Market Analysis Of Indi The Indian Fashion Industry

712 Words3 Pages

Coco Chanel once said, “Fashion is not something that exists in dresses only. Fashion is in the sky, the street; fashion has to do with ideas, the way we live, what is happening” (Levinson, 2013). Fashion is not just a style of clothing or appearance. It is a form of creativity, of self-expression and a way of living.
Fashion industry is a multibillion-dollar global enterprise dedicated to the trade of manufacturing and retail of clothes, shoes, bags and other textile products. By the 1970s the boundaries between the high fashion industry and the apparel industry for regular clothes blurred to give them and all the in-between companies an umbrella industry.
Indian Fashion Industry is unlike any other fashion industry. Being one of the oldest …show more content…

It is also about the fashion photography, pattern making, garment construction, accessory designing, make-up artists, modelling, fabric weaving, textile research and development, fashion journalism/editorial, and manufacturing to list a few. There’s a whole catalogue of roles in the industry that make it what it is.
The fashion industry is a mix of design, manufacturing, distribution, marketing, retailing, advertising, and promotion of all types of apparel and other products.

1.2 Market Overview
Indian economy, one of the fastest growing economies of the world, is witnessing major shifts in consumer preferences. Increasing disposable income, brand awareness and increasing tech-savvy millennial population are the driving factors of corporatized retail within the country. Indian apparel industry is the second largest contributor in the retail industry after food and grocery is seeing some major shifts. (IMAGES Business of Fashion, 2017)

1.2.1 Fashion Industry Statistics
According to FashionUnited Business Intelligence, domestic market size of the clothing and footwear industry in India is 68 billion dollars and the domestic market size of the textile industry in India is 108 billion dollars. Fashion-related industries in India provide employment to around 60 million people …show more content…

The urban market that mainly comprises of metro cities such as Delhi/ NCR, Mumbai, Bengaluru, Chennai, etc., are the biggest markets for apparel in India and contribute 23 per cent to the Indian apparel market. Considering the fact that almost 70 per cent of the population resides in villages, the major contribution of urban cities to the apparel market indicates the higher purchasing power of the people in urban cities, their frequency of purchases and tendency to purchase premium and quality products. The rural apparel market in India is still primarily catered by unbranded and unorganised local players. Need based clothing and price sensitivity among people of rural India does not make it a lucrative market for branded players. (IMAGES Business of Fashion,

More about Market Analysis Of Indi The Indian Fashion Industry

Open Document