Interview with Mehvish Waliany – Chief Operating Officer – Alkaram

‘Our goal is to be the go-to brand for Pakistani women’ Mehvish Waliany leads Alkaram, one of Pakistan’s top apparel brands, as their Chief Operating Officer. She has over two decades of experience in the financial sector, focusing on infrastructure, project finance, and debt capital markets. She has held leadership roles at various financial institutions, including Head of Investment Banking at Bank Alfalah and Chief Investment Officer at InfraZamin. In her current role, she directs both long-term and short-term corporate initiatives, encompassing culture evolution, market expansion, product development, compensation philosophy, customer delivery channels, pricing framework, and business development. Additionally, she oversees the brand’s strategic and functional growth with a focus on data-driven decision-making.During her two-year tenure with Alkaram, she has achieved a 100 percent growth in company revenue, revamped key functions such as expanding the retail footprint, driving exponential e-commerce growth, adopting a digital-first marketing approach, and enhancing the supply chain. Under her leadership, the brand has recently embarked on an ambitious repositioning journey, promising comfort to its customers.In terms of education, Mehvish holds an MBA from the Institute of Business Administration and is a CFA charter holder.Following are the edited excerpts of a recent conversation BR Research had with her:BR Research: The fashion retail industry in Pakistan has seen significant changes over the last decade. From your perspective, what have been the most pivotal shifts in consumer behaviour and market trends during this period?Mehvish Waliany: The fashion retail industry in Pakistan has grown rapidly over the last decade, emerging as one of the fastest-growing sectors in the country. As per our research, the total market stands at Rs1.8 trillion, with the industry swiftly aligning with global trends. While unstitched fabric still dominates with 70 percent of the market, there is significant potential for further evolution. Women aged 18-40 constitute the largest segment of the target audience, and the demand for ready-to-wear is increasing rapidly. This shift reflects a broader trend towards casual, comfortable, and ready-to-wear clothing, moving away from formal attire. Fusion wear, blending traditional and Western styles, and shape shifting is particularly popular among younger consumers. As more women enter the workforce, the demand for stylish yet comfortable ready-to-wear clothing continues to rise, driven by the need for convenience.BRR: Digital penetration has played a crucial role in transforming consumer preferences and behavior. How has Alkaram adapted its business model to embrace digital transformation, and what impact has this had on your brand’s growth and customer engagement?MW: In recent years, we have made a conscious effort to become a data-driven company, implementing this approach across all functions. The rationale is straightforward: Numbers provide an accurate gauge of consumer demands, allowing us to respond effectively. The steady growth of online shopping in Pakistan has made our e-commerce channel vital to our business, experiencing 130% annual growth and extending our reach both nationally and internationally. We are investing heavily in enhancing our e-commerce platform to meet international standards and leveraging social media to create engaging content that connects with our customers in real time. We feel this is also very important because the fashion industry globally has now shifted away from seasonal collections to more frequent collections produced in small batches to cater to micro-trends. In terms of marketing, we have now shifted towards a digital-first approach which is treated as an ‘always on’ session to retain top-of-mind awareness among out target audience, whereas offline marketing is now more of a ‘nice to have’ tactic for specific campaigns.BRR: With the rapid growth of e-commerce, how has Alkaram developed its online presence, both through direct channels and multi-brand e-tailers/marketplaces? Could you share some insights into the strategies that have worked well for you in this area?MW: We began revamping our e-commerce presence about two years ago, recognizing its immense potential for brand expansion, especially across Pakistan. This strategic move was timely, given that e-commerce operates differently from traditional retail, and the investments we made then are now yielding significant results.Customers often prefer ordering online from our website, especially if they have seen an item in a retail outlet but couldn’t find it in their size or during sales when physical stores become too crowded. Our e-commerce platform also effectively reaches international customers, with our most popular markets being the USA Canada, and the UK. By aligning our online strategies with consumer behavior and preferences, we’ve been able to create a seamless and trustworthy shopping experience, further solidifying our position in the market.BRR: How does Alkaram stay ahead in understanding and catering to these evolving needs? What role do customer feedback and market research play in your product development process?MW: Alkaram is in a very exciting phase right now. While we have a loyal customer base that trusts us for our consistent quality, there is an emerging younger generation with significant spending power. To find the right balance between their preferences and our legacy and brand ethos, we rely heavily on customer feedback and market research. Our findings often surprise us, as many perceptions are formed based on a small, metro-heavy segment active on social media. However, Pakistan is a large and diverse market, making it essential to understand on-ground realities, especially when operating on a large scale. Our recent brand revamping exercise spanned several months and involved extensive research across various functions. In our research, we discovered that 77 percent of our consumers fall within the age range of 18-40. With“comfort“ established as our unique selling proposition, it wasn’t just a buzzword but a principle that will be reflected in all aspects of our business, both internally and externally, as we undertake this journey. Our new design philosophy emphasizes unique, flexible pieces with one print being styled in various silhouettes that customers can personalize to their taste and style preferences while ensuring comfort. This commitment ensures that we remain true to our values of understanding fabric and offering its functionality under the ethos of comfort for our customers.BRR: Every industry faces its set of challenges and opportunities, especially in times of rapid change. What do you see as the biggest challenges and opportunities for Alkaram in the current market landscape?MW: Every industry faces challenges and opportunities, especially during times of rapid change. For Alkaram, a significant challenge is keeping up with changing trends, customer preferences, and also customers shrinking budgets which also present an opportunity to innovate and meet customer demands. Competition is another challenge, driving us to improve and differentiate ourselves. A major opportunity lies in e-commerce, with online sales projected to reach Rs40 billion by 2025, and we are focusing on riding this wave. However, limited digital and logistics infrastructure remains a challenge, though we believe it will improve over time with contributions from all stakeholders. Additionally, our user base is evolving, with younger buyers having different preferences, which all our functions are addressing.BRR: Global trends often influence local markets, but adaptation is key to relevance and success. How does Alkaram identify and integrate global fashion and retail trends into its offerings while ensuring they resonate with the unique tastes and cultural preferences of the Pakistani consumer?MW: While global trends are a great source of inspiration, we firmly believe that Pakistan is a unique market, and staying true to our roots and addressing local consumer needs is critical. Inclusivity, for example, is gaining popularity in Western markets, but it has been a longstanding issue for female consumers in Pakistan. Our Design department keeps themselves regularly updated about international trends forecasts and takes inspiration in areas such as cuts, colors, and silhouettes, which are then adapted to our Eastern or Fusion wearOur goal is to be the go-to brand for Pakistani women and create designs that cater to different body types, all skin tones, and personal styles and make them feel good in all stages of their personal journey; all while respecting their unique cultural values and providing comfort and style simultaneously for everyone.BRR: How has inflation impacted your consumers in Pakistan, and what strategies has Alkaram employed to mitigate these effects while ensuring the brand remains accessible and appealing to its target audience?MW: The ongoing inflation has definitely impacted a segment of our audience; however, beauty and fashion are generally considered recession-proof industries globally and we see similar buying patterns among our consumers. As we have a fast-growing middle class, there are still consumers who are willing to pay a higher price for premium quality and designs. We aspire to be a brand that appeals to consumers across different classes and segments, for which we ensure that we meet the budgets of all our customers by offering collections at various price points. Our lowest priced collection is ‘Silver’ which offers unstitched 1-piece and 2-piece suits and ‘Express’ which is 1-piece ready to wear. This way, everyone can find something within their budget at our stores.Furthermore, we have adopted a more fluid approach by allowing customers to make their own decisions with individual pieces sold independently or through pairing. This flexibility means they are not forced to buy a three-piece suit and can instead mix and match according to their preferences. This approach not only caters to budget-conscious consumers but also provides greater freedom and personalization in their fashion choices, enhancing their overall shopping experience.BRR: What is the long-term vision for Alkaram in the evolving fashion landscape of Pakistan and globally? How do you see the brand growing and adapting in the next decade?MW: In the next decade, we envision Alkaram becoming a leading fashion brand in the region, synonymous with comfort, quality, and inclusivity. We plan to achieve this by leveraging the export experience and heritage of our parent company, Alkaram Textile Mills while embracing innovation and technology to meet the evolving needs of our customers.We are passionate about reviving the beautiful, yet often overlooked, crafts of local artisans. Traditional hand-made clothes can be expensive and difficult to produce at scale. By integrating their skills with specialized technology, we can produce these intricate designs more cost-efficiently, making them accessible to a wider audience. This approach not only preserves our rich cultural heritage but also empowers local artisans, allowing consumers to wear unique, culturally significant designs with pride.We will expand our e-commerce presence, both locally and internationally, to cater to the growing demand for online shopping. Additionally, to expand our reach across Pakistan and beyond, we will be betting on introducing high-quality albeit mid-sized experience stores to enhance customer experience and ensure a wider reach.