Apparel Online Bangladesh Magazine October Issue 2018 | Page 15

COVER STORY
next two years. Zara is at about US
$ 140 million, M&S at about US $ 120
million and seems to be changing
strategies to achieve a better growth
like H&M. Even Gap is looking at
opening 50 more stores in the next
two years.
Other talked about activities include
the tie-up of Gap Inc, with Arvind
Group’s fashion portal NNNow.com
to sell its products online, which will
help the retailer expand its presence
beyond metros and Tier-1 cities.
Adidas India Private Limited has
outlined plans of opening around 30-
40 big flagship stores across Delhi,
Mumbai and Bangalore, by 2020.
In this environment, retail experts
are predicting that in the next
three years, over 50 more fashion
retailers will be in India. Some of the
brands that are looking at India are
Evisu Genes, a Japanese designer
clothing company that specialises
in producing denimwear; Massimo
Dutti, a premium fashion brand
from Spain offering sophisticated
womenswear, menswear, footwear
and accessories and New York-
based designer brand Kate Spade,
to be launched in India soon, which
specialises in womenswear like
dresses, tops and even athleisure.
Only recently, Uniqlo announced its
first store to open in Delhi in 2019.
Aéropostale, an American teen
fashion retailer, has chosen to enter
India over China, and expects India
to be among its top three markets
over the next four years with a
revenue target of Rs. 500 crore
(US $ 74.12 million). Ikea has
opened its first store in the city of
Hyderabad recently and future
stores are planned in Mumbai,
Delhi-NCR, Bangalore, Pune,
Surat, and Ahmedabad.
In fact, the list of investments
announced by foreign companies
is impressive. Women’secret and
Springfield are coming to India
through Tablez India, franchise
partner for Grupo Cortefiel in India
and Sri Lanka. Grupo Cortefiel India
expansion plans will take the brands
across major metros of India. Later
in the year, six more stores for both
the brands will open in India – two
in Bangalore, two in Mumbai and
two in Chennai. On the same lines,
by the end of 2018, Springfield will
open 9 stores and Women’secret will
open 12 stores in India with presence
in Bangalore, Mumbai and Delhi.
By 2021, the projection is to open 75
stores for both brands.
Selected Homme has been brought
in India by Selected and Bestseller
Retail India Pvt. Ltd. The brand offers
a subtle and interesting addition to
the premium menswear segment
with its impeccable tailoring. The
products include outerwear, blazers,
cardigans, jumpers, tailoring,
shirts, t-shirts, pants, shoes, jeans,
accessories, shorts, sweatshirts and
undergarments.
Apparel retailer Max Fashion is
mulling to double its turnover to
Rs. 5,000 crore (US $ 687 million) by
expanding the footprint of its retail
store network to 400 outlets in 120
cities. The retailer will invest almost
Rs. 400 crore (US $ 55 million) to open
new stores over the next four years.
Additionally, Max is also planning
to expand store numbers of its value
apparel retail format Easybuy. The
company will clock a turnover of
Rs. 2,400 crore (US $ 329 million)
as against Rs. 1,800 crore (US $ 247
million) in the prior fiscal, with an
aim to be a Rs. 5,000 crore company
(US $ 687 million) by fiscal 2021. Max
FA C T S
l
The
Indian fashion
retail market, currently
US $ 46 billion, is
expected to reach
US $ 115 billion by
2027 growing at a
promising CAGR of
9.7 per cent, which is
expected to create
huge opportunities for
Bangladesh.
l
India
is now the most
dynamic market with
a rapidly expanding
economy and a
consumption boom, as
per 2017 Global Retail
Development Index
report by AT Kearney.
l
Spending
on clothing
and footwear in total
consumer spending is
6.7 per cent , which is
higher than what is 3
per cent in US and 5.7
per cent in the UK.
l
The
Y-o-Y expenditure
growth in India at 12
per cent is more than
double the anticipated
global rate of 5 per
cent.
l
The
FDI norms
relaxation for single
brand retail including
relaxation of mandatory
local sourcing
requirement of 30 per
cent, is a major boost
for fast-fashion majors
to set up shops in India.
Fashion, which is owned by the
Dubai based Landmark Group,
currently operates 190 stores in
75 Indian cities.
Unfolding a new chapter in the Indian
fashion milieu, British designer Simon
Carter marks his India entry with the
launch of ‘Simon Carter’ menswear
brand. Aditya Birla Fashion and
Retail has signed an exclusive deal
with the brand for the same. The
Simon Carter menswear collection is
a playful mix of prints and colours,
tailored fit for the modern man to give
them a sense of exuberance and style.
In the luxury market, from Armani
to Chanel and Ermenegildo Zegna
to Versace, each has created
establishments in the country. Neil
Barrett, one of the leading Italian
fashion brands, has forayed into
the Indian market by establishing
its retail presence through an
exclusive partnership with Fervour,
a multi-brand boutique that stocks
international designer brands. Textile
major Arvind Limited has announced
a partnership with Sephora, owned by
LVMH Moet Hennessy Louis Vuitton,
a French luxury conglomerate, in
order to enter into the beauty and
cosmetics segment. Additionally,
the already existing brands such
as Gucci, Armani, Hugo Boss,
Louis Vuitton, Hermes, Jimmy Choo
etc., are eyeing the Indian market
with renewed, country-specific,
localised strategies.
Indian Retailers/Brands on
a roll…
On the other hand, Indian brands,
such as Fabindia, India’s largest
private platform for products that are
made from traditional techniques,
skills and hand-based processes; W,
BIBA, AND, Allen Solly, Van Heusen,
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