Business Of Fashion - July 2023

In this issue

India today is the most populous nation and the fifth largest economy in the world, and it is expected that it will emerge as the third largest by 2035. Factors such as rising disposable income, further urbanisation, better connectivity, and a large young population have enabled the country to pull of this success story. This, apparently, has made the Indian market lucrative, and thus has witnessed growth across sectors. Among them, vibrant and prospective, is the fashion industry. Fueled by the abovementioned factors and many others, the sector is expected to experience strong growth. Over the years, it has become more organized and segments have witnessed more players entering, making it more competitive. If the market was dominated by ethnic and formal, today casual and athleisure are the new trends. When it comes to womenswear, ethnic wear is more interwoven with western wear. In this backdrop, what is burgeoning is kidswear, as families become smaller and more parentsjoin the workforce. Overall, the market is becoming more organized, and we are likely to witness intense competition.
To unravel the intricate details, we have presented in this issue a comprehensive and elaborate analysis of the market.

Shein to re-enter India soon

Fast-fashion e-commerce giant Shein plans to re-enter India after agreeing to a licensing deal with Mukesh Ambani's Reliance Industries Ltd. The comeback is nearly three years after the brand was booted out of the country.

1 min

Textile and apparel exports slide 12.2% on slack demand

India's textile and apparel exports in May 2023 were in total valued at $2,816 million (as against $3,206 million in May 2022) and its share in all commodity exports declined to 8.05%, from 8.22% a year earlier.

1 min

Brand Suman Nathwani: Using Innovative Designs to Shape the Intimate Wear Category

Brand Suman Nathwani is on a growth spree and how! The brand has grown on the back of technology, store design and customer experience par excellence. Its inclusive designs and superior fabric quality have made it an instant hit across age groups and the brand aims to expand its retail presence to over 100 doors across India within the next 3 years...

3 mins

THE GREAT PROMISE IN INDIA'S FASHION MARKET

India has taken over China as the most populous country and its economy is fifth largest in the world. It's believed that it could become the third largest by 2032. What does it mean for the country's fashion industry which has grown phenomenally over the years?

10+ mins

INDIAN FASHION RETAIL MARKET

The size of the Indian apparel market in FY 2022 was US$ 65 billion. The domestic apparel market is expected to grow at a CAGR of 12.3% and this growth will be driven by an increase in both the per capita consumption and the average spend on apparel. Meanwhile, growing movement towards sustainability in fashion has pushed the fashion industry to innovate through the value chain...

10+ mins

CONSCIOUS BRANDS AND STAYING RELEVANT

The consumer value system is influenced by various factors, including personal values, cultural norms, social influences, and economic considerations. As the world evolves, these sentiments only get stronger and number of socially conscious consumer is going to increase.

5 mins

THE NON-LINEAR SUSTAINABLE APPROACH

Unlike the linear model, circular fashion is one approach in which waste and pollution are designed out, products and materials are kept in use for as long as possible, including through reusing and recycling, and where natural systems are regenerated.

6 mins

Despite Fashion Pact, fashion industry remains major polluter

Kearney's 2023 CFX finds that the needle has barely moved since last year's report, with the 200 global brands analyzed barely reaching an average of 2.97 on a circularity scale of 10.

7 mins

MAKER OF AFFORDABLE FASHION

In 1988, in a small town of central India, Rajendra Seth decided to sell his first ready-to-wear at ₹98. Despite this bold move, the concept became a big hit and thus Dennison was born.

2 mins

FASHION TAKES CENTRE STAGE IN LUCKNOW!

Lucknow, the vibrant city known for its rich culture and heritage, played host to a fashion event that was nothing short of extraordinary.

10+ mins

NICHE FRAGRANCES FROM UAE

UAE-based My Perfume Group was started with one multi-brand trading store in 1993. But its presence has gone global. In 2014, it launched My Perfumes Select as a new age brand that, it says, embraced rich ancient perfumery traditions of the Middle East while embracing the modern global fragrance cultures. Later in 2023, buoyed by the worldwide success, it decided to launch the brand in Mumbai. \"Mumbai is a highly dynamic city and is the financial and commercial hub. It is also one of the fastest growing economies and the fashion capital of India as well,\" Mustafa Firzo, Managing Director, My Perfumes Group, informs Images Business of Fashion. Excerpts.

5 mins

A brand from a refined atelier

Forty-five years after it was founded, major leather goods brand Hidesign competes with the likes of Charles Keith. Today, the company operates 103 stores, is in the process of opening another 4, and has spread its presence across 25 countries.

4 mins

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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.