Currently valued at over $100 billion, the Indian fashion retail sector is poised to grow in double-digits over long-term, offering players an opportunity to expand their operations.

Industry stalwarts like Aditya Birla Fashion Retail and Arvind, alongside mid-level players such as TT Ltd and high-fashion women's wear brand Madame, are implementing innovative strategies to maintain their competitive edge in the market.

Aditya Birla Fashion and Retail recently announced the vertical demerger of its Madura Fashion & Lifestyle business, a move poised to unlock growth opportunities. Meanwhile, online giant Myntra is expanding its market presence by onboarding global brands. Celebrity partnerships are helping drive brand visibility as Arvind Limited collaborated with Lakshyaraj Singh Mewar and Bewakoof signed an endorsement deal with Rashmika Mandanna. Brands Madame, Libas and Bewakoof are also tapping into star power to connect with consumers.

Westside and JadeBlue are opening new stores to cater to diverse markets. Leveraging sports partnerships, Puma and TT Ltd are teaming up the Indian Premier League to boost merchandise sales.

Simultaneously, international brands like Levi's, Uniqlo, and H&M are making inroads into India, posing challenges to domestic players. Denmark's Bestseller group's visit signals the growing interest of global players in the Indian market. Even smaller brands are thriving, catering to niche segments and expanding their footprint across multiple fronts.

Forever New has collaborated with Bollywood actor Pooja Hegde to unveil its latest Spring/Summer 2024 collection.

Titled 'Another Day in Paradise,' the collection offers a diverse array of fashion choices, including ruffle dresses, bodycon pieces, co-ords, linen tops, and frill neck blouses.

Dhruv Bogra, Country Manager-India, Forever New, describes the collection as ‘a vibrant celebration of life and style.’ According to Bogra, the collection inspires individual expression with its pieces seamlessly blending timeless elegance with contemporary flair.

Hegde adds, each garment in the new SS24 collection exudes charm and embodies the essence of contemporary style.

The collection can be purchased from Forever New's website or its retail outlets located across India.

A clothing company with brands like Lee and Wrangler, Ace Turtle plans to open 100 new stores in smaller Indian cities this fiscal year. The company will partner with other businesses to open these stores.

An apparel manufacturer and distributor, Ace Turtle is the licensed distributor of popular clothing brands in India. The company raised money last year to fund its expansion plans. Currently having 110 stores across the country, Ace Turtle plans to open a few large stores in bigger Indian cities.

With the growth of major clothing companies, India's apparel market is expected to almost double by 2030. To capitalise on this, Ace Turtle plans to add new clothing brands to their stores over the next three years. These brands will mainly target middle-class families and people who want to buy stylish clothes.

India witnessed a rise in its retail space across Tier II and smaller cities in March 2024 with the launch of 64 per cent more stores during the month. Data from India Retailing Insights shows, new store openings remained constant during the month with 76 new stores being launched.

North India led with the opening of 26 new stores in March, showing an 8 per cent increase from the prior month. This was followed by West India with the opening of 23 new stores. However, new store openings in South India dropped by 40 per cent drop with only 16 new stores compared to February. In contrast, East India maintained steady growth with one to five new store launches each month.

The newly opened stores spanned across various cities including Surat, Bengaluru, Aurangabad, Thiruvananthapuram, Vadodara, Gwalior, Gandhinagar, Coimbatore, Ahmedabad, Kochi, Delhi, Kolkata, Mumbai, Pune, Chennai, Latur, Satara, Nagpur, Kolar, Patiala, Vanastalipuram, Puducherry, Indore, Lucknow, Malleshwaram, Noida, Maharajganj, Kozhikode, Jaipur, Amritsar, and Mohali.

Tier 1 cities such as Bengaluru, Chennai, Delhi, Kolkata, Mumbai, Ahmedabad, Pune, and Hyderabad witnessed 28 new store openings in March, while Tier II recorded the opening of 48 new stores, constituting 64 per cent of the total launches.

Most of these new store openings were led by key players including Malabar Gold & Diamonds which opened around 10 new stores across the country. The brand aims to reach a total of 350 stores. ABFRL's Tasva opened four new stores while fashion brands like Snitch, Lifestyle, Intune, Gap, Kalyan Jewellers, and Popeyes opened two new stores each.

On the international front, Indian companies expanded their footprint with over seven stores outside India. Tanishq opened a store in Chicago, Hamleys in Rome, and Louis Philippe and Van Heusen in Qatar. Additionally, several global brands entered the Indian market through e-commerce platforms.

Furthermore, Reliance acquired the business of LenCrafters India during the month while Reliance Retail' introduced UK online fashion retailer Asos in India.

In terms of fundraising, several D2C brands and retail players, including Bummer, abCoffee, Subko, The Ayurveda Experience, JustDeliveries, and SuperK, collectively raised over Rs 365 crore in March.

Expanding its reach in Mumbai, esteemed outdoor clothing and gear retail brand, Gokyo has opened new Shop-in-Shop (SIS) outlets within Total Sports & Fitness stores at Korum Mall in Thane and Dadar TT Circle. This move helps Gokyo consolidate its partnership with Total Sports and Fitness (TSF) to offer a wide range of products to outdoor enthusiasts in Mumbai.

The collaboration aims to enhance the shopping experience for adventure seekers by showcasing a diverse range of essential products. It offers an extensive selection of outdoor apparel and accessories from trekking pants to jackets.

Venkatesh Maheshwari, Founder, Gokyo, emphasises, the expansion will benefit customers in Thane, Kalyan, and Central Mumbai. The Shop-in-Shop concept will enable the brand to improve its interaction with customers and offer them an easier access to the brand’s products.

A leader in India's outdoor apparel and gear market, Gokyo serves a diverse clientele, including spiritual tourists embarking on the Chardham Yatra, international students, and travelers exploring Western countries. The brand meets the evolving needs of adventurers and travelers by blending style, functionality and durability.

A renowned platform bringing together Indian fashion and accessories brands, Sutraa aims to connect smaller labels with a wider customer base by organising its fairs to showcase ethnic wear across the country.

Following its successful fair in Raipur, platform now plans to host its next exhibition in Hyderabad.

To be held at the Novotel Hyderabad International Convention Centre from April 5 to 7, the trade fair will display an array of product categories ranging from women’s traditional and occasion wear to jewellery, handbags, accessories, home décor, and gift items.

Notable brands such as Mahalaxmi Jewellers, Vima Dilip, Simran Damra, Kittu Fashion, and Safetypinz Varanasi will attend the fair in Hyderabad. It will enable Sutraa to facilitate the brands’ growth by connecting them with eager shoppers seeking to explore new labels.

After Hyderabad, Sutraa will host a fair in Indore from April 13 - 14 at Hotel Sayaji. This event will also feature a diverse selection of products, including bridal and wedding wear for the spring wedding season.

The will be followed by an exhibition in Bengaluru showcasing premium brands at The Lalit Ashok from April 19 to 20. By focusing on the affluent millennial audience, Sutraa will continue to bridge the gap between brands and consumers, offering a platform for discovery and connection in the vibrant world of Indian fashion and accessories.

Pepe Jeans plans to increase the brand’s investment in digital media to 60 per cent this with focus on content creation rising to 18 per cent from the previous 5 per cent. For the upcoming Autumn/Winter’24 season, the brand plans to shift its focus to the women’s category, reveals Manish Kapoor, CEO.

Pepe Jeans recently launched its ‘Spring Summer Collection 2024’ with the theme ‘Wanderlust’. The collection aligns with the growing trend of experiential living amongst consumers, particularly the younger Gen Z and Alpha demographics. The marketing campaign for this collection emphasises on the brand's aim to resonate with consumers amid their pursuit of experiences, particularly travel and outdoor activities.

Reflecting on the evolving consumer behavior, Kapoor notes a shift from traditional occasion-based attire to a more versatile wardrobe catering to diverse lifestyles. He also emphasises on the burgeoning trend of athleisure and its evolution as a staple component of consumers' wardrobes.

Most of Pepe Jeans’ customers are within the 28 to 35 age bracket, particularly those engaged digitally, says Kapoor. Geographically, the brand’s sales are dominant in the North India, driven by the region’s longer winter season, he adds.

Indian women's fashion label Papa Don’t Preach by Shubhika has launched a new modest wear range for the upcoming Eid celebrations.

Launched at the renowned South Asian fashion boutique, Bibi London, in the UK, this collection offers floor-length gowns with matching headscarves. The signature bold prints on these garments are seamless integrated with diverse embellishments. Their classic modest silhouettes are dramatised with the addition of oversized floral patterns

The collection also includes a range of mini-sized handbags crafted in metallic hues and adorned with intricate 3D floral embellishments. These playful accessories feature statement chains, dangling charms reminiscent of jewelry, and stylish clips.

Launched in 2010, Papa Don’t Preach by Shubhika is known for its fusion style lehengas, gowns, and embellished accessories characterised by vibrant pastel and bright hues. To promote size inclusivity, the brand has eliminated size charts from its clothing labels.

With its Mumbai flagship store, direct-to-customer e-commerce platform, and presence in numerous multi-brand retailers, Papa Don’t Preach continues to captivate fashion enthusiasts globally with its innovative designs and commitment to diversity and inclusivity.

A prominent women’s ethnic wear company, TCNS Clothing Company has teamed up with e-commerce solutions provider, Unicommerce to boost its omni-channel operations. This collaboration aims to enhance customer satisfaction by leveraging Unicommerce’s integrated post-purchase technology stack.
Shivaprasad Eregowda, Business Head-E-commerce, TCNS Clothing Company, emphasises the importance of omni-channel capabilities in today’s dynamic market landscape. Expressing confidence in Unicommerce's technology, he highlights the company’s track record in delivering impressive results. TCNS Clothign Company plans to integrate Unicommerce’s omni-channel capabilities into its operations to further elevate its ability to serve customers seamlessly across both online and offline channels.
Previously, TCNS Clothing had been utilising Unicommerce’s multi-channel order management and warehouse management system for its online operations. With the integration of Unicommerce’s omni-channel technology, TCNS seeks to streamline online-to-offline order fulfillment across its various labels, including W, Aurelia, and Wishful.
Kapil Makhija, CEO and Managing Director, Unicommerce, emphasises, with more brands embracing omni-channel technology, they not only streamline operational processes but also enhance the post-purchase experience for consumers. The firm’s long-standing partnership with TCNS gives it an opportunity to provide seamless omni-channel technology to power their online and offline operations, he adds.

The Business Standard Manthan 2024 summit buzzed with optimism about the future of Indian luxury. The panel discussion, titled "Ramp to resorts to retail: How can luxury in 2047 redefine a Developed India," offered a glimpse into the potential of the world's fastest-growing luxury market. However, a closer look reveals a complex landscape with both promising signs and challenges to overcome.

Is the market ready? Sizing up ‘Aspirations vs. Reality’

While projections like Bain & Company's $200 billion market size by 2030 paint a rosy picture, the current reality might be more nuanced. A significant portion of luxury consumption in India still caters to a niche segment. The vast middle class, often cited as a growth driver, may not have the disposable income for high-end products.

The Outbound Luxury Shopper: A missed opportunity?

A trend that complicates matters is the continued preference of some Indian consumers for luxury goods purchased abroad. This flight for foreign labels suggests a trust gap or a perception of higher quality in international brands. This poses a challenge for homegrown brands vying for a larger share of the domestic market.

Can India spawn a global luxury giant?

Alexis Ducla's bold claim of "the next Chanel being from India" is certainly aspirational. However, substantial hurdles remain. India lacks a strong presence in global luxury yet. While recent investments in Indian designers by conglomerates are positive, building a brand legacy and global recognition takes time and consistent quality.

A Glimpse of Hope: Bright spots amidst tall claims

The discussion wasn't without its optimistic takeaways. The growing self-confidence of Indian consumers, their appreciation for domestic quality, and the increasing support for Indian luxury brands by corporate houses are all positive developments. Additionally, India's rich heritage of craftsmanship can be a significant advantage.

The Bottom Line: A market with potential, but questions remain

The Indian luxury market is undeniably on an upward trajectory. However, the road to becoming a global leader is long. Addressing affordability concerns, fostering trust in domestic brands, and building a strong design language are all crucial steps. The "tall claims" of overnight success may need to be tempered with a focus on long-term strategic growth. Only time will tell if India can truly be the cradle of the next luxury giant.