Welcome to our second webinar series where we discuss changes in the industry and how we can incorporate it into the fashion business. Today our guest speaker, Mr. Malik Ahamadeen shares his take on the industry and how it has changed significantly in Colombo.
Mr. Malik Ahamadeen started his career in 2005 as a General Manager at Synergy. Then he later worked as the Business Director for Nike at MAS, became the Chief Marketing Officer for MS Active in 2015, and now he’s the Chief Strategy Officer for MS Holdings and the Country Lead for India.
Here’s what he mentioned in their discussion:
They talked about the use of materials like fruit and tree waste that can decompose in about four months, much faster than plastic bottles that can last up to 400 years. In fact, clothes with synthetic parts will eventually break down.
“This change is important because it makes the fashion industry aware of how to be more eco-friendly” says Mr. Malik. They also mentioned a trend where people repair and resell clothes. Cities like Paris have more shops specializing in fixing and selling nearly-new clothes; and this trend seems to have a growing interest among consumers.
They also spoke about the do’s and don’ts of starting a fashion brand. From finding a niche in the market to creating a unique style. Getting support from celebrities helps attract more attention to your brand. He also emphasized the importance of sustainability by providing good service as your business grows.
They further discussed how fashion might change in the next 3-4 years, especially in Sri Lanka. “Despite its size, Sri Lanka has great potential.” says Mr. Malik. Entrepreneurs were advised to open their main stores in big cities like Colombo, Kandy, and Galle, and to sell products online to reach more customers.
He also brought up the significant growth of entrepreneurship in Sri Lanka due to fewer imports. “Local brands can succeed by creating products that fit the budgets of Sri Lankans.” Here he also mentions that Sri Lankans use tourism to make shopping more enjoyable. Traditional clothes, sportswear, and new fabrics can attract both local shoppers and tourists looking for authentic Sri Lankan souvenirs to take back home.
The argument of whether it is profitable to target wealthy customers in Colombo with high-priced items or a broader audience with more affordable options was also discussed. While both strategies have its own benefits depending on the brand’s reputation and target market. “Luxury brands have remained popular despite economic downturns, as people continue to value luxury items as symbols of wealth and success” said Mr. Malik.
He also mentioned how cultural changes are influencing fashion trends globally. Styles like the Abaya and athleisure are gaining popularity, and more people are opting for casual workwear due to remote work arrangements.
Technology’s role in fashion was highlighted as well. As it helps companies predict customer demand and manage inventory efficiently. Many digital tools also streamline the design process, producing more innovation in the industry.
For handloom product makers, finding the right export markets was emphasised as crucial. Handloom products, valued for their traditional craftsmanship, appeal to consumers worldwide. Organisations like the EDB can assist in showcasing these products internationally, helping them reach a global audience.
Whether you’re just starting out in design, aiming to start your own business, or thinking about growing your manufacturing for exports, I hope you found today’s tips helpful. Thank you for letting us share our knowledge with you. Keep in touch with us as we work on shaping the future of fashion around the world. Visit our website to experience the pleasure of online shopping in Sri Lanka
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