On May 4, the Fashion Junction will organise a business to consumer (B2C) shopping fair in Khar, Mumbai.

Bringing together women’s clothing, accessory, and lifestyle brands, the event will showcase a diverse range of product categories including ethnic, western, and fusion wear, along with resort styles, handbags, fashion accessories, jewelry, and unique gift items. With a keen focus on affordability, the event will highlight brands nestled within the mid-market segment, ensuring a diverse selection of goods catering to various tastes and preferences.

More than 45 esteemed brands are slated to unveil their latest collections at the fair. These will provide a phethora of options ranging from chic ensembles suitable for destination getaways to elegant attire perfect for summer weddings.

The event is likely to be attended by several notable participants including All Things Priti, House of Pri, Sugar Boutique, B’Naza, Gold Closet, Jasmyrra Creations, and Pinkari by M. Brand Umafiato will enchant visitors with its exquisite range of accessories. Additionally, the event will feature home décor accents and delectable food items to tantalise the senses.

In collaboration with partner Club Mahindra, the fashion fair will offer five lucky shoppers an opportunity to win vouchers to enhance their shopping experience. With free entry for all, the event will help foster connections between emerging brands and a diverse array of consumers.

Madhya Pradesh’s first exclusive brand for Chikankari and Chanderi sarees, The House of Indu plans to launch an online store in the next few months to make its products available across the country. The brand has already opened its first physical store in Indore.

A specialist in Chikankari and Chanderi sarees, the brand gets its sarees handcrafted by its own team of in-house fashion designers. These sarees are made over a period of 2 months at the brand’s production factory in Lucknow.

Vikash Sharma, Founder CEO, The House of Indu, says, the brand aims to empower and adorn women with unique handcrafted pieces that reflect culture and timeless elegance. In future, The House of Indu plans to expand its operations in both the domestic as well as international market.

The Q4 net profit of prominent fashion and beauty department store Shoppers Stop increased by 63 per cent to Rs 23 crore ($2.8 million) compared to Rs 14 crore in the same period last year.

During this quarter, the company's revenue also expanded by 13 per cent to Rs 1,046 crore, up from Rs 929 crore reported in the corresponding period of the previous fiscal year.

For the entire fiscal year ending on March 31, 2024, Shoppers Stop recorded a net profit of Rs 77 crore, while its revenue stood at Rs 4,317 crore.

Throughout the quarter, Shoppers Stop expanded its footprint by opening 7 department stores, 3 beauty outlets, and 12 Intune stores, investing a total of Rs 84 crore.

Expressing his satisfaction with the company’s performance, Kavindra Mishra, Managing Director and CEO, Shoppers Stop, emphasises on its commitment to enhance operational efficiency by enhancing customer experience, premiumisation and expanding into high-growth segments.

Established in 1991, Shoppers Stop operates 112 department stores, 7 premium home concept stores, 87 specialty beauty outlets, 22 Intune stores, and 21 airport locations.

The recent closure of Indifusion, a men's ethnic wear brand acquired by retail giant Bestseller, throws light on the complexities of the Indian ethnic wear market for established western brands. Despite the segment's potential, big brands often struggle to gain a foothold, as exemplified by Bestseller's failed attempt.

A market steeped in nuance

Bestseller's lack of experience in the Indian ethnic wear segment proved to be a critical factor. Understanding the intricacies of traditional silhouettes, regional variations, and cultural significance of garments is crucial for success. As an expert pointed out, "navigating the nuances of the Indian wear segment" is a challenge for companies accustomed to western styles. Ethnic wear is often occasion-specific, with intricate designs, diverse regional styles, and cultural significance. Big brands, accustomed to standardized western styles, may struggle to cater to this intricate market. This knowledge gap, coupled with the pandemic-induced slowdown in discretionary spending, proved detrimental for Indifusion.

Shifting consumer preferences

The Indian consumer landscape is witnessing a significant shift in apparel choices. While ethnic wear remains dominant in the women's segment with 71 per cent market share, the men's segment is experiencing a move towards ready-to-wear garments and western styles. This is corroborated by Devarajan Iyer, CEO of Lifestyle International, who highlights the "stagnation in the growth of the ethnic wear segment" compared to the "double-digit expansion" of western wear. A Wazir Advisors report too highlights a ‘stagnation’ in the growth of traditional ethnic wear, particularly for men. Consumers are increasingly opting for western or fusion wear for daily wear, reserving ethnic pieces for special occasions. This shift poses a challenge for brands solely focused on traditional men's ethnic wear.

The rise of fusion wear

However, the picture isn't entirely bleak. The market is evolving with the growing popularity of fusion wear, which caters to the evolving needs of the modern Indian consumer. As Pakhi Saxena, Head-Retail at Wazir Advisors, states, consumers are seeking a "blend of cultural influences with comfort and convenience." Fusion wear offers a contemporary interpretation of traditional garments, resonating with the younger demographic and the increasing female workforce who seek a balance between tradition and modern trends.

Direct-to-consumer and the future of menswear

The rise of direct-to-consumer (D2C) brands further disrupts the traditional retail landscape. These brands often cater to niche segments and offer greater customization options, appealing to the increasingly fashion-conscious Indian male consumer. They often leverage social media to build brand awareness and foster a loyal customer base. Big brands, with their traditional retail models, may struggle to compete with this new wave of competitors. This trend, coupled with the growing acceptance of western and fusion wear, poses a challenge to the traditional ethnic wear segment.

Dominance of established players

The Indian ethnic wear market, particularly for women, is dominated by established domestic brands like BIBA, Global Desi, Fabindia, Manyavar among others. These players have a deep understanding of customer preferences, regional variations, and cultural nuances. Competing against this entrenched network can be challenging for big brands lacking the necessary market knowledge and brand loyalty.

Moving forward with innovation and adaptation

Despite the challenges, the Indian menswear market holds immense potential. According to IBEF (Indian Brand Equity Foundation), the market is expected to reach Rs 740 billion ($9.7 billion) by 2024. Brands that can adapt to changing consumer preferences, embrace innovation, and leverage technology like D2C platforms are well-positioned for success. This could involve introducing contemporary cuts and fits to traditional garments, offering a wider variety of fusion wear options, and personalizing the shopping experience.

Here are some potential approaches for big brands:

Partnerships: Collaborate with established ethnic wear brands to gain market insights and leverage their distribution networks.

Fusion focus: Develop fusion wear collections that cater to the evolving needs of the modern Indian man.

Digital transformation: Embrace e-commerce platforms and social media marketing to reach a wider audience and build brand engagement.

Customization: Offer customization options to cater to individual preferences and regional variations.

In conclusion, Bestseller's exit from the Indian men's ethnic wear market serves as a cautionary tale for established brands. Understanding the cultural nuances, adapting to evolving consumer preferences towards western and fusion wear, and embracing technological advancements are key to success in this dynamic market. The future of Indian menswear lies in innovation and brands that can cater to the aspirations of the modern Indian man.

Shoppers Stop, a prominent departmental store chain, has announced significant leadership changes in a recent regulatory filing. Kavindra Mishra, previously serving as executive director and CEO, now steps into the role of managing director and chief executive officer.

Mishra's appointment, effective from April 29, 2024, is slated for a three-year term pending shareholders' approval.

With a wealth of experience, Mishra previously held positions such as chief commercial officer and CEO - Homestop within the company. Before joining Shoppers Stop, he served as the managing director and CEO of House of Anita Dongre and Global Desi.

Furthermore, the board of directors approved the appointment of Ashish Hemrajani as a non-executive independent director for a term of five years. Hemrajani, renowned as the founder and CEO of BookMyShow, brings substantial expertise in the online entertainment realm.

Additionally, Purvi Sheth joins as an (Additional) non-executive independent director, while Nirvik Singh assumes the role of (Additional) non-independent director non-executive, both for 5-year terms.

A Tata Group-owned entity, Trent Limited recorded a 15-fold rise in its net profit for the fourth quarter ending March 31, reaching Rs 712 crore ($85.3 million), a significant jump from Rs 45 crore recorded in the same period last year.

The company's revenue also climbed by 51 per cent to Rs 3,298 crore, compared to Rs 2,183 crore in the corresponding quarter of the previous fiscal year.

During this quarter, Trent strategically expanded its retail footprint by inaugurating 12 new Westside stores and an impressive 86 new Zudio outlets.

Noel N Tata, Chairman, Trent Ltd, emphasises, the brand’s financial performance is a result of its adaptable business coupled with the expansion of its product lines and the robustness of its platform.

Further reiterating the company's commitment to enhance its retail presence, aiming to provide enhanced accessibility and convenience to its customer base, Tata stated, the brand aims to foster close connections with customers by expanding and deepening store network, thereby reinforcing our brand commitment."

As of March 31, 2024, Trent's retail portfolio boasted 232 Westside outlets, 545 Zudio stores, and 34 establishments across other lifestyle concepts.

Garment Mantra Lifestyle has announced plans to explore business opportunities in the North East.

Through their strategic tie-ups, the company has identified distributors from Siluguri, Gauhati and Tinasukiya which are considered as key distribution points. The Company's plans to work closely with retailers and provide direct market intelligence to the Distributor for better placement of products.

Prem Aggarwal, Chairman & Managing Director, says, the company will follow the international pattern which allows it to not only expand the market but also connect with the customers to provide the pre booked orders to distributors besides getting the latest trends and their requirements.

This setup will be of great use to commission agents as it will help them grow their business on the back of its products.

The Indian e-commerce landscape is undergoing a significant shift, with a rise in online shoppers from tier-II cities and beyond. This trend presents a massive opportunity for apparel businesses, particularly those catering to value-conscious consumers in these regions.

Market potential and growth drivers

A Nielsen report estimates only a quarter of India's 720 million online users (as of Dec 2022) actively transact online, highlighting the vast potential in Tier-II markets. Investors are backing companies like Rozana and Floryo, which focus on serving the value-conscious customer base in these regions. Funding for such ventures is on the rise. Rozana, for example, secured $22.5 million recently. A KPMG study, in collaboration with Facebook India, projects a staggering 12-14 per cent annual growth rate for the fashion market in Tier-II cities by 2022, driven by internet proliferation and growing aspirations. Similarly, as per a RedSeer Consulting forecast the online fashion market in Tier-II cities will reach a size of $7-9 billion by 2023.

A recent Unicommerce report (2024) highlights a significant rise in online kidswear sales, with Tier-II and Tier-III cities contributing a whopping 118 per cent order volume growth. This trend can be attributed to increasing brand awareness and a growing focus on online shopping for children's clothing. In fact, there is growing demand across categories like menswear and womenswer.

Demand for both value and premium segment

The Tier-II market caters to a diverse range of consumers with varying preferences. A significant portion of Tier-II shoppers are value-conscious. Platforms like Citymall and Dealshare have witnessed success by offering everyday essentials and groceries at competitive prices. This segment is likely to be receptive to budget-friendly and private label apparel brands as they are open to exploring new brands with unique propositions

While price sensitivity exists, there's also a growing demand for premium apparel brands in Tier-II cities. Increased disposable income and exposure to fashion trends are driving this growth. This segment presents an opportunity for established brands and new D2C players offering high-quality and trendy clothing.

Interestingly, in Tier II markets both branded and unbranded products can find a place. Established brands can leverage existing brand awareness through social media and online advertising, Tier-II consumers are increasingly seeking established brands. This trend is likely to continue, creating a market for both domestic and international apparel brands.

Unbranded products on the other hand can compete on price and cater to specific needs. They still hold a significant share in the Tier-II apparel market, particularly in the value segment. However, the demand for branded products is expected to rise as consumers become more brand conscious.

Offline market's role in online growth

The offline market plays a crucial role in supporting the online apparel market in Tier-II cities. The presence of physical showrooms and experience centers allows Tier-II consumers to touch, feel, and try on clothes before purchasing online. This builds trust and confidence in online shopping.

Online retail also flourish as they partner local kirana stores or establish pick-up points in Tier-II cities. This facilitates convenient delivery and return options, encouraging online purchases.

Indeed, the rise of Tier-II online shoppers is a significant development for the Indian apparel industry. By understanding the specific needs and preferences of this market, brands and online retailers can develop targeted strategies to capture a share of this growing market. The key lies in offering a variety of products across sectors and segments, catering to both value-conscious and brand-driven consumers. Leveraging the existing offline market infrastructure will further propel online apparel sales in Tier-II cities.

India's e-commerce market is projected to grow to a value of $325 billion by 2030. As per a report by Invest India, the anticipated growth of this market aligns with broader forecasts for India's digital economy, which is expected to reach a staggering $800 billion within the same timeframe.

Currently valued at $70 billion, online shopping represents about 7 per cent of India's total retail market, leaving ample room for expansion. A multitude of factors, including widespread internet accessibility, affordable internet services, and a burgeoning number of smartphone users in rural areas, are poised to drive this promising trajectory in the coming years.

Invest India's report underscores India's impressive internet user base, standing at a remarkable 881 million, making it the world's second-largest. With such a substantial digital presence, India is poised to be the third-largest online retail market by 2030. This growth will be fueled by the rapid expansion of the country's digital economy, signaling a bright future for its e-commerce sector.

With an estimated 500 million shoppers by 2030, India will lead the global online shopping arena. This significant growth can be attributed to several key factors propelling the e-commerce boom including the skyrocketing internet accessibility across the country, with an expected 87 per cent of Indian households projected to have internet access by 2025. Particularly noteworthy is the surge in mobile internet usage, highlighting the pivotal role of smartphones in driving e-commerce adoption.

Other crucial factors driving the e-commerce boom include the rising number of smartphone users, the prevalence of UPI in digital transactions, and the expanding availability of content in local languages.

Over 1.18 billion people or 80 per cent of the current are projected to have access to smartphones by 2026. This substantial increase in smartphone users, coupled with higher average data consumption per user, is expected to further boost the digital economy. Additionally, the Unified Payments Interface (UPI) has emerged as a significant player in digital transactions, facilitating transactions worth $1.5 trillion in 2022.

The proliferation of local language and mobile-first content is notable, with around 73 per cent of India's internet users preferring Indian languages. This preference has led to the establishment of an estimated regional language user base of 540 million, contributing to a market valued at $53 billion.

Invest India also highlights the growing importance of rural-centric e-commerce, with a significant portion of demand expected from Tier II-IV towns and rural areas by 2026. Government initiatives, such as the National Logistics Policy, aim to streamline deliveries to remote areas, thereby enhancing logistical efficiency and cost-effectiveness.

Additionally, the quick commerce market within India's hyperlocal mobility sector is projected to grow to $5.5 billion by 2025. The e-commerce sector is currently witnessing certain noteworthy mergers and acquisitions, with companies strategically positioning themselves for growth.

Government schemes such as Jan Dhan Yojana, BharatNet Project, and the implementation of Goods & Service Tax (GST) are shaping the digital economy of India, says the report.

Bollywood actor Ibrahim Ali Khan has been named as the latest brand ambassador for Puma India. He will be the face of Puma's premium and limited-edition sports-inspired footwear and apparel lines. This collaboration aims to deepen Puma's connection with the youth demographic, leveraging Khan's natural style and fervor for sports.

Karthik Balagopalan, Managing Director, Puma India, emphasises, Khan's blend of sports legacy and cinematic charm, aligning seamlessly with Puma's brand identity. With Khan on board, Puma aims to connect deeply with its target audience, inspiring the next wave of athletes and trendsetters.

In addition to his ambassadorial role, Khan will represent Puma India at the forthcoming Miami Grand Prix.

Surpassing competitors like Adidas, Nike, and Reebok combined, Puma India's revenues soared to Rs 2,980 crore in FY22. This growth underscores the brand’s stronghold in the sportswear market, bolstered by strategic partnerships and a compelling brand narrative.

Marking a significant addition to its trekking apparel range, Indian outdoor and performance wear brand Gokyo has launched India’s first 'Mountaineering Summit Downsuit. Available for pre-order through its direct-to-customer e-commerce platform, this cutting-edge garment is poised to redefine high-altitude expeditions.

Crafted with an 80:20 down-fill blend, the downsuit promises exceptional warmth, while maintaining a lightweight and compact profile crucial for mountainous terrains. Venki Maheshwari, Co-founder, Gokyo states, the downsuit showcases India's capability to manufacture world-class mountaineering gear.

Aligned with the government's 'Make in India' initiative, Gokyo champions local manufacturing across its entire product spectrum, catering to the diverse needs of Indian adventure enthusiasts. The 'Mountaineering Summit Downsuit' stands as a testament to this commitment, featuring water-resistant zippers and pockets, tailored for extreme cold weather conditions.

Expanding its offerings further, Gokyo introduced a women's line this year, diversifying its reach. Additionally, with new points of sale established in Noida and Thane, the brand is set on an ambitious trajectory, aiming to broaden its physical presence and serve a growing customer base.

California-based footwear retailer Skechers has opened its 21st store in Ahmedabad, Gujarat.

Skechers recently also launched its streetwear apparel capsule collection ‘Retroverse’ in collaboration with Kanika Goyal at the Lakme Fashion Week in partnership with the Fashion Design Council of India (FDCI). Representing a step forward for the brand, the collection pushes the boundaries of fashion innovation, says Rahul Vira, CEO, Skechers Asia.

Founded in 1992, Skechers South Asia is a subsidiary of Sketchers USA. The retailer designs, develops and markets a range of lifestyle and performance footwear, apparel and accessories for men, women and children. The brand provides its products in 180 countries.