Anupam Singh knows a thing or two about these innovations and the evolution of the fashion industry. After all, he has over 22 years of experience in the fashion industry — he was the chief design officer at Future Lifestyle Fashion Limited and design director for India at Robert Graham.
Singh has now started Neometa, a global alliance of innovators and veterans in the fashion and retail segments. In a conversation with ET Digital, Singh, the founder & CEO of the company, talks about the future of retail and how to create visually stunning and commercially viable products. Edited excerpts:
Economic Times (ET): How did the idea of Neometa come about and when?
Anupam Singh (AS): The concept behind Neometa emerged from a desire to establish an apparel company that could cater to the evolving preferences of the next generation of consumers, departing from the traditional category-driven business model. Meta in our name signifies ‘multiverse explorers transcending ages.’ The co-founders include, Thomas Charles, Surendra Naik and Babu Mangatt. Neometa epitomises a global collaboration of creative and retail experts. With a collective experience of over three decades among the co-founders, we make up a formidable team poised to usher in the next era of brand storytelling and futuristic retail experiences.
ET: What is Neometa’s product or offering?
AS: Neometa operates as a ‘house of brands’, with a strategic vision that combines diversity and consumer-centricity. We have successfully launched our genderless brand, NoBiY (Non-Binary), and are currently in the process of introducing the iconic women’s jean brand Gloria Vanderbilt to the Indian market. Our aim is to position Gloria Vanderbilt Jeans as the foremost women’s jeans brand in India. Over the next two years, we intend to establish 12 brand outlets.
For NoBiY, our target audience is Generation X and Generation M, spanning individuals aged 14 to 28, effectively bridging the generational gap between Gen Z and Millennials. Our plan involves the creation of 500 NoBiY points of sale within the next five years. This expansion underscores our commitment to offering inclusive and fashionable choices to a wide range of consumers.
ET: What is the opportunity for such a product in a country like India?
AS: India presents a vast market for fashion with diverse sensibilities. It is projected to be a $350-billion apparel market by 2028, with immense scope for growth. We are collaborating with industry expert Thomas Charles Main to establish NoBiY as a global brand. Furthermore, we are redefining the Gloria Vanderbilt brand for the global stage, starting from India, with the guidance of fashion legend Mohan Murjani, known for his contribution in building Tommy Hilfiger.
ET: How did the founders initially fund the startup and what challenges did you face?
AS: Our startup was primarily funded through our own capital, supplemented by support from friends and family. Our most significant challenge was shifting away from a corporate mindset and building something organically.
ET: Why are fashion needs different today and how has these evolved over the years? What role does technology play when it comes to fashion and textiles?
AS: Fashion has become increasingly individualistic, with people seeking to express their unique styles and stand out. The era of hero worship is waning, giving rise to influencer-driven trends. Storytelling has become essential in product marketing, as consumers are more discerning and informed than ever before.
Anupam Singh, founder and CEO, Neometa.
We aim to merge fashion with technology as an enabler rather than using technology for its own sake. We use advanced technology in designing, backend systems, delivery processes and enhancing consumer experiences while preserving the essential human touch of artistry.
ET: How is technology improving the fashion industry, and what are the areas of concern? There is a huge focus on sustainability. Where is Neometa placed?
AS: Technology is enhancing efficiency in the fashion industry. While concerns about the social impact exist, they are offset by new opportunities. For example, a robot automating basic sewing tasks can free up individuals to pursue more advanced roles in fashion design. Technology enhances efficiency in manufacturing, streamlines supply chains, and improves customer experiences through innovations like virtual fitting rooms. However, environmental concerns, such as excessive waste and carbon emissions, remain significant challenges.
On sustainability, Neometa is committed to achieving plastic-free operation by 2028. We are developing an internal sustainability programme aimed at recycling products into alternative materials without exacerbating environmental damage by consuming additional resources. We integrate innovative materials, sustainable production methods, and have a commitment to recyclability.
ET: The company recently entered a partnership with the Murjani group for Gloria Vanderbilt. How has that partnership evolved? What is the thought behind launching NoBiy?
AS: We are relaunching the renowned US brand, Brand Gloria Vanderbilt jeans, with a distinct emphasis on designs crafted by women, for women. This signifies a significant moment in which a global brand is undergoing a transformative revival, with its creative reimagining and global reintroduction originating from India, for a worldwide audience.
NoBiY goes beyond being just a product – it is a brand with a story. We are building it like a series, where each product contributes to a larger narrative. For instance, if a consumer collects our series of tees over five years, they can arrange them to see the entire story strip come to life.
ET: What are the expansion and investment plans for the brands?
AS: Our immediate goal is to build a portfolio of our brands with a net sales target of Rs 500 crore in five years. Investments will be made in a synchronised manner as and when required. Neometa, along with potential brand acquisitions, aims for substantial growth while maintaining a focus on profitability. We believe that value creation will ultimately lead to higher valuation.
As a startup in its initial financial year, we are currently prioritising building a strong foundation. Revenue generation is not our primary focus at this stage. Our aim is to establish a robust company capable of withstanding market fluctuations.
