|Even as western markets stagnate, India is a country where fashion clothing has a massive potential to grow mainly owing to its young generation's new-found economic independence and confidence. And the number of people who qualify as young is huge. As per official data, in 2020, the average age of an Indian will be 29 years, compared to 37 for China and 48 for Japan... making India the country of the young!|
|It is imperative to note that while clothing sales is growing at 6.7 per cent in the US, it is an impressive 9.7 per cent in India. And this reality is just the beginning - enough to give the much-needed impetus to the intent behind creating a show like Apparel Sourcing Week 2019.|
|It is also important to recognise that the aspiration for fashion is not limited to the towns and the so-called metropolitan cities, but is a pan-India phenomenon, though the interpretation of fashion may be different. In fact, the growth of retail sector in smaller cities is outpacing that which is seen in the metro cities.|
|Cities including Lucknow, Jaipur, Chandigarh, Kochi, Indore, Nagpur and Bhubaneshwar are developing and thriving retail sectors, buoyed by factors such as increasing population and rising income levels, as well as cheaper land prices helping the construction and expansion of stores and malls.|
|Meanwhile, bigger brands such as H&M and those belonging to large business conglomerates such as Tata-owned Trent, Aditya Birla's Pantaloons and Future Group's Big Bazaar and Easyday as well as the likes of GAP, Nautica and US Polo are expanding in smaller cities.|
|As of today, the Indian clothing retail market worth US $ 45 billion is fed by mostly Indian manufacturing, besides US $ 700 million worth of apparels from China and US $ 300 million worth of apparels from Bangladesh. But with the market slated to reach US $ 115 billion by 2026, the Indian market would require larger number of vendors to fulfil the retail shelves.|
|Indian retailers and brands like Future Group, Reliance Trends, Aditya Birla Group and Raymond's, in their bid to expand further, have already started developing their vendor base for sourcing certain products from Bangladesh, Vietnam, China and Sri Lanka in order to enhance their competitiveness, locally and internationally.|
|With retailers looking for more products and reliable partners, the upcoming Apparel Sourcing Week, India, holds significance for the Indian and international retailers and brands to meet the best of the garment manufacturers from India, Bangladesh, Vietnam and Sri Lanka to build a long-term relationship, to understand their manufacturing capabilities, the quality and timely delivery standards and also identify the ways by which the manufacturers can address their growing needs.|
|With the right synergy, The Apparel Sourcing Week, India is slated to become the best and the widely acclaimed platform to house the leading and the most popular clothing and fashion manufacturers. The event will eventually present itself as the most economical alternative to all major international fairs, offering a variety of merchandise that caters specifically to the needs of Indian consumers. It aims to become the most visited trade fair in Asia not only for the growing domestic retail but also for the export market.|
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.