New Delhi, Nov 27: Backed by an expanding economy and consumption boom, the Indian fashion retail market - estimated at USD 45 billion and expected to touch USD 115 billion by 2025 - is considered the most dynamic retail growth market surpassing even China, as per 2017 Global Retail Development Index report by AT Kearney.
Currently the cynosure of all eyes, be it international brands and retailers or local companies cutting across geographical locations, the Indian retail market is booming with prospects for all those who are now looking to consolidate their position and register very strong growths here riding high on its stupendous prospects.
If global names like Zara, H&M, Mango, Guess, United Colors of Benetton, GAP, forever21, Levi’s, adidas, Nike, etc., have already made their presence felt, at least 100 more brands/retailers are set to make their foray in this market in the next couple of years to cash in on the big opportunity.
Alongside the global biggies coming up strongly, are the home-grown stalwarts, adding to the new-found market’s vibrancy and escalation. Indian brands such as Fabindia, W, BIBA, AND, Allen Solly, Van Heusen, Being Human, among others are also emerging strongly in the domestic market.
If Arvind Lifestyle Brands (home to international brands like Gap, The Children’s Place, Izod, Ed Hardy, Aéropostale, Gant, Hanes, Arrow, Flying Machine, Cherokee, US Polo, Elle, Excalibur, Nautica, Calvin Klein, Sephora, Unlimited, Geoffery Beene and Ruggers) and Reliance Retail (operating some 419 stores across India for top foreign brands including Marks & Spencer, Vision Express, Quicksilver, Diesel) are increasing their foothold in the market, others are not much behind.
In the mass market, there are two major players – V-Mart and V2 Retail (the former primarily operates in Tier-1 and Tier-3 cities and across northern, western and eastern parts of India while the latter, is one of the fastest growing retail groups in India) which are all set to leverage on increased spending by the consumers to cement their position at the top of the pyramid.
Apparel Sourcing Week 2019, to be held in Bangalore in March, gives platform to exclusively meet and interact with the Indian retailers and brands to book your ticket for entry into the Indian retail market. The first of its kind in India, Apparel Sourcing Week has already received huge response from retailer and brands, which are more than keen to meet and finalise their next supplier(s) during the upcoming two-day event.
Apparel Sourcing Week 2019, a two-day sourcing show not only provides the Asian manufacturers a platform to showcase their products & manufacturing capabilities to the Brands and Retailers from India and abroad, but also extends them a chance to attend the multiple seminars (headed by industry experts) organised during these two days, which would help the manufacturers get a better understanding of Indian Retail and its workings. (UNI )