GlobalData: India’s apparel sales to reach Rs 7.6 trillion by 2025

05 April 2022, Mumbai:

A report by leading data and analytics company GlobalData predicts that India’s apparel sales will return to 2019 levels during the current year to Rs 5.8 trillion ($75.2 billion) and further scale up to Rs 7.6 trillion by 2025.

The report states, that easing restrictions, store reopening, and return of social gatherings helped the Indian apparel market to grow to Rs 4.9 trillion in 2021.

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However, sales remained below 2019 levels during the year. Suresh Sunkara, Retail Analyst, GlobalData opines, India’s growing middle class, with higher disposable income, will bolster the growth of the apparel market this year.

Shift in consumer lifestyles due to rapid urbanization, increasing demand for products such as formalwear and sportswear, and greater access to apparel brands, both in-store and online will also support demand for more trend-led items this year, he adds.

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The pandemic led disruptions helped brands boost their online presence from 10 per cent in 2019 to 18 per cent in 2021.

The trend is expected to continue with many foreign and domestic brands making deeper inroads over the next three years, the report adds.

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