Essay On Apparel Industry

CHAPTER 2
APPAREL INDUSTRY

2.1 Apparel Industry: An Overview
The Indian apparel retail is the second largest category in organized retail after food and groceries segment. Clothing is considered to be second skin of the body during the whole life, may be even more than other materialistic commodities, clothes are purchased not only for their functional benefits, but also carry a symbolic significance of individuality, taste, lifestyle. Due to retail growth buyers are provided more choice than ever before. In developing countries like India buyers have increasing choices to select between traditional and modern stores for apparels. Today the customer is treated as a king by the marketers. The behavior

Indian apparel industry has made a major contribution to the economy of the country in terms of direct and indirect employment generation and net foreign exchange earnings. The sector contributes about 14% to industrial production, 4% to the gross domestic product (GDP) and 17% to the country's export earnings. It provides direct employment to over 35 million people. The textiles sector is the second largest provider of employment after agriculture. Thus, the growth and all round development of this industry has a direct bearing on the improvement of the economy of the nation…” A.T. Kearney 2010

The major factors leading to a change in lifestyle are increasing per capita and household income, rapid urbanization, education and media & information. The men’s wear segment portrays the highest scope of growth. Presently, the growth rate is more for women’s wear; growing at 12%, and is expected to gain majority share in future. Other apparel segments such as kids wear are also increasing very