Dear Stakeholders,
It is always a pleasure to write to you at the end of an eventful year.
As I look back on the past year, it is clear that our journey has been one characterized
by resilience, growth, and unwavering optimism. Despite the tumultuous currents of global
economic challenges, there are glimmers of hope that buoy our spirits and light our path
forward. Amid the backdrop of uncertainty, the World Bank's projection of modest economic
growth provides a beacon of encouragement.
While the fashion industry may face some turbulence in demand, we
remain steadfast in our belief that a resurgence is on the horizon, breathing new life
into our endeavours. With these promising indicators guiding our way, coupled with the
strategic initiatives we have undertaken, we stand poised on the brink of sustainable
growth in the forthcoming year and beyond.
At the heart of PDS, lies our commitment to partnership and ownership,
where we empower individuals to seize opportunities and foster a culture defined by our
cherished values. We embrace the core pillars of Trust, Transparency and Teamwork. Trust
forms the foundation, Transparency fosters open communication and Teamwork fuels
collective success. These pillars guide our actions, shaping a culture of collaboration
and reliability.
Our strategy is rooted in the principle that our people are the driving
force behind our achievements. We take pride in our diverse and inclusive workforce, with
individuals from over 46 nationalities, including approximately 58% women. Each business
vertical cultivates its distinct culture, enriching our collective experience. We
prioritize continual investment in the development of our leaders and employees to
position ourselves effectively for long-term success. Every quarter we invite renowned
faculty from B Schools like Harvard to take sessions for our senior leaders under the PDS
Leadership Academy program. Additionally, the PDS Learning Academy offers a range of soft
skills and functional training programs tailored to enhance the capabilities of all
employees.
Our pursuit of excellence extends far beyond the boardroom,
encompassing our motivation to give back to society and the environment. A significant
achievement for PDS is the inauguration of our second solar power plant in Bangladesh,
capable of generating 1 megawatt (1MWh) of clean, renewable energy. This transformative
step has turned two of our three manufacturing units into eco-friendly facilities,
aligning with our commitment to environmental responsibility. We are proud to announce our
commitment to the Science Based Targets initiative (SBTi), aligning our sustainability
efforts with global climate science. Having signed the commitment letter, we will develop
and set our targets within the next 24 months and get them validated by SBTi.
We believe that providing quality education not only helps one provide
for themselves but also uplifts the entire community. With this ethos in mind, we persist
in our support of initiatives like the SOHAM School for Kids in Hyderabad and Hope
Worldwide in Bangladesh, ensuring access to education for children and providing
vocational training for their parents. Further, our business verticals engage in
initiatives that make meaningful contributions to the regions where they operate.
As we embark on the next chapter of our journey, let us do so with
hearts filled with hope, minds brimming with innovation and a shared commitment to leaving
an indelible mark on the world-one that stands as a testament to our unwavering dedication
to our vision to be the most admired global enterprise providing innovative fashion
solutions in the most ethical and trusted way.
With gratitude and optimism,
Dr. Deepak Kumar Seth
Chairman