opened. We rely on focus groups and surveys with select customers and retail staff to enable feedback. We
periodically undertake promotional activities to create awareness

Information Technology

Investment in IT infrastructure is essential to improve our operational efficiencies, improve scale and enhance
productivity. We continue to focus on building and improving our IT capabilities. We have implemented an ERP
solution, which helps standardize our processes and supplies tools necessary for our management team in aspects of
better sales planning, performance, longevity, collecting information on real-time basis and enhancing profitability.
The solution is designed to help us in the planning and management of our sourcing and manufacturing operations
and to assist in the smooth functioning of finance, sales, stores, purchase, inventory and payroll functions. Our point
of sale tracking system allows us to gain deeper insights and operational data in a timely manner. See “Risk Factors
— Significant disruptions of information technology systems or breaches of data security could adversely affect our
business.” on page 45.

Insurance

Our operations are subject to hazards inherent in storing and transporting our products such as work accidents,
fire, earthquakes, flood and other force majeure events, acts of terrorism and explosions, including hazards that
may cause loss of life and severe damage to and the destruction of property and inventory. Our principal types of
insurance coverage includes coverage for all normal risks associated with our business, including fire, burglary,
money, accidents and other natural disasters. We typically maintain standard fire, burglary and money policies
for our fixed assets and stock of stores and warehouses, to cover risks such as fire and other ancillary perils. We
also obtain insurance for transit of goods including sales, purchases, stock transfers and raw material supplied by
us to our job workers. We also have several marine policies, director and officer liability insurance policy, public
liability policy and a group mediclaim policy and group personal accident policy for our employees. In addition,
we maintain cyber security, commercial crime and commercial general liability insurance. These insurance
policies are generally valid for a year and are renewed annually. In our experience, the amount of insurance
currently maintained by us represents an appropriate level of coverage required to insure our business and
operations, and is in accordance with industry standards in India. See “Risk Factors — An inability to maintain
adequate insurance cover to protect us from material adverse incidents in connection with our business may
adversely affect our operations and profitability.” on page 46.

Competition

The Indian women’s apparel industry, particularly for ethnic and non-western apparel, is highly fragmented with
several regional brands and retailers present in local markets across the country. Our products compete with local
retailers, non-branded products, economy brands and products of other established brands. According to the
Technopak Report, the branded womenswear segment in India is dominated by certain large national and regional
players like TCNS (with brands such as W, Aurelia, Elleven, and Wishful), BIBA, Global Desi, AND, H&M, Zara,
M&S, Fabindia, Soch and Twin Birds (Source: Technopak Report). We also face competition from private in-house
label brands launched by large format stores and online only fashion brands. See “Risk Factors — Our industry is
competitive and our inability to compete effectively may adversely affect our business, results of operations,
financial condition and cash flows.” on page 43.

Health and Safety

We aim to comply with applicable health and safety regulations and other requirements in our operations and have
adopted an environment, energy, occupational health and safety policy that is aimed at complying with legislative
requirements, requirements of our licenses, approvals, various certifications and ensuring the safety of our
employees and the people working under our management. We have implemented work safety measures to ensure
a safe working environment. Such measures include general guidelines for health and safety at our offices and
warehouse, accident reporting, wearing safety equipment and maintaining clean and orderly work locations. See
“Risk Factors — If we fail to obtain, maintain or renew the licenses, permits and approvals required to operate our
business, or fail to comply with applicable laws, our business, results of operations and financial condition may be
adversely affected.” on page 40.

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