Apparel September 2019 Apparel September 2019 issue | Page 79

INDUSTRY INSIGHTS
openings on a back-burner and now, with newer
entrants making their way into the market, it is
obvious that the brand is experiencing pressure
on its sales. Existing upmarket brands such as
GAP, Vero Moda, and the likes are likely to face
competition and register poor sales numbers in
the coming days.
The domestic ethnic wear market, too, is
growing to be a hopeful ground for retailers,
and with festivities knocking at the door, notable
ethnic wear brands like Biba, W, Lifestyle,
and others are witnessing a surge in sales.
Technopak has reported that ethnic wear is the
WITH FESTIVITIES KNOCKING AT
THE DOOR, NOTABLE ETHNIC
WEAR BRANDS LIKE BIBA, W,
LIFESTYLE, AND OTHERS ARE
WITNESSING A SURGE
IN SALES.
single biggest category in the Indian womenswear
segment, holding a market share of 71 per cent.
Presently, the ethnic wear market has reached
the R82,000 crore-mark, which is poised to hike
up to R1,26,210 crore by the end of 2019. The
increasing awareness for slow fashion, changing
clothing sensibilities, and the desire to own and
wear the latest trends has opened up newer
avenues in the retail sector. The plethora of
options to shop, the choice of buying from several
big and small retail names, and affordable pricing
are also greatly contributing to the retail boom
within the Indian apparel sector today.
Moreover, brands are also playing the
aspiration card and selecting popular celebrity
faces to boost their image. This is further helping
them in catering to a broader range of audiences
in Tier II and Tier III cities. In lieu of the growth
of the international luxury market, retailers of the
domestic market are also answering wise and
wide by adding newer stores to their name. The
time is certainly in favour of the apparel industry’s
retail domination in India.
APPAREL
I
September 2019
I
73