23 October 2023, Mumbai
Why India
India is rapidly becoming a global center for fashion, as shown by its status as one of the world's fastest-growing and most competitive fashion markets.
The growing interest from global brands highlights this remarkable change.
There are five main reasons why India is so appealing for global fashion brands:
India's population of over 1.4 billion and its expected middle-class of 547 million by 2025 make it a huge opportunity for global fashion brands.
The Indian people show positive spending patterns and high brand awareness, making it a land of possibility for international brands.
E-commerce: The development of e-commerce is expected to support this growth, creating opportunities for fashion retailers and producers.
Rising incomes: increasing brand awareness, along with rising incomes and internet access, motivates consumers to buy quality brands.
Global issues: Global issues have encouraged the international clothing and fashion industry to explore India's growth story, thus extending its global reach.
The fashion industry is valued at around $2.5 trillion worldwide, and India is poised to play a major role in this growing market.
5 key insights:
- $2.5T fashion industry
- India: fast-growing, competitive
- Global brands attracted
- 5 reasons for appeal
- Demographics, demand, e-commerce, rising incomes, global issues
