|The much-awaited Apparel Sourcing Week (ASW) is around the corner and the visitors’ registration is getting faster. The urgency is a reflection of the fact that ASW is the need of the time and companies are looking to make the best out of this one- of-its-kind opportunity to explore the existing and emerging prospects in the vibrant and exciting Indian fashion retail market.|
|Keeping in sync with ASW’s objective and goal of facilitating the perfect sourcing platform, we present to you three names from a catalogue of over 150+ buyers who would be thronging the sourcing extravaganza, and are not only considered amongst the top-of-the line players in the Indian retail landscape but are also on an expansion spree. And as you might have guessed by now, their sourcing volumes are also on a high. Bangladesh is very much on their sourcing radar as well having exported to India US $ 145.11million worth of apparel items (in July-Sep period of 2018-19) compared to what was US $ 54 million in the same period last fiscal, registering a growth of 167.10 per cent.|
|The first name is that of India’s leading retailer, The Future Group, which is serving customers in 95 cities across the country through around 10 million square feet of retail space. Future Group offers a wide-range of products - most of which Bangladesh is proficient in - under different categories for customers in various economic brackets and geographical locations. Under Future Fashion, the company owns a portfolio of 24 leading brands. Future Lifestyle Fashions Ltd. operates popular brand stores, department stores and multi-brand outlets including Central, Brand Factory and Planet Sports. FLF also owns and retails over 25 fashion brands. Its fashion brands include Cover Story, all, UMM (Underground Music Movement), Lee Cooper, Bare Casuals, Scullers, Indigo Nation, Spalding, RIG, Converse, Lombard, Daniel Hechter, Clarks, Celio, Mother Earth and many more.UK clothing and hardware retailer Laura Ashley has partnered with Future Group to make and sell merchandise as well as wholesale distribution in India.|
|Future Group’s value fashion format FBB plans to invest Rs. 350 crore (US $ 48 million) to open about 140 exclusive outlets as it aims to double turnover in the next two years. At present, FBB retails its products through 385 points of sales in Big Bazaar stores, including 62 exclusive outlets.|
|The other two names are V2 Retail and V-Mart which are considered the leaders in the mass market. Catering to the masses, their offerings too come with competitive price points, yet in wide and exciting range. V-Mart Retail primarily operates in Tier-2 and Tier-3 cities and across northern, western and eastern parts of India. The company currently operates 109 stores across 91 cities and offers fashion garments at down-to-earth prices. Targeting over four-fold jump in revenue to touch Rs. 2,500 crore (US $ 391.71 million) by 2020, smaller towns are expected to be its key growth drivers while V2 Retail Ltd. is one of the fastest growing retail groups in India selling apparel and non-apparel products. Currently, V2 Retail limited is managing 1,90,000 sq.ft. space with a turnover projection of Rs. 300 crore (US $ 45.4 million).|
|So, what are you waiting for? Join ASW ’19 to be part of the US $ 46 billion Indian fashion retail market, all set to touch an overwhelming US $ 115 billion by 2026, growing at a promising CAGR of 9.7 per cent!|
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Apparel Sourcing Week 2019, a two-day Sourcing Show not only provides the Asian manufacturers a platform to showcase their products & manufacturing capabilities to the Brands & Retailers from India and abroad, but also extends them a chance to attend the multiple seminars (headed by industry experts) organised during these two days, which would help the manufacturers get a better understanding of Indian Retail and its workings.
Apparel Resources is well known for its benchmark publications – Apparel Online, StitchWorld and Resource Guide published from India, Bangladesh & Vietnam. These publications have been around in the industry for over 35 years, supporting, guiding and standing by garment exporters and the retail industry globally, providing them a platform to source better.