brand, we’re ready to take it on,” she said.
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Ved also touched on the cultural nuances of doing business across different regions, particularly in Saudi Arabia, which she described as “Dubai 20 years ago, but on steroids.” She praised the recent economic reforms and the increasing involvement of female entrepreneurs in the region.
Looking ahead, Ved identified Saudi Arabia and India as the primary focus for growth. “India and Saudi are where I see the potential for massive amounts of growth,” she remarked.
The company is excited about the infrastructure developments and economic reforms in India, which are making the market more accessible and business-friendly.
In concluding the conversation, Ved offered valuable advice for aspiring business leaders. “Be disruptive. Think big. If you have the idea, the money will come,” she advised.
*Info: India Global Forum