October 2019 Edition Apparel October 2019 issue | Page 20

MARKET WATCH
Jaya Shree Textiles’ fabric brand Linen Club
expects to double its revenue to R1,500 crore
by 2024. For this, the brand will introduce many
new products. The brand’s present revenue
base ranges between R700 crore– R800 crore.
The Aditya Birla Group company also plans to
expand its operations in Tier II and III markets
through a cluster-based approach. It currently
has a couple of stores in the Middle East and
plans to open additional 400 stores in these
regions. It will also expand its presence to
around 11,000 multi-brand outlets (MBOs) from
the present 6,500 MBOs.
The company also has long-term plans to
introduce Linen Club in Western markets. It aims to
open design hubs in the United States (US)
and Europe.
Linen Club to Double Its
Revenue by 2024
Airport Retail Popular
among Indian Shoppers
Indian airports are witnessing a shopping boom
and retailers are leaving no stone unturned to
have passengers spend more time and money
at their stores. Luxury goods, apparel, footwear,
watches, accessories—everything is fair game at
the high-flying shelves of airport stores. By 2021,
duty-free spend at Indian airports will increase
eightfold over a decade. Over the last five years,
airport retail has been seeing an upward trend in
India. Privatisation of airports has allowed more
brands to leverage the opportunity to access a
highly segmented audience. Travel retail in India is
growing at a fast rate with local and international
brands seeking a retail presence across key
airports. This trend is expected to only accelerate
over the coming years.
Womenswear: Growing Choices, Higher Brands Play Catalyst
for Growth
The women’s apparel industry in India is riding a wave of momentum accelerated by relaxed dress codes, fabric
innovations, and fusion dressing.
A Technopak study reveals that western-wear takes up about 25 per cent of the R78,500 crore worth of the
womenswear market in India. In fact, the growth of this market is much higher than menswear, which is growing at nine
per cent in comparison. The market is flooded with unbranded smaller players with a share in women’s western-wear
segment, which is estimated to be below 25 per cent. However, the segment is expected to grow by a whopping 20
per cent to eventually cross 40 per cent by 2025.
Ashish Gurnani, Co-founder, PostFold, says, “The market will see a sixfold increase over the next decade. It is faring well
owing to the push provided by various e-commerce platforms. This negates the misconception that the branded market,
owing to its price range, has no takers.” Along with western-wear, denim, too, has gained popularity amongst women of all
ages, shapes, and sizes because of the comfort it provides, functional aspects, and durability.
Earlier known as the aspirational subcategory of ethnic wear, fusion-wear, too, has evolved into a separate category by
itself. Sreyashee Haldar, Design Head at W, points out, “In recent times, the fusion-wear segment has been flooded by
international brands that have slowly pushed up the aspiration levels and purchasing patterns of Indians. However, the
presence of these brands is restricted to western-wear. Increasing purchasing power of the mid to premium segment is
leading to many high-end designers launching their retail prêt sub-brands to push overall sales.”
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I APPAREL I
October 2019