Press Releases
Press Release 26 November 2018
Indian Fashion Retail on Expansion Spree
| Backed by an expanding economy and consumption boom, the Indian fashion retail market— estimated at US $ 45 billion and expected to touch US $ 115 billion by 2026—is considered the most dynamic retail growth market surpassing even China (As per 2017 Global Retail Development Index report by AT Kearney)! |
| Currently the cynosure of all eyes, be it international brands and retailers or local companies cutting across geographical locations, the Indian retail market is booming with prospects for all those who are now looking to consolidate their position and register very strong growths here riding high on its stupendous prospects. |
| If global names like Zara, H&M, Mango, Guess, United Colors of Benetton, GAP, Forever21, Levi’s, adidas, Nike, etc., have already made their presence felt, at least 100 more brands/retailers are set to make their foray in this market in the next couple of years to cash in on the big opportunity. Alongside the global biggies coming up strongly, are the home-grown stalwarts, adding to the new-found market’s vibrancy and escalation. Indian brands such as Fabindia, W, BIBA, AND, Allen Solly, Van Heusen, Being Human, etc., are also emerging strongly in the domestic market. |
| If Arvind Lifestyle Brands (home to international brands like Gap, The Children’s Place, Izod, Ed Hardy, Aéropostale, Gant, Hanes, Arrow, Flying Machine, Cherokee, US Polo, Elle, Excalibur, Nautica, Calvin Klein, Sephora, Unlimited, Geoffery Beene and Ruggers) and Reliance Retail (operating some 419 stores across India for top foreign brands including Marks & Spencer, Vision Express, Quicksilver, Diesel, etc.) are increasing their foothold in the market, others are not much behind. Provogue (India) Limited, a menswear fashion brand of contemporary clothing is now available through more than 350 doors across 73 cities pan-India. |
| In the mass market, there are two major players – V-Mart and V2 Retail (the former primarily operates in Tier-1 and Tier-3 cities and across northern, western and eastern parts of India while the latter, is one of the fastest growing retail groups in India) which are all set to leverage on increased spending by the consumers to cement their position at the top of the pyramid. If V-Mart is targeting over four-fold jump in revenue to touch Rs. 2,500 crore (US $ 391.71 million) by 2020 with smaller towns expected to be its key growth drivers, V2 Retail Ltd. has already notched a turnover of Rs. 300 crore (US $ 45.4 million) for FY 2015-16 and is now targeting to go further up. |
| Keeping in line with the market prospects, Future Group (which is poised to grow its revenues by about 30 per cent, from Rs. 30,000 crore/US $ 4.09 billion this fiscal to over Rs. 40,000 crore/US $ 5.45 billion in FY’19) through its 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, while Shoppers Stop Ltd (India’s prominent retail group and a pioneer in the organised retail industry with 74 stores in 33 cities) has already achieved gross retail turnover of Rs. 34.05 billion (US $ 544 million) in FY 2014–15, and is now looking to make further inroads with its strong business model. |
| Apparel Sourcing Week 2019 gives you the platform to exclusively meet and interact with the Indian retailers and brands to book your ticket for entry into the Indian retail market. The first of its kind in India, Apparel Sourcing Week has already received huge response from retailer and brands, which are more than keen to meet and finalise their next supplier(s) during the upcoming two-day event. |
About Apparel Sourcing Week 2023
Apparel Sourcing Week 2023, a two-days Sourcing Show not only provides the Asian manufacturers a platform to showcase their products & manufacturing capabilities to the Brands & Retailers from all over the world including India, but also extends them a chance to attend the multiple seminars (headed by industry experts), workshops, open-house discussions and networking opportunities organised during these three days, which would help the manufacturers get a better understanding of Indian and International Retail and evolving dynamics of sourcing in various markets and retail formats.
About the Organiser
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.