Why Apparel Sourcing Week is the right place to be
APPAREL SOURCING WEEK, ’19 has been conceptualised as the first ever global sourcing platform in India for the fast expanding Indian retail market. The event, to be held on 15th &16th of March 2019 at the beautiful ITC Gardenia, Bengaluru.
1. First of its kind show :
For expanding retailers/brands in India, meeting increasing demands in terms of quantities and product categories is a challenge, but there is no credible platform to meet new business partners
2. Competitive sourcing :
In a dynamic marketplace the opportunity to source competitively is very critical to the success of a retailer or a brand. This does not only mean the price points at which one buys the merchandise, but also innovations and selecting the right vendor to deliver the product on time and at a certain quality.
3. Product Diversity :
Why get limited by what manufacturers in India can offer, see a wide variety of products in fabrics sourced globally. Categories include denim, shirts, trousers, lingerie, athleisure, knits, sweaters, suits, kidswear, jackets, innerwear and sportwear.
Growing annually at around 30–35 per cent and expected to maintain the Compound Annual Growth Rate (CAGR) of 8 per cent from here on till 2023, trousers are considered one of the fastest growing segments in Indian Retail. Market in this product category was estimated to be at US $ 3.40 billion in 2013, which is expected to touch US $ 7.4 billion in 2023.
Standing at merely US $ 2.8 billion in 2016, the youth-driven Indian denim market is expected to grow at a CAGR of 9.7 per cent to touch US $ 10.82 billion by 2026. Of the total market, men’s denim segment accounts for 84 per cent of the market, while the women’s denim segment and kids’ denim segment comprise 10 per cent and 6 per cent respectively.
Shirts account for 12 per cent of the total market in which men’s shirts holds a percentage share of 94 per cent while women’s shirts make up for the remaining 6 per cent. In 2017, the domestic shirt market was estimated at US $ 5.83 billion, which is expected to touch US$ 10.1 billion by 2027 growing at a CAGR of 6 per cent.
Jackets & Sweaters
Initially a necessity-based market, rising lifestyle habits are giving a boost to the winterwear segment (Jackets & Sweaters), which in 2016, stood at US $ 2.45 billion and isexpected to touch a whopping US $ 4.23 billion by 2026, growing at CAGR of 6 per cent.
Of late, Indian fashion retail is witnessing a huge demand for knitted products with the knitwear market expected to grow at a promising rate of 9 per cent over the next decade. Category-wise, men’s section accounts for 40 per cent of the total knitwear market, followed by women’s section with a market share of 34 per cent while the boys’ and girls’ sections constitute 18 and 8 per cent respectively. The knitwear segment is further divided into categories like T-shirts, innerwear, athleisure and sportswear.
The current size of the T-shirt market in India is estimated to be US $ 3.38 billion, which is expected to touch US $ 9.03 billion by 2027. This market is estimated to grow at a promising CAGR of 10 per cent over the next decade. The T-shirt market of India comprises of Polo Tshirts, Knit T-shirts, Henley T-shirts, Knit Tops, etc.
Categorised into men’s and women’s, innerwear is a key segment in the Indian knitwear market that is expected to grow at a CAGR of 10 per cent in the next 10 years. The current market size of the innerwear market is worth US $ 4.07 billion, which is estimated to touch US $ 10.82 billion by 2027.
From 2015 to 2016, the Indian sportswear market grew by 22 per cent, outpacing the segment’s global increase of 7 per cent. By 2020, it is expected to grow at an additional 12 per cent CAGR with sales expected to reach US $ 8 billion. The huge demand for leggings, pajama sets, jeggings, exercise pants, sports bra, etc., is driving the growth of athleisure/activewear market.
A market study shows that growth is happening and will continue to happen in eight catagories that are the hot-selling products in Indian retail market as of today. These categoies have the potential to drive retail sales in the year to come.
4. View targeted collections :
30 manufacturers from Bangladesh, Sri Lanka, Vietnam and India will display collections that are targeted at Indian audiences. These top manufacturers collectively account for more than US $ 6 billion in international garment trade and over 350 factories.
5. Chance to meet new suppliers with proven performance :
Each of the exhibitors are hand-picked and have a strong reputation in the international market, ready and keen to work in India. The event will provide a conducive environment to build a longterm relationship, to understand manufacturing capabilities, the quality and timely delivery standards and also identify the ways with which the manufacturers can address your growing needs.
6. Import from key countries on the rise :
While China exports US $ 700 million to India, Bangladesh with 100% duty free advantage has seen 115% increase in exports in last fiscal and Sri Lanka saw an increase of 13% with duty free access to 8 million pieces of garments.
7. Retail industry focused seminars :
that will debate and discuss concerns and ground realities of importing apparel by subject experts. For retailers/brands that have yet to take the plunge, the seminars are the place to be for all answers to the ‘why and how’ of imports.
8. Invite only networking dinner :
Scheduled on the first night, this exclusive opportunity will provide a platform to meet perspective business partners in an informal and relaxed environment. The team of ASW will make sure that the right set of people meet!
9. Show backed by 25 years of industry experience :
ASW is organised by Apparel Resources, the publishers of Apparel Online and Stitchworld. With a reputation for credibility, ASW is set on the same benchmarks that the company is known for.