As more Indians turn climate-conscious, investors have joined the transition as well, even though fast fashion retains its grip over a wide section of customers.
Multiple sustainable clothing brands like Virgio, Nicobar and No Nasties have emerged in the last few years, targeting buyers across age groups, including Gen Z and young millennials. According to market intelligence platform Tracxn, there are more than 900 startups building in the segment.
However, the shift from fast fashion to sustainable clothing may be gradual, industry experts said, especially with fast fashion having made such a deep impact in the minds and pockets of consumers.
In FY24, fast fashion grew by 30-40% year-on-year, driven by affordability and growing access to trendy styles, Redseer Strategy Consultants estimates show. "Despite a year of sluggish consumption, fast fashion stood out as one of the few thriving sectors in India's retail market," Kushal Bhatnagar, associate partner at Redseer, said.
Bu hikaye Mint Mumbai dergisinin November 15, 2024 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin November 15, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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