GROWTH INCENTIVE

An uptick in ready-to-wear clothing from homegrown luxury labels is bringing an influx of capital and excitement

- NIDA NAEEM

The Indian market's embrace of luxury pret is not just us fashion publications talking the talk, the proof is in the numbers. Burgeoning disposable income among individuals from not just tier 1 but also tier 2 and 3 cities has provided luxury retail with a significant boost. According to a report by Statista, revenue in India's Luxury Goods market amounts to ₹63,180 crores in 2023. The market is expected to grow annually by 3.59 per cent (CAGR 2023-2028). Among the well-heeled, increasing attention towards pret or ready-to-wear brands and collections hints at a taste for accessible opulence, where craftsmanship and quality take precedence over flashy logos.

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The latest in the line of established couturiers to foray into ready-to-wear is Gaurav Gupta, by way of his Autumn/Winter 2023 collection. What's interesting is that he actually started out with ready-to-wear after graduation, and then expanded his couture universe to a point where he became synonymous with his otherworldly sculptural creations. Rahul Mishra had a similar trajectory; he showed pret at Paris Fashion. Week for 13 seasons until he became globally known for his phenomenal contributions to haute couture. Last Paris Fashion Week in September was a homecoming of sorts for Mishra, where he staged the first runway show for AFEW, the new RTW offshoot born out of his 40:60 joint venture with Reliance Brands Limited (RBL).