Bodyline ventures into new brands, more capacity
Mr. Dinesh De Silva
Apparel industry’s 30-year old Bodyline venture is today looking at increasing capacity in India and diversifying into new brands, having grown with resilience with its partners MAS and Victoria’s Secret.
Bodyline CEO Dinesh De Silva speaking with the Business Times on Bodyline’s 30th anniversary scheduled for November 16 stated that they will be expanding capacity in India, where they already have two facilities. Bodyline currently has three facilities in Sri Lanka and is operating as a single division of MAS Holdings.
“We will invest in capacity in India as that is part of our growth plan,” he said, noting that Bodyline sees more opportunities in the subcontinent where they want to market their products into and also use it as a base to export garments as well.
In India, Bodyline has targeted towards the intimate and sports bra segment with a keen eye for cotton as opposed to synthetic fabrics within this market, Mr. De Silva explained.
The US market is also important, but today the company is also serving the European, Asian and Indian customers.
Mr. De Silva explained that they are focused on a business model of marketing across an e-commerce platform.
“We plateaued in Sri Lanka, because 70 per cent of our capacity is here,” he said, noting that with the current economic crisis as well, they will be looking at building capacity outside Sri Lanka.
“We are a global company, but Sri Lankan centric,” Mr. De Silva said, adding that even during the pandemic, the company witnessed its future growth plans in identifying the need to balance capacities irrespective of whether they manufacture in Sri Lanka or outside. Outside the country, they hope to increase their capacity by about 30-40 per cent.
Given the current Sri Lankan economic crisis and the global slide in demand, brands have dropped their orders to countries like Sri Lanka.
He noted that brands are aware of the current economic climate in Sri Lanka and pointed out however that, “we never let down the brands.”
But brands are adopting a more cautionary approach with a destination like Sri Lanka and with the country’s capability of having a dual sourcing operation “if we need, we can move to India,” he explained.
Bodyline has faced a challenging three years during the global pandemic, and during this time, the company was engaged in safeguarding their people. But today brands are curtailing orders by about 10-15 per cent. “We want to keep it flat,” he said, adding their response to this situation is by maintaining their relationships with the brands and by resetting their bases internally.
“We are also building strong product creation capabilities and product development centres in India and Vancouver (Canada),” he said. In this respect, the company will be ensuring they stay competitive and prepared for the second half of this year and in the first half of 2023.
In terms of innovation, the company will look at a breakthrough innovation through a new brand femography, formerly known as FemTech @ MAS, in the feminine hygienic sector.
Further, there will be a new innovation in the sports bra segment and in the use of 3D technology and engaging in product processing to ensure sustainability and capability.
Bodyline has had a 10 per cent annual growth rate due to its focus on the customer, technology, human capital and process innovation but next year growth is likely to flatten.
With the changing economic landscape, Bodyline is currently seeing a natural attrition of 2 per cent, which is less than the industry average of 4 per cent.
Currently the company has implemented a freeze on recruitment for the last three months allowing natural attrition and is prepared if the need arises to close operations for about two days per month.
“The next 30 years is what we are looking at by creating value, inspiring positive culture and delighting customers,” he said.
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