Indian Men's formal suits category market

Indian men's formal suits typically are conventional timeless apparel outfits comprising broadly of a range of article such as jacket, trousers, waistcoats/Tweed Formal Basket and a matching vest worn for multitude of formal occasions.

Occasion and formal clothing have traditionally dominated the menswear industry in India. Nonetheless, there is a growing interest in domestic brands that produce modern apparel that doesn't fit above mentioned categories. They were developed in response to a dearth of cheap daily apparel/clothing that prioritized comfort, style, and a gradual approach to fashion.

Sartorial clothing

According to trade experts, men tend to shop for festivals rather than daywear because of the ceremonial-heavy clothing that is now on the racks. Men's fashion pret collections have never been a priority; most men value well-made high street and premium labels. The unethical and wasteful practices of the high street have been under attention in recent years, raising consumer awareness of responsible shopping. The epidemic has further highlighted this.

Changing Fashion Consumer Sensibilities

The discerning man prefers thoughtfully created clothing that supports his sustainable lifestyle choices and is appropriate for all seasons and events. This change represents a tremendous potential for locally produced brands. Consider the menswear collection Lovebirds by Amrita Khanna and Gursi Singh, which debuted earlier after years of developing women's clothing.

Their men's line incorporates their recognizable aesthetic of simple designs and clean shapes into casual clothing. Sustainability, support for regional craftsmanship, and simple designs are all ideals and ideas that Lovebirds passionately upholds, according to the company. "Our goal was to develop a modern, fresh range of extremely laid-back, lounge-like products for young, fashion-forward consumers who appreciate high-quality design," the company said.

Market Outlook

International companies frequently ignore the Indian menswear market, which is limited to a few essential items like jeans and polo shirts. Yet, a fresh surge of interest is emerging. Luxury menswear brand Canali made an early foray into India; it made a profit in its first year there and considered India one of its top markets. The firm now has six physical locations around India and, at the beginning of this March, a high-end e-commerce site through Ajio Luxe, a native platform. According to group president and CEO Stefano Canali, the key to doing business in India is finding the proper partner. "Someone who assists in connecting you with the neighborhood market and the appropriate locations."

Having a quick glimpse of Indian men's formal suit branded fashion spectrum indicates the presence of leading active brands including Raymond, Blackberrys, Van Heusen, Arrow, and Louis Philippe, among quite a few others, serving to a range of budgets and styles.

The size of the global formal wear market is anticipated to increase between 2021 and 2030 at a CAGR of 3.4%. By 2030, the market for formal wear is expected to generate revenue, with North America and Europe being two of the significant contributors. Due to growing global awareness of dressing up and rising levels of disposable money, the demand for men's formal clothing has been increasing over the past several years. Formal wear is a category of apparel that may be worn at formal occasions or events like weddings. Typically, it is more formal than both semi-formal and casual attire. Business suits and professional gowns for ladies are also considered proper attire.

Current Top Fashion Trends

The topical breakdown of prospective marketing segments for Indian men's formal suits entails segmentation on the basis of price matrix say e.g. luxury and affordable, as well as possibly on style-based segments like conventional/stereotypes and contemporary, to serve varied/diverse consumer preferences & choices.

Increasing sales of men's formal wear goods or services is a critical trend in this market. The movement might be traced to men's increased desire for the highest quality formal attire, which is a result of the impact of social media.

Snapshot; Harping on the usage of often used most popular fabrics used in Indian Men's formal suits category are such as wool/worsted, linen, cotton, silk, and their blends with permutation & combinations, keeping in mind the occasion and climate of the nation.

Types and styles; These span from classical single-breasted and double-breasted suits, bandhgala, achkan, Jodhpuri, and Nehru jacket suits and, many more imaginative styles and embellishments.

Women in Power

The growth of the global market for formal wear is also anticipated to be aided by a rise in the number of women that work in it. Growth in the number of working women is one of the critical elements driving up demand for women's formal dresses or gowns worldwide. Also, the expanding fashion sector will greatly contribute to the expansion of this market.

Size and scope

Decoding the landscape of this market realising that draping and bespoke tailoring has a valued scope in the Indian men's formal suits category market too. Given that today’s male is continuously becoming more & more fashion & appearance conscious, also understanding that formal men’s suits are more of an engineered garment leading to the growing unique demand for personalized and perfectly fitted suits, bespoke tailoring offers a unique and luxurious experience to stake its serious claim.

Whlist on the contrary Draping is supposed to be an art that creates fluid and comfortable apparel/garments that are suitable & appropriate for typical Indian climatic conditions.

Dialing back; The market size of Indian men's formal suits was valued at over INR 8,000 crore in 2019 and the projection was very sanguine as the segment is projected to grow at a CAGR of around 9% during the coming years, driven by factors like the steady rise of urbanization and rising disposable incomes through the years.

Considering that Friday dressing has gained currency & acceptance in recent years in the globalised world, formal suits still remain an essential part of Indian work culture and this segment holds ground, worn for a multitude of reasons & occasions such as corporate/business meetings, formal-interviews, and an array of formal situations/moments.

Value accretion; Another interesting evolving trend of the Indian men's formal suits and the way its market & scope is growing, with a sharp focus on trans-seasonal styles that can be worn year-round to add width and depth to this segment as a real option.