Business Of Fashion - February 2023

In this issue

With a total export of $44.4 billion in FY22 and more start-ups disrupting the value chain, India today is the second largest textile and clothing exporter. It is set to become a global market leader. Given the importance attached, it is believed this can be achieved. The increased budgetary allocation this year shows the significance the government attaches. For the year 2023-24, the total grant for textiles is fixed at Rs 4,389.34 crores which is about 22.6% higher than the revised budget grant for 2022-23. Incidentally, the ongoing China-US bilateral conflicts and buyers reducing dependency on China present opportunities for manufacturing nations such as India, Bangladesh, and Vietnam.

Shailesh Chaturvedi, MD and CEO, Arvind Fashions, and chairman of the 22nd India Fashion Forum (IFF) believes that India’s highly fragmented fashion industry with very few 1000 Cr+ brands indicates a massive opportunity to build brands at scale. However, he cautions that it should not come at the expense of profitability.

NEW COLLECTIONS

Find out what brands were up to, from Caprese collaborating with Manish Malhotra to Rangriti's Lohri collection.

2 mins

NEW STORES

The growing landscape of India's fashion and lifestyle industry is marked by brands adding more retail outlets. Discover where the new retail points are.

10 mins

NEWS BREAKERS

Some news turns more heads than others. Learn the reasons.

9 mins

Fashion in every fibre

In his three decades in the fashion industry, Shailesh Chaturvedi has seen things unfolding in the country's fashion and lifestyle market - from a predominantly tailored-and-stitched apparel market to one of the top future markets for global brands. As the chairman of India Fashion Forum (IFF), Chaturvedi brings a wealth of fashion and retail knowledge to the country's premier fashion and lifestyle event where the glitterati and top honchos of the fashion industry will search for the next big thing and opportunities in the business.

6 mins

Like London, like New York,

Shailesh Chaturvedi, MD and Chief Executive officer of Arvind Fashions, is a veteran of India's fashion and lifestyle business with about three decades in the retail industry. He is the chairman of the India Fashion Forum (IFF) 2023. In a freewheeling interview with Rasul Bailay, group managing editor of IMAGES Group, Chaturvedi talks about India growth as a lucrative yet challenging market for fashion and lifestyle business and advises local and foreign brands to not to get carried away by the attractiveness of India's fashion and lifestyle market and they should rather focus on the basics like consumer definition, better execution of plans and to chase profitability.

10 mins

INDIA FASHION FORUM 2023 Decoding the DNA of Profitability: Growth Defined by Value Creation

India Fashion Forum (IFF), India's largest fashion intelligence event, returns for its 22nd edition on 28 February to 1 March at the Conrad, Bengaluru, shaped by the theme of 'Decoding the DNA of profitability: Growth defined by Value Creation'. Set to host over 200 speakers, representatives from 400+ brands and companies and 1000+ attendees, the IFF 2023 conference will cut through topline naivete and focus on real metrics that matter, including building operational capabilities for consistent high-quality execution, creating wealth through profitability and focus on return on capital employed.

9 mins

Leather Footwear And Accessories In 2023

The growth of the leather footwear and accessories market is expected to be driven by the increasing popularity of versatile and multi-functional footwear and accessories. With consumers leading increasingly busy lives, they are looking for products that can be worn for a variety of occasions and activities. This trend is expected to lead to increasing demand for versatile leather footwear and accessories in the future.

3 mins

Untapped potential of homegrown D2C footwear brands

After strong growth in recent years, Indian D2C brands are optimistic entering 2023. D2C brands are estimated to be growing at a compound annual growth rate (CAGR) of 40% in India.

4 mins

Why the year 2023 holds promise for India's jewellery sector?

In recent years, the sector has faced several challenges, including a decline in consumer demand and a decrease in exports. Despite these challenges, the year 2023 holds promise for India's jewellery sector for several reasons.

2 mins

The return of rose-cut diamonds

Uniquely radiant, a rose-cut diamond is one of the oldest diamond cuts and was first developed in 1400s. This beautiful cut has been used in jewellery for centuries. Unlike the brilliant cut, a rose cut is a flat bottom diamond and has three to twenty-four facets on its domeshaped crown top resembling a rosebud and therefore the name. It was very popular till late 1900 when the brilliant cuts came in and took over the market. Therefore, most of the vintage jewellery you see would be set with rose-cut diamonds.

3 mins

The Changing Landscape of Indian Handbag Market

The Indian handbag market, segmented as clutches and wallets, shoulder bags, satchels and saddlebags, and totes, has grown manifold over the last decades. This growth has also spawned several homegrown brands, which today compete with global brands on their home turf and, at the same time, are either eyeing a global presence or mulling further expansion.

7 mins

LEATHER APPAREL AND ACCESSORIES SECTOR TO SHRINK 7-8%

Owing to slowdown in consumer demand in Europe and the United States, revenue of the Indian leather apparel and accessories sector is set to decline 7-8% in fiscal 2024, says CRISIL Ratings.

1 min

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Business Of Fashion Magazine Description:

IMAGES Business of Fashion is a monthly resource for fashion retailers, brand owners and industry leaders in India. It delivers fashion business intelligence on emerging retailers, disruptive technologies and domestic and global brands that are making their mark in the industry at a time of unprecedented change.

With a 24 year old loyal reader base of over 60,000 top decision makers, fashion retailers and fashion buyers, spread across all sectors of the business of fashion in India, IMAGES BoF has constantly proven itself as easily the most focused and best targeted fashion business media in India.

Launched in 1992, the monthly magazine is an informed, analytical publication on the fashion business in the country. It has played the role of a catalyst in the retail evolution in India focused on and driven by branding, marketing and retailing of fashion in the country. It enables continuous information exchanges through its activities - facilitating networking among investors, retailers and brand leaders. The publication is amongst the country’s top recall business magazines in India and its reach extends to 2,00,000 of India's top decision makers in retail and retail support business.