COVER STORY
Hot-selling products in Indian Retail Market
Trouser : Growing annually at around 30 – 35 per cent and expected to maintain a growth rate of CAGR 8 per cent from here on till 2023 , trouser is considered as one of the fastest growing segments . 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 .
Denim : Standing at mere US $ 2.8 billion in 2016 , the youth-driven Indian denim market is expected to grow at Compound Annual Growth Rate ( 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 .
Shirt : Shirts account for 12 per cent of the total market in which men ’ s shirts hold a percentage share of 94 per cent while women ’ s shirts makes 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 .
Knitwear : Of late , Indian fashion retail is witnessing a huge demand for knit 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 market share of 34 per cent while boys ’ and girls ’ sections attribute for 18 and 8 per cent , respectively .
T-Shirt : 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 . The size of the T-shirt market in India 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 T-shirts , Knit T-shirts , Henley T-shirts , Knit Tops , etc .
Jackets & Sweater / Winterwear : Initially a necessitybased market , rising lifestyle habits is giving a boost to winterwear , which in 2016 stood at US $ 2.45 billion and is expected to touch a whopping US $ 4.23 billion by 2026 , growing at compound annual growth rate ( CAGR ) of 6 per cent .
Innerwear / Intimatewear : Categorised into men ’ s and women ’ s , innerwear is a key segment of 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 .
Athleisure / Activewear : 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 of leggings , pyjama sets , jeggings , exercise pants , sports bra , etc ., is propelling the growth of athleisure / activewear market .
Being Human , etc ., are also quite successful in the domestic market . And there are hundreds of small brands too which are becoming popular . The major Indian companies that account for a large chunk of Indian retail are – Future Group , Arvind Brands , Reliance Retail , Shoppers Stop , Trent , V2Retail , V-Mart and Tristar Retail .
Arvind Lifestyle Brands is home to many 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 . In the meanwhile , Provogue ( India ) Limited , a public listed company is a menswear fashion brand of contemporary clothing available through more than 350 doors across 73 cities pan-India . Reliance Retail operates some 419 stores across India for top foreign brands including Marks & Spencer , Vision Express , Quiksilver , Diesel , and others .
On the other hand , the mass market has two major players – V-Mart and V2 Retail . 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 with smaller towns expected to be its key growth drivers . V2 Retail Ltd . is one of the fastest growing retail groups in India selling apparel and non-apparel products . Currently , V2 Retail Ltd . is managing over 5.56 lakh sq . ft . space with a turnover of Rs .
559.4 crore ( US $ 93.2 million ) in FY ’ 18 growing 19 per cent over FY ’ 17 .
Today , Tristar Retail Private Limited is recognised as one of the leading players in retail running branded stores across India . The company has established association with leading brands in India like Reebok , Levi ’ s , John Players and Levis Signature with 150 individual branded stores and presence across 47 cities and 9 states . Another retailer to watch out for is Trent that owns and manages a number of retail chains in India . The company runs lifestyle chain Westside , one of India ’ s largest and fastest growing chains of lifestyle retail stores . It has 73 stores across India , which offer clothes , footwear and accessories for men , women and children . Fashion Yatra represents the stores that bring quality fashion at low prices to value-conscious customers in towns across India .
Shoppers Stop Ltd . ( SSL ) is India ’ s prominent retail group and a pioneer in the organised retail industry in India with 74 stores in 33 cities . Shoppers Stop offers a wide assortment of national and international brands across categories such as fashion apparel , accessories , cosmetics , perfumes , home and kitchenware . With a strong business model , the company is well equipped for a stable growth trajectory . In FY 2014 – 15 , Shoppers Stop Ltd . achieved a gross retail turnover of Rs . 34.05 billion ( US $ 544 million ).
As India ’ s leading retailer , Future Retail Ltd . serves customers in 95 cities across the country through around 10 million sq . ft . of retail space . Under Future Fashion , the company owns a portfolio of 24 leading brands . Future Lifestyle
16 Apparel Online Bangladesh | October 2018 | www . apparelresources . com