03 August 2023, Mumbai

In recent years, fast fashion brands have faced growing pressure to embrace sustainability and environmental responsibility

What is fast fashion?

However, critics argue that many of these brands are merely paying lip service to the cause while engaging in deceptive marketing tactics to create a facade of sustainability

What all you need to know

What is greenwashing?

A study conducted by the Changing Markets Foundation has shed light on the disturbing trend of greenwashing, revealing that several prominent fast fashion brands, such as Shein, H&M, and Inditex, are guilty of misleading consumers with false claims about their eco-friendly practices.

Examples of greenwashing in fast fashion

One of the most glaring examples of greenwashing came to light when Shein boasted that 64% of its textiles were derived from recycled materials. The study, however, revealed that this figure was vastly exaggerated, with the actual proportion being closer to a meager 1%.

Shein's greenwashing claims

Similarly, H&M, a brand that has pledged to transition to 100% recycled polyester by 2025, was found to have only 33% of its winter 2022 collection made from recycled polyester.

H&M's greenwashing claims

These revelations expose the disturbing reality that some fast fashion brands are more interested in capitalizing on the growing demand for sustainable products rather than genuinely implementing sustainable practices.

The motivations behind greenwashing

As consumers increasingly prioritize eco-conscious choices, greenwashing becomes an attractive strategy for these brands to maintain their market share and appeal to sustainability-minded customers.

Amidst this disheartening scenario, there are commendable exceptions among fast fashion brands genuinely embracing sustainability.

Examples of sustainable fast fashion brands

One shining example is the Italian fabric manufacturer Manteco SpA, which exclusively utilizes recycled wool in its production process. 

The company's approach involves a straightforward recycling method, including manual garment stripping, mechanical shredding of scraps, and blending the fibers with color before spinning them into the fabric.

As a result, Manteco's recycled wool boasts a significantly lower carbon footprint compared to virgin wool, showcasing the brand's commitment to reducing environmental impact.

While the emergence of eco-friendly practices in the fast fashion industry is a positive development, consumers must remain vigilant about the prevalence of greenwashing.

How to avoid greenwashing

The responsibility lies with shoppers to conduct thorough research before buying products from fast fashion brands, scrutinizing marketing claims that may seem too good to be true. 

By cultivating a critical eye, consumers can demand transparency and accountability from brands, discouraging greenwashing practices.

Quick Message

Honest environmental marketing or greenwashing. Where is the line?

The issue of greenwashing in fast fashion is a pressing concern that demands attention and action. As the demand for sustainable products grows, brands must prioritize genuine sustainability efforts over deceptive marketing strategies.

Consumers have the power to shape the future of the fashion industry by making informed choices and supporting brands that truly prioritize environmental responsibility.

By holding fast fashion brands accountable for their claims and supporting those committed to sustainable practices, we can encourage positive change and promote a more environmentally conscious fashion landscape.

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31 July 2023, Mumbai

Growing Popularity and Market Trends

The global shapewear market is experiencing steady growth at a rate of eight percent per year. 

This includes various products such as bodysuits, corsets, control tights, control panties, control slips, girdles, and slimming camisoles. 

Shapewear has gained popularity as people increasingly seek to achieve the ideal body shape and adhere to societal beauty standards, leading to rising demand for these products.

What all you need to know

Insights to Empower Stakeholders

The report offers valuable insights for stakeholders, including in-depth analyses of market trends, regional and global markets, key players, market segments, competitive scenarios, sales areas, and growth strategies. 

Investors can capitalize on the quantitative data from 2020 to 2030 to identify lucrative opportunities within the compression wear and shapewear market.

The compression wear segment takes center stage, commanding over 70% of the market's revenue. Its popularity primarily stems from its extensive use among professional athletes and individuals engaging in recreational exercises.

Male and Female Market Segments

The report highlights the current dominance of the male user segment, largely driven by their higher adoption of compression wear, especially during workouts. 

On the other hand, the female consumer segment is expected to witness the highest growth rate, driven by an increased female interest in fitness, and sports activities, and the availability of women-specific product lines from major brands.

Versatile Solution for Body Shaping

Shapewear serves as a convenient alternative to going to the gym or adopting strict diets to achieve a slimmer appearance. Both women and men are embracing shapewear to enhance their body figures and address body deformities. 

These shaping undergarments have become a popular trend in the fashion industry, with specific designs targeting areas like the stomach, waist, hips, and thighs.

Unraveling the Dynamics and Trends

Allied Market Research's latest report, titled "Compression Wear and Shapewear Market by Product Type, Gender, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030," presents an extensive study that delves into various facets of the compression wear and shapewear market. 

The report covers crucial aspects like top investment prospects, successful strategies, drivers, opportunities, market size estimations, competitive landscape, and emerging market trends.

Distribution Channels and Market Penetration

Currently, specialty retail stores account for the highest revenue share among distribution channels. 

However, online sales are projected to witness significant growth in the coming years, driven by wider product availability and increased internet penetration in Asia-Pacific and LAMEA regions.

Material and Market Growth

Synthetic materials like neoprene, spandex, and lycra contribute to the flexibility and elasticity of shapewear, driving its popularity further. 

The compression wear and shapewear market, growing at a CAGR of seven percent annually, continues to witness demand owing to its instantaneous ability to provide an optimal figure and body posture.

Application Insights and Revenue Share

The performance and recovery segment lead in terms of revenue share, owing to extensive usage of compression wear for injury prevention, improved blood circulation, and faster recovery.

Factors Driving Market Growth

Factors such as changing lifestyles, increased disposable income, advancements in fabrics and garment designs, and the surge in demand from the geriatric population contribute to the growth of the compression wear and shapewear market. 

Male users are leading the market, particularly due to their preference for compression garments during workouts. 

The women's segment is also growing, driven by interest in fitness, comfort, and increased participation in sports.

Market Share and Distribution Channels

North America holds the largest market share at approximately 42 percent. 

Among distribution channels, specialty retail stores dominate with a revenue share of 62 percent, boasting a wide range of compression wear and shapewear products. 

The performance and recovery segment contributes significantly to revenue, thanks to the extensive usage of compression wear for injury prevention and improved blood circulation.

Challenges in the Indian Shapewear Market

In contrast to earlier trends, the shapewear market in India is facing a decline. Consumers are now prioritizing individualistic apparel styles over conforming to traditional beauty standards. 

The fashion industry is adapting to set new beauty standards that embrace diverse body shapes and looks beyond unrealistic ideals.

Promoting Body Positivity

To address body issues effectively, the fashion industry needs to encourage body positivity from a young age. 

By promoting body acceptance and inclusivity in schools and homes, the industry can foster a healthier and more positive outlook toward different body types.

Addressing Health Challenges

While the market exhibits promising potential, it also faces challenges related to tightly-worn compression and shapewear. 

Concerns such as blood clots, breathing problems, and acid reflux require careful attention and solutions.

Factors Fueling Market Growth

The market's impressive growth can be attributed to several influential factors. 

These include the increasing disposable income among consumers, advancements in fabric technology and garment designs, the surging popularity of compression wear among the elderly, evolving lifestyles, and the rising demand for compression wear in the fitness industry.

Insights into Compression Wear Dominance and Shifting Consumer Preferences

The global shapewear market witnesses steady 8% annual growth, fueled by the dominance of compression wear and a rising demand driven by beauty standards.

The report provides valuable insights for stakeholders, highlighting growth strategies and lucrative opportunities. Male users currently lead the market, while the female segment shows high growth potential, particularly with women-specific product lines.

Shapewear gains popularity in the fashion industry as a convenient body-shaping option.

Specialty retail stores dominate distribution, but online sales are poised to surge with increased internet penetration.

Market growth is bolstered by synthetic materials and various applications.

Factors like changing lifestyles, disposable income, and fabric advancements contribute to market expansion, with North America holding the largest market share.

Meanwhile, the Indian shapewear market faces challenges and emphasizes the importance of promoting body positivity and addressing health concerns for sustainable growth.

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26 July 2023, Mumbai

The Indian kids' apparel market has demonstrated significant growth, reaching a substantial US$ 21.1 Billion in 2022. 

Projections indicate further expansion, with expectations to reach US$ 24.5 Billion by 2028, reflecting a robust Compound Annual Growth Rate (CAGR) of 2.6% during the period of 2023-2028, as per IMARC Group's analysis.

What all you need to know

Perspective

Indian kids' apparel market thriving

Key drivers: rising disposable income, e-commerce, sustainable fashion, and social media influence.

Online shopping

sustainable practices

and

Trendy designs shape the market's bright future, attracting investors and industry players.

Trends and Growth Drivers in India's Kids' Wear Market

The Indian kids' wear market witnessed impressive growth, reaching a value of $16.62 billion in 2020. 

Forecasts indicate a promising future, with a projected Compound Annual Growth Rate (CAGR) of 5.89% through 2026, expected to propel the market to $22.53 billion by 2026, as per ReportsAndMarkets.com study. Several factors contribute to this upward trend.

Growing Demand Driven by Rising Disposable Income and Changing Lifestyles

The rising disposable income of Indian families, coupled with evolving lifestyles, is fueling the demand for kids' wear. 

As parents have more financial flexibility, they are more willing to invest in high-quality and stylish clothing for their children, contributing to the market's growth.

Distribution Channels and Retail Trends

The kids' wear market is categorized based on gender, category, season, sector, distribution channel, and competition. 

Among distribution channels, multi-brand retail outlets held a significant share of 1/3rd in FY2020, a trend expected to continue until 2026. 

Additionally, e-commerce platforms, such as Amazon, Walmart, and Target, are increasingly favored by kids for their convenience and wide product offerings.

Sustainable and Organic Fashion

Growing environmental consciousness has led to a rising interest in sustainable and organic children's clothing. Older parents, with higher disposable incomes, are more inclined to invest in premium designer outfits made of organic and natural fibers or recycled materials for their kids.

Performance Features and Preferences

Parents prefer performance features like shrink resistance, stain resistance, fade resistance, odor resistance, and durability in their children's clothes. 

These features influence parents to spend more on clothing that ensures long-lasting quality and convenience.

Influence of Kids and Online Shopping

The children's wear industry is experiencing a shift as kids have a growing influence on clothing choices. 

Brands are advised to consult kids while developing clothing assortments to align with their preferences. While parents still prefer offline stores for fitting and browsing, kids increasingly lean towards online platforms like Amazon, where they find diverse options and products.

Changing Fashion Trends

Denim clothing, especially in washed blue jeans, colored denim jackets, and distressed or embellished styles, is gaining popularity among kids. 

Additionally, knitwear is becoming preferred over woven garments due to its variety and comfort.

The Future of India's Kids' Wear Market

With the growth drivers of increasing disposable income, changing lifestyles, and a surge in online shopping, India's kids' wear market is set for exponential growth. 

Sustainable and organic fashion trends, along with performance-oriented features, will continue to influence consumer choices, making it vital for retailers and brands to adapt to the evolving preferences of parents and kids alike.

Rising disposable income

One of the key factors contributing to the market's expansion is the rise in disposable incomes among Indian families. 

As disposable incomes increase, parents are more willing to spend on high-quality clothing for their children. 

This growing purchasing power has facilitated the demand for kids' wear that prioritizes comfort and safety while offering a diverse range of clothing suitable for various occasions, including casual, formal, and festive events. 

Manufacturers have recognized this trend and are capitalizing on it by providing an array of materials, styles, and colors to cater to the diverse needs of young consumers.

Growth levers

Another pivotal driver of growth is the pervasive influence of social media and smartphones. The younger generation is increasingly exposed to fashion trends and styles through these digital platforms. 

Consequently, they develop a preference for fashionable clothing, prompting parents to invest in trendy and branded kids' apparel. 

Moreover, collaborations with popular cartoon characters have proven successful in captivating young consumers, leading to an increased demand for apparel featuring beloved fictional figures.

Sustainable clothing

In recent times, there has been a growing emphasis on sustainable fashion in the kids' wear segment. 

Consumers, including parents, are becoming more environmentally conscious and are seeking eco-friendly clothing options. 

This shift in consumer behavior has encouraged manufacturers to incorporate sustainable practices, such as using organic and recycled materials, into their production processes. 

As the market continues to prioritize eco-friendly choices, sustainable kids' wear is anticipated to witness significant growth.

Tailwinds

Furthermore, the expansion of e-commerce platforms has provided a tailwind to the Indian kids' wear market. Online shopping offers the convenience of browsing a wide selection of products, comparing prices, and making purchases from the comfort of one's home. 

This convenience has greatly appealed to busy parents and has facilitated access to a variety of kids' wear options. 

As e-commerce platforms continue to evolve and expand, the market is likely to experience further growth and meet the evolving preferences and demands of young consumers.

Synopsis

the growth of India's kids' apparel market can be attributed to multiple factors, including rising disposable incomes, social media influence, and the adoption of sustainable practices. 

The expansion of e-commerce platforms further supports the market's upward trajectory, making it an enticing prospect for manufacturers and investors alike.

Remarkably, the kids' wear segment has already established a significant presence within India's apparel market. 

This segment's impressive growth is anticipated to continue, as it is predicted to reach nearly Rs 1.7 trillion by 2028.

With such promising prospects, the Indian kids' apparel market presents lucrative opportunities for investors and industry players alike, driven by evolving fashion trends, rising disposable incomes, and a growing focus on children's clothing preferences.

Latest Textile Events

02 August 2023, Mumbai

This versatile fiber is strong, durable, and eco-friendly.

• Sustainable: Hemp fiber is a sustainable fiber because it requires less water and land to grow than other fiber crops, and it does not require the use of pesticides or fertilizers.
• Versatile: Key applications; Hemp fiber can be used to make a variety of products, including clothing, paper, fabrics, paper, cordages, building materials, and insulation.
• Eco-friendly: Hemp fiber is an eco-friendly fiber because it does not require the use of pesticides or fertilizers, and it is biodegradable.

This makes it a much more sustainable option than cotton, which is the most widely used fiber in the world.

What all you need to know

Benefits of Hemp Fiber

Hemp fiber is a promising solution for a sustainable future that is more competitive Vs many other fibers. 

Hemp is a sustainable fiber that can help to reduce the environmental impact of the fashion industry.

Challenges of Hemp Fiber

A closer look

Cultivation and processing; There are some concerns about the cultivation and processing of hemp fiber. 

In certain regions, the approval of highly hazardous pesticides for use on hemp crops poses environmental risks. Furthermore, the lack of clear guidelines for fertilizers could potentially lead to contamination.

Lack of awareness

Hemp fiber is not as widely known as other fiber crops, such as cotton. This lack of awareness could hinder the adoption of hemp fiber by businesses and consumers.

Sum up

Despite the challenges, the future of hemp fiber looks bright. As consciousness regarding sustainability increases, more and more brands are incorporating hemp fiber into their collections. 

The growing demand for sustainable textiles offers an opportunity for hemp to emerge as a major part of the solution to the environmental problems associated with the fashion industry.

Other Sustainable Fibers

In addition to hemp, there are a number of other sustainable fibers that are gaining popularity. 

These include:

Stinging nettle fiber

This versatile fiber can be used to make a variety of products, including clothing, paper, and insulation.

Coffee ground fiber

This unique material is made from recycled coffee grounds and boasts qualities like softness, absorbency, and odor resistance.

Piñatex

This vegan leather alternative is made from pineapple leaves and is strong, durable, and water-resistant.

Banana fiber

This strong and durable fiber is sourced from the banana plant and can be used to make a range of products, including clothing, bags, and paper.

Lotus fiber

This lightweight fiber is derived from the lotus plant and is resistant to water and UV rays.

These are just a few of the many sustainable fibers that are available. As the demand for sustainable textiles grows.

Latest Textile Events

28 July 2023, Mumbai 

Gone are the days when Tier II city consumers traveled to metros or Tier I cities for their fashion fix. Now, the glamour of fashion is thriving in Tier II cities all over India.

What all you need to know

Context Setting

Fashion's allure has shifted from metros to Tier II cities in India, fueled by retail growth and e-commerce.

Young urbanites with higher disposable incomes are embracing fusion, western, and contemporary styles.

With staggering annual growth and mobile influence, Tier II cities are set to shape India's fashion renaissance, propelling established and aspiring brands to success.

Retail Sector Boom and E-commerce Drive Fashion Growth

Thanks to the expansion of commercial retail and the rise of e-commerce, Tier II cities have become significant players in the fashion industry.

The once-exclusive domains of fashion, such as high streets, malls, fashion launches, and events, are now finding a home in cities like Goa, Jaipur, Vadodara, Thane, Coimbatore, and Chandigarh.

Fashion Breaks Free from Metros

The local fashion sector has broken free from its previous dependence on metros and Tier I cities.

With a burgeoning population of young individuals with higher disposable incomes, Tier II cities have become hotspots for the pursuit of a fashionable lifestyle. While traditional Indian ethnic wear remains popular, fusion wear, western styles, and contemporary fashion are also gaining traction, and major brands are taking notice.

Staggering Growth and Mobile Influence

The fashion market in Tier II cities is witnessing staggering annual growth rates of 12-14 percent, according to a KPMG report in collaboration with Facebook India. The mobile influence on fashion retail is predicted to soar by 2022, with Facebook playing a significant role in driving sales opportunities.

Fashion Retail's Future Lies in Tier II and III Cities

The growth of fashion retail entities in India is projected to be around 45 percent year-on-year in FY 2023, and Tier II and III cities are poised to play a crucial role in this expansion. As mobile networks and online shopping platforms reach deeper into rural areas, a vast untapped market is being unlocked.

E-commerce Drives Perception Change

Social media, local influencers, and digital-savvy fashion brands have led the charge in changing perceptions of clothing and style across India's Tier II and III cities. Local fashion events and booming e-commerce have further propelled this change, providing easy access to trendy clothing and accessories.

India's Fashion Renaissance

As India moves towards becoming the fifth-largest world economy, the fashion revolution sweeping across Tier II and III cities is a bright spot on its path to success. Not only have these cities expanded the market for established labels, but they have also nurtured aspiring fashion brands and designers, creating their loyal customer bases.

The future of fashion in India is promising, with Tier II cities taking center stage in this vibrant style renaissance.

Gone are the days when Tier II city consumers traveled to metros or Tier I cities for their fashion fix. Now, the glamour of fashion is thriving in Tier II cities all over India.

Retail Sector Boom and E-commerce Drive Fashion Growth

Thanks to the expansion of commercial retail and the rise of e-commerce, Tier II cities have become significant players in the fashion industry. The once-exclusive domains of fashion, such as high streets, malls, fashion launches, and events, are now finding a home in cities like Goa, Jaipur, Vadodara, Thane, Coimbatore, and Chandigarh.

Fashion Breaks Free from Metros

The local fashion sector has broken free from its previous dependence on metros and Tier I cities. With a burgeoning population of young individuals with higher disposable incomes, Tier II cities have become hotspots for the pursuit of a fashionable lifestyle.

While traditional Indian ethnic wear remains popular, fusion wear, western styles, and contemporary fashion are also gaining traction, and major brands are taking notice.

Staggering Growth and Mobile Influence

The fashion market in Tier II cities is witnessing staggering annual growth rates of 12-14 percent, according to a KPMG report in collaboration with Facebook India. The mobile influence on fashion retail is predicted to soar by 2022, with Facebook playing a significant role in driving sales opportunities.

Fashion Retail's Future Lies in Tier II and III Cities

The growth of fashion retail entities in India is projected to be around 45 percent year-on-year in FY 2023, and Tier II and III cities are poised to play a crucial role in this expansion.

As mobile networks and online shopping platforms reach deeper into rural areas, a vast untapped market is being unlocked.

E-commerce Drives Perception Change

Social media, local influencers, and digital-savvy fashion brands have led the charge in changing perceptions of clothing and style across India's Tier II and III cities.

Local fashion events and booming e-commerce have further propelled this change, providing easy access to trendy clothing and accessories.

India's Fashion Renaissance

As India moves towards becoming the fifth-largest world economy, the fashion revolution sweeping across Tier II and III cities is a bright spot on its path to success.

Not only have these cities expanded the market for established labels, but they have also nurtured aspiring fashion brands and designers, creating their loyal customer bases. The future of fashion in India is promising, with Tier II cities taking center stage in this vibrant style renaissance.

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25 July 2023, Mumbai

Prologue:

The swimwear/beachwear market is experiencing remarkable global growth, fueled by a rising interest in water sports, beachside leisure activities, and a growing emphasis on fitness and aquatic pursuits.

This comprehensive analysis delves into the dynamic industry, exploring its evolving trends and cultural adaptations.

What all you need to know

Market Growth and Projections:

The global beachwear market is booming, valued at $19.8 billion in 2022, is projected to surge to $30.9 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period from 2023 to 2032. 

Evolving from function to fashion, beachwear now offers trendy styles and materials suitable for water sports and leisure. Women's beachwear dominates, but men's options are on the rise.

Key players and market segmentation play crucial roles in shaping this growing industry. As consumer preferences evolve, the market's future lies in strategic partnerships, innovative designs, and cultural inclusivity.

Evolving Beachwear: From Function to Fashion

Beachwear has transcended its traditional role for swimming and water activities, transforming into a fashion statement.

Modern swimsuits now offer various body coverage options and employ materials like polyester, nylon, spandex, and blended fabrics to ensure flexibility and resistance to elements like sun, chlorine, and salt water.

Women's Beachwear: Fashionable and Functional:

The women's beachwear segment dominates the market, providing an extensive range of options, including vibrant colors, asymmetrical designs, African and geometric prints, and classic yet contemporary silhouettes. 

Luxury beachwear brands cater to consumers seeking trendy prints and flattering effects, successfully blending functionality with style.

Men's Beachwear: A Growing Trend:

The men's beachwear market is experiencing significant growth, driven by changing trends. 

Beachwear options double as both beachwear and sportswear are gaining popularity, and specialized vendors are introducing innovative products to attract new consumers.

Market Segmentation:

The beachwear market is segmented based on fabric, end user, distribution channel, and region. Fabrics include polyester, nylon, neoprene, spandex, and others. 

End users comprise women, men, and children, while distribution channels encompass online and offline retail.

Key Players:

Key players in the beachwear market include Haddow Group Plc, Nike Inc., Boardriders, Inc., Arena Italia S.p.A., Beachwear Anywhere, Inc., Adidas AG, Dick’s Sporting Goods, Gap Inc., Phillips-Van Heusen Corporation (PVH Corp.), and Perry Ellis International Inc.

Key Findings:

The neoprene segment is projected to witness the highest CAGR of 6.2% in revenue terms during the forecast period.

The women's segment is expected to register the highest CAGR of 4.3% in revenue terms during the forecast period.

The online segment is projected to witness the highest CAGR of 6.0% in revenue terms during the forecast period.

The U.S. was the largest revenue-generating country for the beachwear market in 2022.

Asia-Pacific is anticipated to witness the highest growth rate, registering a CAGR of 5.4% from 2023 to 2032.

Future Prospects:

The beachwear market's growth is expected to continue, propelled by the increasing popularity of water-based recreational activities, advancements in fabric technologies, and the growing acceptance of fashionable beachwear. Strategic partnerships, mergers, and acquisitions will play a pivotal role in shaping the market's future landscape.

Epilogue:

The beachwear market is witnessing robust growth, driven by evolving consumer preferences, fashion trends, and a burgeoning interest in water-based activities. With innovative designs and an inclusive approach to cultural preferences, the industry caters to a diverse global audience. 

As the market continues to expand, industry players have the opportunity to seize new avenues and excel in this competitive and ever-changing landscape.

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01 August 2023, Mumbai

The Growth of Global Luxury Apparel Market

Between 2016 and 2024, the global luxury apparel market is expected to experience remarkable growth, expanding at a Compound Annual Growth Rate (CAGR) of 13.2%. 

This growth is driven by the increasing affordability of luxury apparel, which can be attributed to the shift towards mass production of goods, revolutionizing traditional 19th-century dressmaking methods.

What all you need to know

Backdrop

Market Research Future's latest report, "Luxury Apparel Market Information By Type, Consumer Group, Gender, Distribution Channel, And Region - Forecast till 2030," provides valuable insights into the global luxury apparel market. 

The report projects the market to reach USD 139.2 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 3.23% from 2023 to 2030.

The Transformation of Luxury Apparel Affordability and Expanding Customer Base

Growth Kickers: E-Commerce Penetration and Increased Sales

The increasing penetration of e-commerce has been a significant driver of market growth. Luxury apparel brands have strategically embraced online platforms to reach a broader audience, resulting in heightened sales. 

The convenience of online shopping, coupled with a vast product selection, has made luxury apparel more accessible to a larger customer base.

Big Brands' Expansion and New Consumer Base

Renowned luxury brands like Louis Vuitton, Prada, and Versace are leading the way by expanding into developing economies. 

This strategic move not only enhances their geographical reach but also taps into a newer consumer base. 

As a result, these brands are enjoying increased market presence and growth opportunities beyond traditional markets.

Opportunities: Uniqueness and Exclusivity in High Demand

Luxury apparel brands have identified robust opportunities by capitalizing on consumers' desire for uniqueness and exclusivity. 

By producing limited quantities, collaborating with renowned designers, and using precious materials, these brands cater to discerning customers seeking exclusive products not readily available to the general public. 

The allure of owning rare and sought-after fashion items enables consumers to showcase their refined taste and elevate their social status.

Restraints and Challenges: Limited Accessibility and Fashion Awareness

Despite the growth potential, certain factors act as market restraints. In low-income countries and rural areas, luxury apparel faces limited accessibility due to logistical challenges and lower purchasing power. 

Additionally, a lack of fashion awareness among consumers in certain regions may dampen market growth during the forecast period.

COVID-19 Impact: Navigating Economic Downturn and Resale Trend

The global pandemic, COVID-19, significantly impacted the luxury apparel market. Lockdowns and restrictions on social gatherings reduced the demand for luxury clothing as people shifted priorities during uncertain times. 

However, the market witnessed a trend of luxury resale in the worldwide market, facilitated by stimulus funds in industrialized nations. 

This provided a cushion in personal budgets, allowing consumers to invest in luxury items despite the economic challenges.

Market Segmentation

The luxury apparel market is segmented based on distribution channel, gender, consumer group, and type. Clothing remains the leading segment in terms of type, while Gen X dominates the consumer group category. 

The female gender continues to spearhead the market, and offline channels retain a commanding position in the distribution.

Regional Analysis: Asia-Pacific and Europe Leading the Way

Asia-Pacific (APAC) currently holds the largest market share, primarily driven by the substantial populations and rising incomes of China, India, and Japan. 

The preferences of millennials and Generation Z for luxury products have contributed to market growth in these countries. 

Europe closely follows APAC, boasting several luxury fashion companies and attracting millions of tourists annually. 

The region's reputation for premium-quality goods, including luxury apparel, has justified premium pricing and aided market expansion.

Esteemed Clientele and Outreach to Broader Customer Range

The luxury apparel market proudly caters to an esteemed clientele, primarily comprising high-net-worth individuals seeking exclusive and premium products. 

However, in recent years, a notable trend has emerged as several designers and fashion brands reach out to a broader range of customers by offering more affordable luxury products.

Short message

The luxury apparel market is well-positioned for sustainable growth until 2030, supported by factors like increasing e-commerce penetration, the aspiration for exclusivity, and expanding markets in Asia-Pacific and Europe. 

While challenges such as limited accessibility in certain regions exist, the industry's adaptability and resilience are evident through the shift to online platforms and the emergence of the luxury resale trend during the COVID-19 pandemic. 

To capitalize on the opportunities presented, luxury apparel brands should continue to prioritize uniqueness, exclusivity, and an enhanced online shopping experience to meet evolving consumer demands in the years to come.

Gist 

The global luxury apparel market is expected to grow significantly in the next few years, driven by factors such as increasing e-commerce penetration, the aspiration for exclusivity, and expanding markets in Asia-Pacific and Europe.

• The luxury apparel market is expected to grow at a CAGR of 3.23% from 2023 to 2030.
• This growth is being driven by a number of factors, including:
  • The increasing penetration of e-commerce, which has made luxury apparel more accessible to a wider audience.
  • The aspiration for exclusivity, as consumers increasingly seek out unique and rare luxury items.
  • The expanding markets in Asia-Pacific and Europe, where there is a growing demand for luxury goods.
• While there are some challenges to growth, such as limited accessibility in certain regions, the industry is adapting and evolving to meet the needs of consumers.
• Luxury apparel brands that prioritize uniqueness, exclusivity, and an enhanced online shopping experience are well-positioned to capitalize on the opportunities presented in the coming years.

CREDITS: Market Research Future (MRFR) report

Latest Textile Events

27 July 2023, Mumbai

Bollywood Buzz: Global Rise of Indian Ethnic Wear

The global rise of Indian ethnic wear is driven by Bollywood's influence & grandeur, international celebrities embracing Indian fashion, and Indian events held abroad.

The influence of India's clothing styles has transcended borders, thanks to Indian events held abroad, and international celebrities embracing Indian fashion.

What all you need to know

Empirical

The Indian Ethnic Co achieved remarkable success in around 50 countries. Research indicates steady growth in the ethnic wear market, with the women's segment expected to grow rapidly. Major retailers introduced ethnic wear collections to cater to rising demand.

The Middle East presents significant opportunities due to interest in modest fashion and cultural values.

Sustainable practices and e-commerce have made Indian ethnic wear accessible globally, and the festive season boosts sales. As the industry expands, the impact of Indian ethnic wear on the global fashion scene is expected to endure.

Jennifer Aniston Sparks Global Fashion Buzz

Jennifer Aniston's appearance in an ivory lehenga-choli designed by Manish Malhotra for the movie Murder Mystery 2 caught the attention of fashion enthusiasts worldwide.

Sabyasachi's New York Debut

Indian fashion icon Sabyasachi opened his first store in New York's West Village, featuring authentic and maximalist Indian ethnic wear that exudes a sense of pride in India.

Growing Global Demand

The popularity of Indian ethnic wear has led to homegrown brands expanding their presence worldwide. 

Fabindia introduced FabNu, a women's wear line catering to customers of Indian descent and those who appreciate Indian fashion styles.

Kalki Fashion's Niche Success

Kalki Fashion, founded by Nishit Gupta, has found success globally, even reaching customers in remote countries like Norway. The brand's innovative approach, such as video shopping through online trunk shows, has attracted a diverse non-Indian customer base.

Ethnic Wear's Global Reach

The Mumbai-based brand, The Indian Ethnic Co, founded by Hetal and Lekhinee Desai, has achieved remarkable success, selling its clothing to around 50 countries worldwide.

Global Market Insights

A study by ResearchAndMarkets.com reveals that the ethnic wear market is growing at a steady rate, with offline retail still accounting for the largest revenue share. 

The women's segment is expected to witness the fastest growth.

Global Brands Embrace Indian Ethnic Wear

Major retailers and global brands have recognized the demand for ethnic wear and have introduced ethnic wear collections in their product lines, often using online distribution channels to reach a wider audience.

Middle East: A Lucrative Market

The Middle East presents significant opportunities for the ethnic wear market, with a growing interest in modest fashion and homegrown labels that reflect cultural values.

Growing Indian Ethnic Wear Industry

Indian ethnic wear start-ups and businesses are flourishing, gaining popularity both domestically and internationally. 

The demand for these authentic handcrafted pieces is on the rise.

Sustainable Fashion at the Forefront

Brands like The Indian Ethnic Co are focused on responsible and sustainable fashion, utilizing handcrafted fabrics and working with artisans from various regions of India.

E-commerce Boosts Access

E-commerce has played a crucial role in making Indian ethnic wear accessible to global consumers without the need for expensive physical outlets.

Festive Season Boosts Sales

The festive and wedding season has witnessed a surge in demand for occasionwear and ethnic wear, leading to increased sales for many brands both offline and online.

The Influence and Expansion

India's ethnic wear has found its way into the global fashion scene, captivating people from diverse backgrounds. 

With the rise of e-commerce and sustainable fashion practices, the Indian ethnic wear market is expected to continue its global expansion and impact.

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24 July 2023, Mumbai

Tirupur, a leading textile hub in India, aims to achieve a remarkable 40% growth in exports within the next three years, focusing primarily on active wear. 

Birds's eye view

Tirupur, India's textile hub, targets 40% export growth in activewear. Dope-dyed polyester yarns are a game-changer. Investors flock to the thriving DTC activewear market.

Athleisure remains a bright spot in the apparel industry, attracting brands and investors worldwide.

To accomplish this ambitious goal, knitters, dyers, processors, machine suppliers, dyes, and chemical suppliers must work collaboratively to make Tirupur a global sourcing hub for activewear products. 

Consumers are increasingly shifting from conventional clothing to high-performance, flexible, breathable, and versatile apparel made from polyester filament yarns, drawn by the performance and comfort benefits of activewear.

The Game Changer: Dope Dyed Polyester Filament Yarns

Dope-dyed polyester filament yarns and related technologies could prove to be a game changer for Tirupur. 

Exporters can leverage Techno Sportswear's state-of-the-art lab facilities to analyze their buyers' fabrics, paving the way for even more growth. 

The knitwear industry is also being encouraged to diversify into manmade fiber rapidly, with promising signals indicating a revival of knitted apparel exports in the near future.

Time for Investments in Technology and R&D

Tirupur exporters are urged to seize the opportunity and invest in technology, research, and development to reap the maximum benefits of the production-linked scheme's (PLI) second edition. 

With the upcoming trade agreement between India and the UK, garment exporters are hopeful of receiving more orders, expecting a 30% growth in orders throughout the year.

The Pandemic Boosted the Active Wear Trend

While the pandemic had a negative impact on the clothing industry as a whole, activewear emerged as a bright spot. It's popularity and staying power are evident as the market is projected to reach USD 276.61 billion in the next six years. 

Active lifestyles, coupled with the benefits of activewear such as quick-drying, thermal resistance, breathability, chemical resistance, and static resistance, have been driving the market's positive trajectory. 

However, counterfeit products and volatile raw material costs pose challenges to the global activewear market.

Activewear: Fashionably Fun and Inclusive

One of the key drivers of the segment's growth is how sports and lifestyle brands have made activewear a fashion statement. Reputable brands like Nike, Reebok, Puma, and Lululemon are driving the trend, offering sustainable, durable, and premium-quality fabrics that cater to diverse body types. 

Luxury brands like Gucci and Stella McCartney have also recognized the potential and are creating exclusive activewear lines.

Retail and E-commerce: Both Thriving Platforms

The accessibility of activewear through both retail stores and e-commerce channels has contributed to its popularity. 

Retail outlets are gaining popularity due to the visual appeal of brand stories and the ease of fittings. 

On the other hand, e-commerce, which surged during the pandemic, remains a popular channel for purchasing activewear.

Investors Capitalize on Rising Popularity

The growing role of D2C brands

The activewear market has attracted significant interest from investors, with DTC brands seeing numerous acquisitions and IPO launches. 

Notable DTC brands, such as Outdoor Voices and Vuori, are expanding their operations and attracting investments. 

Additionally, rising interest from investors like Norwest GV and Forerunner Ventures is fueling the expansion plans of activewear brands.

The Direct-to-Consumer (DTC) activewear market had a bustling year in 2021, witnessing numerous acquisitions and IPOs. Some notable deals included Sweaty Betty being acquired by Wolverine World Wide, 

Levi's purchasing Beyond Yoga, and Helen of Troy, the owner of Hydro Flask, snapping up Osprey.

In terms of website visits, Arc'teryx and Tracksmith were the fastest-growing DTC athletics brands, with Arc'teryx experiencing a remarkable 264% spike in monthly visits in the US. 

Snapshot

Alo Yoga also saw an increase of 124%, while Tracksmith experienced a 75% hike in website visits. SimilarWeb tracked this data and also highlighted growth in equipment makers like Hydrow, Tonal, and Mirror.

The rising popularity of activewear brands has attracted investors' attention. Outdoor Voices emerged as a significant DTC brand in the activewear market, while other brands like intimate brands ThirdLove and Thinx have also ventured into the activewear category.

Athleisure or activewear stands out as a bright spot in the otherwise challenged apparel sector. DTC brands can capitalize on this trend by selling through their own channels and wholesale avenues.

Expanding Market Across Categories and Regions

The athleisure and activewear segments continue to attract brands beyond DTC, with various fashion and lifestyle brands venturing into activewear. 

The global women's activewear market is projected to reach impressive figures, driven by increased female participation in fitness activities and the adoption of athleisure wear for everyday use.

Technology and Functional Properties Drive Growth

Comfort looks, and functional properties like moisture management, water repellency, and thermal regulation are key factors propelling activewear's popularity. 

Brands are incorporating innovative technologies, such as sewfree bonding solutions, to offer enhanced performance and aesthetics to consumers.

With consumers actively seeking activewear with specific features and increasing interest from investors, the activewear market shows promising growth and holds significant potential for the textile industry in Tirupur and beyond.

Short message

Athleisure trends fuel lucrative activewear investments.

Investor interest in the activewear category has further fueled expansion plans for various activewear brands. Investors such as Norwest GV and Forerunner Ventures have shown interest in this growing market.

Athleisure or activewear stands out as a bright spot in the otherwise challenged apparel sector. DTC brands can capitalize on this trend by selling through their own channels and wholesale avenues.

The popularity of athleisure spans across various categories, attracting streetwear, lifestyle, and women's wear brands. Major retailers like Target and Kohl's have also ventured into the activewear market, underscoring its appeal.

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