October 2019 Edition Apparel October 2019 issue | Page 24

MARKET WATCH
Trousers have been an important wardrobe
investment ever since the advent of western-wear
in India. Today, the trouser has come a long way
from its just functional roots to become a style-
defining piece. Especially in India, the traditional
mentality pertaining to trousers is finally witnessing
a revolution parallel to the young, modern person’s
penchant for trendy bottom-wear.
Value brands and private labels are growing
rapidly across segments as the consumers’
awareness of brands has increased substantially.
With many women entering the corporate
world, the formal trouser segment for women has
received a major boost. A growing number of
urban working women are embracing concepts
such as ‘board-room dressing’ and ‘business
dressing’ that involve an extensive use of formal
trousers. In the rural fashion market, the shift from
ethnic wear to western trousers shall contribute to
the growth of the trousers market.
For trousers, cotton-Lycra is one of the top-
selling fabrics, followed by linen and various
cellulose-based blends. In the coming future,
regenerated fabrics have the potential to be
popular. On the contrary, in the value market,
polyester-viscose blends have become a
standard substitute for classic wool or wool-
blended trousers.
Excerpted from IMAGES Business of Fashion
The Changing Dynamics of
the Trousers Segment
in India
Government Notifies
Changes to FDI in
Single-brand Retail
Recently, the Government formally notified
amendments to the FDI policy in single-brand
retail. Last month, the Cabinet had relaxed key
aspects of the 30 per cent local sourcing rules
applicable to single-brand retail entities, where
FDI is over 51 per cent.
A boost to foreign behemoths such as Apple,
IKEA, and H&M, single-brand retail entities can
now adjust their entire procurement of goods
from India for their global operations against
the mandatory 30 per cent local sourcing
requirements. Even sourcing for global operations
done through group companies (resident or non-
resident) or indirectly via third parties, such as
contract manufacturers, will be counted towards
domestic sourcing obligation.
Similarly, all procurements made from India, be
it for domestic sales or exports, by such an entity
will be counted towards local sourcing. Further,
single-brand retailers have now been permitted to
set up online stores before establishing bricks-
and-mortar stores, though they have to open
offline stores within two years of conducting
online business.
Excerpted from The Financial Express
We are Optimistic Slowdown Will Not Impact Us Directly:
Vasanth Kumar, MD, Lifestyle
Department store chain Lifestyle is positive about sales during the upcoming festive season and feels that the current
economic slowdown is not going to affect the retailer directly, as mentioned by a top executive of the company.
"We are optimistic that we will be doing very well in the festive season and the slowdown will not be affecting us
directly," said Vasanth Kumar, Managing Director (MD), Lifestyle.
The executive is hopeful of continuing the growth rate of 8–10 percent for the next few years to come.
Excerpted from Eretail.com
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I APPAREL I
October 2019