Japanese Brands Making A Beeline For India!

Indian markets have taken to foreign apparel brands like never before. Given the huge numbers, apparel manufacturers are also catering to the whims and fancies of the Indian buyers. Given the huge potential of the organised branded western wear market, several companies from Japan are also eyeing the Indian market. Chitra Balasubramaniam reports on how India is opening up her market for these brands.

In India, the market has been dominated by European and US brands, which forayed in very early. Not only that, several US and European brands sell in India through their websites. These brands are shipping to India also. M&S works its line to the taste of its Indian customers adding more colours. The success of Zara and H&M has invited the attention of major global manufacturers to enter the Indian retailing sphere. The fact that only a small percentage of the entire garment manufacturing trade is organised makes the market more lucrative and immensely potential, for the brands eyeing to enter the Indian market. As per a survey done by consulting major A.T. Kearney in 2016, the Indian fashion and lifestyle market is expected to be around R3.4 trillion in the next five years. It was valued at R2.21 trillion in 2016 and said to be growing at a compounded annual growth rate of 12 percent. Early entrants stand a chance to gain, given the unchartered territory. Also, with rental leases down and spaces in malls available, it affords plenty of opportunity for International brands. In line with the West, even Japanese brands are queuing up to enter the Indian market, all too swiftly.

The retailers that are eyeing the Indian segment include Mark Styler which has a host of fashion and lifestyle brands like Mercury do, Dazzlin and Emoda, fast fashion retailer Mini so is also scouting around for space in India. India, for most Japanese brands, is being touted as the next Asian giant and the companies are going all over to create a foothold in India. Call it the ‘Modi’ effect or the effective selling of India by the PM in Japan and the close ties that are taking place between the two countries, Japanese companies seem to be entering India quite a bit in recent times.