30 December 2024, Mumbai

India’s retail sector is undergoing a remarkable transformation, driven by Isha Ambani and her father Mukesh Ambani’s strategic vision for Reliance Retail. The Ambanis are bringing some of the world’s most renowned luxury brands to India, revolutionizing the country’s shopping landscape.

Under Mukesh Ambani’s leadership, Reliance Retail has already introduced global names like Versace, Armani, and Balenciaga. His vision continues to guide the retail giant, which has a market capitalization of Rs 1,92,900 crore and is expanding its reach. Since Isha took the helm in 2022, she has propelled Reliance Retail further, securing exclusive partnerships with international luxury brands and enhancing India’s fashion and retail scene.

In 2024, Reliance Retail is set to debut six iconic brands: American fashion brand Old Navy, the upscale Armani Cafe, global e-commerce leader Asos, fast-fashion giant Shein, the stylish EL&N Cafe from London, and French luxury brands Sandro & Maje. These brands will be available both online through platforms like Ajio and in exclusive stores at Jio World Plaza, Mumbai's premier luxury shopping destination.

Isha Ambani’s leadership is not limited to fashion; she’s also spearheading initiatives like Tira Beauty, Ajio, and Freshpik, further elevating Reliance’s diverse retail portfolio. With these bold moves, Reliance Retail is solidifying its position as India’s gateway to global luxury.

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27 December 2024, Mumbai

Committed to empowering men of all ages, men’s casual wear brand, Bare Brown has expanded its Kerala presence with first retail store in Thrissur.

Reflecting the brand’s core philosophy of creating experiences beyond retail, the new store is designed as a visual story. It embodies the brand’s minimalistic and neutral aesthetic, providing customers with an immersive shopping experience. Featuring versatile, comfortable, and timeless casual wear, the store allows individuals to express their style effortlessly.

Dedicated to crafting clothing that resonates with modern men’s needs, Bare Brown offers a designs range that balances quality and functionality. With the launch of this new store, the brand aims to build a retail presence emphasising meaningful engagement with its customers, transforming shopping into an inspirational journey.

Located at Hilite Mall, the store showcases Bare Brown’s innovative approach to men’s fashion while staying true to its vision of creating empow ering and understated clothing.

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30 December 2024, Mumbai

A year of transformation and resilience, the Indian fashion and apparel sector in 2024 navigated a dynamic landscape marked by evolving consumer preferences, economic shifts, and technological advancements.

Factors that dominated the year

Value-conscious consumers: Rising inflationary pressures saw consumers become more discerning with their spending. Value for money propositions gained significant traction across segments.

Digital influence: Online channels continued to grow, with social media platforms and e-commerce marketplaces heavily influencing purchasing decisions.

Sustainability concerns: Consumers, particularly Gen Z and millennials, showed increasing interest in sustainable and ethical fashion choices.

Comfort and functionality: The lines between workwear and casual wear blurred further, with comfort and functionality becoming paramount. Athleisure and loungewear continued their strong performance.

Fusion fashion: A blend of traditional and modern aesthetics remained popular, particularly in the women's wear and ethnic wear segments.

Projections vs. Reality

As the table indicates, the slight dip in overall growth compared to initial projections can be attributed to the economic slowdown experienced in the first half of the year. However, the festive season and increased online sales contributed to a strong recovery in the latter half.

Table: Market and segment wise growth 2024

(Source: Technopak Analysis, Statista)

The winners

Some players emerged clear winners this year.

Value fashion retailers: Players like V-Mart, Citykart, and Max Fashion, offering trendy apparel at affordable prices, captured a significant market share.

Direct-to-consumer (D2C) brands: Online-first brands with a strong digital presence and personalized customer experience gained popularity.

Sustainable fashion labels: Brands focusing on eco-friendly materials and ethical production practices witnessed increased demand.

Athleisure and loungewear: The comfort-driven trend continued to favor brands specializing in athleisure and loungewear.

And losers

Then there were the ones who lost out…

Luxury brands: The premium segment faced challenges due to falling consumer spending on high-end fashion.

Traditional retailers: Brick-and-mortar stores struggled to compete with online platforms, with many facing declining footfalls.

Fast Fashion: While still relevant, the fast fashion segment faced growing criticism for its environmental impact, leading to some consumer backlash.

The rise and rise of sustainable style

One defining trend of 2024 was the rise of sustainable fashion. For example, No Nasties, a homegrown sustainable fashion brand, reported a 30 per cent sales increase compared to the previous year. Their focus on organic cotton, fair trade practices, and transparent supply chains resonated with environmentally conscious consumers. As Apurva Kothari, Founder of No Nasties opines, “Consumers are increasingly aware of the impact their choices have on the planet. They are willing to invest in brands that align with their values."

What lies ahead in 2025…

"The Indian fashion and apparel sector is poised for exciting times," says Ankur Bisen, Senior Partner & Head, Consumer, Food & Retail at Technopak. "Brands that can adapt to the changing consumer landscape, leverage technology, and offer unique value propositions will be the winners in the years to come."

In fact, some factors will clearly drive change in 2025. For example Artificial intelligence, virtual try-ons, and personalized recommendations will further enhance the online shopping experience. Experiential retail will gain traction with offline stores focusing on creating immersive experiences to attract customers, blending online and offline channels.

Personalization will increase as brands will leverage data and analytics to offer personalized products and services, catering to individual preferences. The focus will be on inclusivity. Body positivity and diverse representation will continue to gain importance, with brands catering to a wider range of sizes and styles.

Growth in online channels will continue as e-commerce is expected to maintain its strong growth trajectory, with social commerce playing a key role. Ethnic wear is expected to see a resurgence as the segment is projected to witness further growth, driven by weddings, festivals, and increasing adoption for everyday wear.

Tier II, III cities will continue to grow with rising disposable incomes and increased internet penetration in these cities presenting significant opportunities for fashion brands. And the athleisure segment is expected to evolve further, with new performance fabrics and stylish designs catering to diverse fitness activities.

Overall 2024 was a year of adaptation and innovation for the Indian fashion and apparel sector. As we move into 2025, the industry is expected to witness further growth, driven by evolving consumer behaviors, technological advancements, and increasing focus on sustainability and inclusivity. Brands that can navigate these trends and cater to the diverse needs of the Indian consumer will be well-positioned for success in this dynamic market.

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27 December 2024, Mumbai

B2B manufacturing technology company Groyyo has announced the elevation of Nitin Jain, Managing Director (Exports), to the position of Co-Founder. This milestone reflects Jain’s pivotal role in the company’s rapid international growth and success in exports.

Before joining Groyyo, Jain spearheaded Sales & Marketing at Wearwell Industries, building its global order book from scratch. At Groyyo, he has been instrumental in scaling exports to markets like the UK, EU, Australia, and South Korea. His efforts have secured marquee clients, including Next, John Lewis, and Mango.

“We are thrilled to welcome Nitin as a Co-Founder. His dedication has been crucial to the scale and quality of our exports business,” said Subin Mitra, Co-Founder & CEO of Groyyo. Mitra emphasized that Jain’s leadership would help deepen market penetration and expand into new territories.

Jain expressed excitement about his new role and reiterated his commitment to accelerating Groyyo’s exports growth. “We aim to empower more SMEs to go global, leveraging our design, manufacturing, and supply chain capabilities,” he stated.

Founded in 2021, Groyyo has tripled its exports business in two years, serving leading fashion and lifestyle brands globally. Backed by investors like Tiger Global, the company recently raised $5.5 million in venture debt to bolster its exports operations.

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27 December 2024, Mumbai

Expanding its operations, V2 Retail plans to launch 250 offline stores across India in the next two years. The retailer also plans to increase revenues to $328 million during this period.

Further, the brand aims to enhance customer experience and expand product offerings by capturing market shares from both unorganised retailers and competitors.

Akash Agarwal, Director, V2 retail, says, the company continues to grow even amid heightened market challenges. In FY23, it recorded a 31 per cent growth in its same-store sales, which is substantially higher than the industry average of 5-9 per cent, he adds.

In FY24, V2 Retail aims to increase its revenues to $211 million as against revenues of $134 million in FY23. To achieve this, the company plans to shift its strategic focus by increasing average selling price to Rs. 300-350 ($3.52- $4.1). Upgrading its overall customer experience, the company has made heavy investments in product development and store redesigns,

Besides, the company also plans to foray into the e-commerce space with the launch of its own exclusive website soon. The company also aims to prioritise a robust and customer-centric online experience.

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26 December 2024, Mumbai

Growth of internet retail, rising disposable incomes and greater fashion consciousness is spurring the growth of lingerie market in India. As per a report by the IMARC Group, from $4.9 billion in 2023 the market is expected to reach $10.9 billion by 2032, growing at a CAGR of 9.32 per cent during 2024-2032.

Driven by the changing trends in consumer behavior and preferences, the Indian lingerie market is undergoing a significant transformation. There is a growing demand for personalised lingerie in the country with consumers demanding unique shapes and sizes.

The rise of virtual fitting rooms and AI recommendations is also boosting consumer engagement with women preferring lingerie combining style with support.

Opting for modern designs incorporating traditional elements, women are seeking stylish, comfortable, and practical lingerie. There is a growing focus on personal style and self-expression, especially in cities. The rise of e-commerce has made it easier to access various brands and styles from home.

Boosting demand for trendy and high-quality lingerie, influencers and celebrities are promoting brands and styles to their followers. More brands are investing in digital marketing to reach their audiences with equally more consumers choosing lingerie brands that focus on sustainability and ethics.

Driven by a growing environmental awareness, brands are using organic cotton and recycled materials to reduce waste. Consumers’ demands to know the social impact of their products is pushing brands to be more transparent.

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30 December 2024, Mumbai

A brand celebrated for its imaginative designs and dedication to individuality, Cincin Fashion has expanded its retail spread with the opening of its latest store at Ambience Mall in New Delhi. Known for its seamless fusion of modern aesthetics and timeless elegance, Cincin Fashion offers high-quality creations that champion creativity, versatility, and personal expression.

The brand’s new store at Ambience Mall allows fashion enthusiasts to explore a collection that redefines sophistication and charm. Its bold, statement-making designs and classic, timeless pieces, make it the perfect destination for customers to elevate their wardrobes with distinctive creations that reflect both style and substance.

Inspired the philosophy of celebrating each of life’s everyday joys, the brand offers vibrant and optimistic collections that turn even the dullest moments into a celebration. Inspired by the 19th-century Aesthetic Movement, Cincin Fashion embraces a bohemian lifestyle, prioritising comfort, soft fabrics, and vibrant prints, all accented with intricate hand embroidery.

Each design in the collection embodies Cincin Fashion's signature aesthetic, blending imaginative creativity with a deep respect for individuality. Rejecting modern materialism, the brand crafts pieces that aspire to a utopian ideal, while staying grounded in inclusivity, culture, and comfort.

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27 December 2024, Mumbai

Expanding its accessories portfolio, leading innerwear brand, VIP Clothing has launched its maiden range of branded handkerchiefs.

A part of the brand’s strategic plan to diversify its offerings, the brand plans to transform traditionally unorganised categories into branded products.

Sunil Pathare, Chairman and Managing Director, says, having redefined the innerwear market with the power of branding, the company aims to make this essential everyday category more stylish and trustworthy. It also aims to cater to the consumers’ demands for branded essentials by focusing on the quality, durability and style quotient of its offerings.

Expanding its portfolio with new categories including socks, handkerchiefs, and complementary accessories, VIP Clothing plans to strengthen its portfolio by adding new categories.

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26 December 2024, Mumbai

The Pant Project, a leading clothing brand known for its custom and ready-to-wear pants, launched an innovative experiential campaign at Mood Indigo, Asia’s largest college cultural festival, held at IIT Bombay from December 25–27, 2024. The centerpiece of the campaign, created with "Experimental Much?," is a giant pant installation made entirely of denim, embodying the brand's commitment to creativity and individuality.

Targeting Gen Z, the activation encouraged festival-goers to interact with the installation by doodling, spray-painting, and leaving their mark. This immersive experience aimed to foster a sense of community and self-expression, aligning with the values of authenticity and creativity cherished by the younger generation.

"Our goal is to create a deep, emotional connection with Gen Z through this initiative," said Dhruv Toshniwal, Co-Founder of The Pant Project. "It’s about more than jeans; it’s about celebrating individuality and leaving a lasting impression."

Known for its premium denim collection, including relaxed-fit and power-stretch slim-fit jeans, the brand focuses on comfort, durability, and style. Sukita Tapadia, CMO, emphasized, "This activation transforms denim into a medium for self-expression, inspiring a stronger bond with our audience."

The campaign underscores The Pant Project’s mission to blend innovation with meaningful engagement, ensuring Gen Z feels seen, heard, and connected.

The Pant Project, founded in 2020 by Dhruv and Udit Toshniwal, offers custom and ready-to-wear pants with expert tailoring and premium materials. Backed by decades of textile expertise, the brand delivers quality, style, and a seamless shopping experience.

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