Vedant Fashion, that owns ethnic brand Manyavar, an apparel brand that mainly thrives on Indian cultural celebrations and festivities has quietly overtaken its global peers. It has posted a net profit of Rs90 crore, higher than most profitable apparel brands and department store chains.
Known as a leading ethnic wear brand in India, Manyavar has been moving ahead of the game by growing at a rapid pace with more than 400 stores across the country attributing it to a host of factors, from cost efficient, proper inventory management, its strict pricing policy, aggressive retail planning and now getting its clothes as an everyday wear brand instead of just weddings and social functions.
Team Ginesys is glad to be providing the software for their manufacturing, distribution and retail operations. We wish them all the best in their endeavors.
Ginesys got featured in Silicon India Magazine as the Top POS Solution Provider. The article highlighted on the need to invest in the best retail Point of Sales (POS) software by retailers to keep complete track of their business with the increasing growth of the retail and it emphasized on how Ginesys, providing efficient ERP and POS software to retails for than 15 years, stands out with its cutting edge retail ERP system which instead of having different ERP modules has a single software that carries out both ERP and POS functions seamlessly.
The article also outlined the features of Ginesys as a complete, comprehensive, integrated, robust and scalable and update-driven solution for retail value chain offering a complete range of services ranging from procurement, to production, Inventory, sales & distribution, Retail Management, Point of Sales, Data Analytics, Automated notification, Finance and Accounts and e-commerce integration.
With a strong customer base of more than 500 brands such as Mufti, Manyavar, Being Human, VMart, Soch and many more, Ginesys is now working to keep its products up-to-date to meet the expectations of the ever-changing and dynamic retail industry.
Tax structure for indirect taxes in India has remained complex with a combination of state and centre level taxes and compliance rules. The complexity slowed down business due to requirements of multiple forms in various formats required for movement of goods within the country. Checking compliance was also naturally difficult hence leaving room for tax avoidance. Long term reforms had proposed a single tax known as Goods and Services Tax (GST) applicable uniformly based on the value. GST will be a single Indirect tax for the whole nation, which will make India one unified common market. Each stage would then be taxed only on added value.
Now the GST bill is passed it will be implemented into the systems on 1st April 2017.It shall come into force on such date as the Central or a State Government may, by notification in the Official Gazette, appoint in this behalf. While each State GST Act would extend to the relevant State, the Central GST Act extends to the whole of India and includes Jammu & Kashmir (‘J&K’).
Being a major mover of goods retail industry will have a major impact through GST implementation and we feel that the overall impact will be positive as it will reduce current artificial constraints on business domicile and movement of inventory. The manufacturer will be able to reach more consumers through distributors and stores across India with ease of calculating and reporting of taxes.
We at Ginesys are fine-tuning our Retail ERP and POS systems with a vision to simplify and make the process of adoption of GST as simple as we can. Through these blog posts you will be able to get an inside view into how we are working this subject.
The 63rd National Garment Fair organized by the Clothing Manufacturers Association of India (CMAI) from July 13th to 15th, 2016 at the Bombay Exhibition Centre in Mumbai ended up with an orders bonanza for Manufacturers of apparel industry.
The garment fair which is usually in exhibition mode was generating sales too for the exhibitors showing the sheer resilience of this industry in general. This edition could be qualified as India’s largest ever garment fair with 800 brands on display and 4000+ retailers visiting.
Team Ginesys felt welcomed at CMAI as we had a good footfall at our stall of garment manufacturers and retailers enquiring about our product suite including production and retail point of sales. A lot of the enquiries were for a full retail ERP. Here are a few pics from the apparel fair:
The IT Capital of Bengaluru being a magnet for fashion and lifestyle has attracted Ginesys’ attention too. We are setting up a business unit in HSR layout and we welcome you to drop in for quick chat over a cup of filter coffee or hot tea. It could be about fashion, grocery, retail software, POS, technology, mobile or anything else.
We hope to make Bengaulru as a base for expanding further in the south.