D2C brands: The New Shining Stars

With India's e-commerce industry projected to grow by 84% to US$ 111 billion by 2024, driven by mobile shopping, it is poised to become a favourable market for fashion retailers on the back of a large young adult consumer base, increasing disposable income and relaxed FDI norms. In less than a decade, fashion D2C brands have raised $756 million.

Top thought

In a sector that was largely penetrated by international brands that were the key players in the market primarily due to a lack of availability of home-grown labels that could match their quality and style, India's up-and-coming apparel brands have been major disruptors.

Driven by game-changing technology, the market has become more favourable for D2C start-ups, making a significant shift from offline to online retail not only among customers, but also among existing apparel brands.

Customisation of the product has been the driving force for fashion and apparel e-commerce.

A full circle

The COVID-19 pandemic has significantly altered the course of the industry and its individual segments, turning it on its head. While western work-wear was one of the fastest growing categories before the pandemic hit, post it, consumers have moved from formal, stiff fabrics to comfortable, season-less, skinfriendly fabrics. Subsequently, the pace of recovery for casual wear and lounge wear has been the fastest, followed by kids' wear and innerwear, ethnic wear, denims, formal wear and lastly, occasion wear.