They said: We were ahead of the market. They meant: We may have messed up.
This is just one of the things corporations say to skirt around awkward questions. Others being: The market is changing rapidly; it is a difficult, developing country; we are evolving.
For the past year, Sri Lanka-based MAS Holdings has been brainstorming on how to fix its India situation, quoting all the above excuses at one point or the other. MAS Holdings is one of the world’s largest lingerie and intimate wear manufacturers, which designs and makes apparel for some of the biggest international brands out there—Victoria’s Secret, La Senza, Calvin Klein, Gap, Marks and Spencer, Ralph Lauren, Nike, Lululemon, Puma, Columbia (you name it, they’ve got it).