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.
