WOMEN'S WEAR ON A MASSIVE SURGE

A recent report estimates the Indian women's wear market to be over 1.2 billion people. This massive opportunity for women's wear brands in India is further fuelled by the growing disposable income of women in the country, increased accessibility to fashionable Western wear that's influenced by international trends, as well as the growing urge among women across age brackets and sizes to dress well. Through this article, some existing and new-age brands in the segment help us understand the opportunity better.

- Tripti Mehta

The women's wear market is slated to overtake the men's wear market by 2025. The market has been growing at 11 per cent CAGR, while the branded segment is growing at over 20 per cent a year. Sharing his point of view on the factors that have largely brought about this rapid surge, Vinay Chatlani, Chief Executive Officer, Soch, says, “Impulse buying matched with higher disposable income, in the fashion space, makes for an extremely exciting growth trajectory. Other factors such as ease of payment and a large influencer culture further reduced hurdles to purchases, bringing fashion right to your phones. This has also meant that the speed at which different tiers of cities receive this has now seen a level playing field. This is fairly evident in the growth numbers for branded wear in smaller cities. Customers have become much more discerning as choice has increased exponentially, especially with e-commerce exploding over the last few years. It is up to the brands to maintain relevance and find their own niche these days."