The garments industry is experiencing a transformative phase driven by sustainability, technology, and globalization. Consumers' growing preference for eco-friendly clothing and ethical practices has propelled the industry toward sustainable fashion. Technological advancements like AI, automation, and AR/VR have revolutionized operations and enhanced the customer experience. However, problems still exist, such as unethical sourcing and lack of supply chain transparency.
They exist as a result of intricate international supply networks, cost constraints, a lack of standardized reporting, and scant regulatory oversight. Nikhil Soni, through his family business Ragnik, emerges as a solution provider. With a focus on transparency, sustainable practices, social responsibility, and industry 4.0 practices, Nikhil Soni aims to meet the demand for ethically sourced garments. Ragnik's commitment to innovation and environmental consciousness positions it as a driver of positive change in the industry.
Raghav Soni, Head - Product Development
Diverse Experiences & Educational Achievements
Nikhil Soni is a highly accomplished individual who has embarked on a journey of self-discovery, gaining diverse experiences and educational achievements along the way. After completing his bachelor's degree in Business from Nottingham University in the UK, Nikhil decided to return to India to support his family's business venture, which operates at the intersection of supply chain, fashion, and design.
Recognizing the need for specialized skills, he pursued a Master's degree in Strategy from ESSEC, one of the top global business colleges based in France. During his time at ESSEC, Nikhil discovered his passion for finance and went on to pursue the prestigious Chartered Financial Analyst (CFA) certification. Nikhil's professional experience includes working as an ESG business developer at AXA, a global insurance company.
With a well-rounded skill set encompassing supply chain, finance, and marketing, and his exposure to diverse cultures and business practices, Nikhil has
honed his abilities as a versatile professional in the dynamic world of business. As a second-generation entrepreneur, Nikhil found himself drawn to the garment industry, which was initiated by his visionary mother. He admires her as a trailblazer, breaking barriers as a woman leading a successful business. Working in synergy with his father, they have formed a formidable partnership that capitalizes on their strengths. Nikhil's brother, Raghav Soni, who leads the product development and sampling at the company provides leadership on everything product. His experiences come from working in Paris with brands such as Rick Owens and Gianvitto Rossi, brings additional skillsets that create value to the family business. Together, they have made business discussions an integral part of their daily lives, fostering an environment of constant growth and innovation.
While engaging with industry leaders and conducting thorough research are essential components of staying informed about the latest innovations, there are several industry resources available to facilitate this process. In addition, the company provides bespoke solutions for clients and has a range of customers that they work with. The company also has a program where it has reserved capacity within their company for upcoming designers with whom the company and their Paris office work closely. In order to manage lead times and other demands of clients it has integrated cloud manufacturing and industry 4.0 machinery within its factories. The company reserve capacity quarterly and incrementally increase based on the demands so that all customers have the same level of service.
Sustainable Innovation & Industry Transformation
The garment industry has undergone significant changes in recent years, driven by external factors that demand continuous innovation and adaptability. Nikhil's focus is on maximizing internal efficiencies to stay ahead of the curve. Recognizing the importance of Industry 4.0 technologies, he aims to implement them effectively to improve operational processes and maintain a competitive edge in the face of growing international competition.
Sustainability is a core pillar of Nikhil's approach to the garment industry. He believes in reducing the environmental impact of products and increasing their lifespan. At Ragnik, the team have worked diligently to bridge the gap in cost and lead times between organic and non-organic supply chains, making organic products more accessible to customers. Currently, 50 percent of Ragnik's product mix is organic or products centered around a ecofriendly supply chain, and Nikhil aims to increase this proportion to 75 percent in the future. Additionally, his dedicated design team collaborates closely with customers to repurpose and redesign product ranges, extending the life cycle of their offerings and minimizing waste.
I focus on quality, processes, materials & finishes that limit environmental consequences
Looking ahead, Nikhil envisions significant changes in the garment industry over the next 5-10 years. Sustainability and ethical practices will take center stage, while the integration of AI and automation will revolutionize operational processes. Embracing these advancements will lead to increased productivity, improved efficiency, and optimized costs for companies. Furthermore, the adoption of augmented reality (AR) and virtual reality (VR) technologies by customers will play a crucial role in shaping their decision-making processes, providing exciting opportunities for designer-based garments.
The company holds a GOTS certification and derives 75 percent of its electricity from solar sources, showcasing a commitment to sustainability. In addition, Ragnik is actively collaborating with external vendors to assess their individual carbon footprints and implement programs aimed at mitigating these emissions. The company's ultimate aim is to become a carbon-neutral manufacturer, and they have set progressive milestones to steadily move towards this ambitious goal.
“In conclusion, my advice to the young is that working in the garment sector is akin to working in a Michelinstarred restaurant, where the fast-paced nature and constant movement create an exhilarating experience. With the Indian garment sector poised for growth, there are ample opportunities for exploration and advancement. However, I recognize the need for continuous upskilling due to the impact of AI and Industry 4.0, which will reshape job dynamics in the industry. By embracing these changes, individuals and businesses can thrive in this evolving landscape”, concludes Nikhil Soni, Business Head at Ragnik.
