Solidifying its position as a leading fashion brand, Max Fashion plans to open 50 new stores this year, taking its total store count to a 550 by year's end.

Marking a significant milestone, Max opened its 500th store in Pune recently. Covering 10,699 sq ft across two floors, this expansive store offers trendy apparel, footwear, and accessories to cater to the diverse needs and styles of discerning customers.

With its vision going beyond, just numbers, Max Fashions aims to elevate customers’ shopping experience by revamping its stores across the nation. The brand plans to transform its stores into bigger and better fashion hubs to offer customers a world-class experience.

Max Fashion also aims to cultivate deeper brand loyalty by fostering meaningful connections with customers and offering high-quality products at affordable prices.

Sumit Chandna, President and Deputy CEO, says, with its commitment to provide a world-class shopping experience, Max Fashion is poised to become a dominant player in the market. The brand aims to rewrite the rules of the Indian fashion through its focus on innovation, enhanced customer experience and strategic expansion.

Fashion brand Kazo has roped in Bollywood actress Janhvi Kapoor as the face of its new Spring Summer 2024 collection. The brand opines, this will help it expand customer base and boost sales of the newly launched collection.

The new Spring/Summer collection features an array of printed co-ord sets, shirts, blazers, floral tops, trousers, and dresses.

Divya Aggarwal, Creative Director, Kazo, says, the SS ’24 collection promises to showcase versatile styles and elevated fashion, seamlessly blending work, social, and glamour aesthetics.”

Siddhant Aggarwal, Director- Operations, adds, Kapoor’s presence will undoubtedly boost the brand’s online and offline endeavors. This collaboration marks a significant step forward in engaging with our diverse customer base, propelling us towards greater heights in the fashion industry.

Kazo’s new collection is available on Kazo’s website, mobile app, and e-commerce platforms like Myntra, Ajio, Nykaa Fashion Amazon, Tata Cliq, Flipkart and Shoppers Stop.

India's leading squash player, Saurav Ghosal, has signed a brand partnership with Asics, a global sports performance brand. This move signifies ASICS' commitment to supporting and empowering Indian sporting talent.

Boasting of a remarkable career, Ghosal has several achievements to his credit. He was the first Indian to reach the Top 10 in world squash rankings. He has won a record 13 national championships and medals in 9 Asians Games, and a bronze trophy in Commonwealth Games-Singles

Highlighting Ghoshal’s dedication and achievements, Rajat Khurana, Managing Director, Asics India, said, he will continue pushing the boundaries in the sports.
As part of the partnership, ASICS will provide Ghosal with their top-of-the-line footwear and apparel for training and competitions.

This collaboration joins Ghosal with other ASICS athletes like tennis stars Sumit Nagal, Rohan Bopanna, and Karman Kaur Thandi, cricketer Prasidh Krishna, marathon champion T. Gopi, squash star Joshna Chinappa, and hockey legend Manpreet Singh.

Iconic denim brand, Pepe Jeans India has teamed up with Algonomy, a leader in merchandise analytics technology, to enhance its journey towards data-driven success. This exciting collaboration aims to elevate operational efficiency, enhance customer experiences, and ultimately drive profitability in the ever-evolving fashion landscape.

Under this collaboration, Algonomy's state-of-the-art platform will unity various data sources and offer a comprehensive view across crucial aspect of Pepe Jeans’ business. The platform will provide valuable insights on everything from sales and inventory to pricing and promotions, thus enabling the brand to make informed decisions.

The platform will also allow Pepe Jeans India to delve deeper into data analysis and foster a culture of innovation within its team. Additionally, advanced machine learning algorithms will help the brand predict future selling prices with impressive accuracy, leading to optimised markdowns based on various factors like historical sales, trends, and competitor analysis.

Manish Kapoor, MD & CEO, Pepe Jeans India, says, the platform is a game-changer and offers comprehensive and predictive view of Pepe Jeans’ business. It empowers the brand to make strategic decisions and elevate customer experiences. This partnership will revolutionise the brand’s approach towards pricing strategies and unlock new exciting opportunities, he adds.

Amit Agarwal, SVP – Sales & Business Development (APAC & MEA), Algonomy, agrees, partnering with Pepe Jeans India is a true testament to the transformative power of Algonomy’s technology, he adds.

Despite current headwinds, India's largest ethnic wear retailer, Vedant Fashions remains bullish about its expansion plans, particularly targeting the untapped South Indian market.

The Indian wedding market is currently experiencing a slowdown compared 2023's post-pandemic rebound. Middle-class consumers are tightening their belts, impacting discretionary spending. This is translates to a no-growth year for Vedant Fashions, with net profits dipping by 6.8 per cent

The pinch is been felt more by lower middle class and working class consumers of the company, while affluent consumers continue to splurge

This huge gap in the urban and rural revenues is impacting the sales of brands like Manyavar and Mohey. However, high-end designer brands catering to the affluent, like Ritu Kumar and Sabyasachi, are flourishing.

Undeterred by the slowdown, Vedant Fashions’ retail space increased by 172,000 sq ft to 1.64 million sq ft in FY24. Its store count also jumped to 673 from 530 in the same period.

Luxury leather goods brand, Gioia has opened its third store in India, located in the Phoenix Mall of Asia in Bangalore.

The store offers a wide range of leather goods, including handbags, wallets, and belts. To celebrate the grand opening, Gioia has launched an exclusive limited-edition Bella collection that will only be available at the new store.

The store represents a significant leap for the brand. It amplifies the brand’s passion for creating unforgettable experiences besides mirroring its vision of luxury in truest form, says Diksha Bhatia, Director and CEO.

Gioia was founded in 2021 and has quickly become a popular luxury leather goods brand in India. The brand has a strong online presence and now has three physical stores in India.

15 February 2024, Mumbai

India's growing consumer base is hungry for style, and the fashion and apparel industry is playing an integral role fulfilling these desires. With a projected CAGR of 9 percent until 2025, the industry is poised to become a $190 billion giant by 2026.

But how is the share of fashion and apparel changing within this growth story? Let's dive into the segments, sectors, and cities shaping the future of Indian fashion.
Segment savvy
The Indian apparel market is divided into three-tiers: Premium, mid-price, and economy.
Premium: This segment is seeing explosive growth, fueled by aspirations and brand consciousness.

Much more to it

While the premium segment holds a smaller share, it's experiencing the fastest growth. Rising incomes and brand consciousness fuel this trend, with consumers seeking luxury experiences and designer labels. Think Zara, H&M, and Indian high-street brands like Fabindia.

As per Bain & Company, the premium segment grew at a CAGR of 15 percent from 2017-2022, compared to 8 percent for the overall market.
Mid-price: Interestingly, the mid-price segment remains dominant, catering to the vast middle class seeking quality and affordability. Brands like Levis, Gap, and Lifestyle are catering this segment.

It's expected to grow at a stable CAGR of 8–10 percent, driven by value consciousness and wider product offerings.
Economy: While facing competition from online players, this segment is expected to see moderate growth thanks to its affordability and reach in smaller towns.

Even though its facing pressure from online discounts and brand proliferation, it maintains a steady presence due to its price sensitivity and mass appeal. Brands like Manyavar and Pothys continue to hold strong positions.
Categorywise growth
Menswear: Dominating the market (55 per cent), this sector sees growth in athleisure, casual wear, and formal segments. Men are increasingly experimenting with fashion, driven by rising disposable income and changing lifestyles.
Womenswear: This segment with 35 per cent share is witnessing rapid growth, fueled by urbanization, career aspirations, and evolving fashion trends. Athleisure, western wear, and fusion styles are gaining traction.
Kidswear: This segment with 10 per cent share is expected to grow at a healthy CAGR of 8.8 per cent, driven by rising awareness of child development and brand consciousness among parents.
Cityscape: Tier II & III take center stage
Traditionally, metros and Tier-I cities dominated apparel consumption. However, the story is changing with metros like Delhi, Mumbai, Chennai, Kolkata still holding a significant 40 per cent share but facing saturation.

Consumers here seek niche brands and personalized experiences.
Tier-I cities like Pune, Bangalore, and Hyderabad, with a 25 percent share are witnessing rapid growth, driven by young populations and rising incomes.

Intriguing data-point

These markets favour mid-price brands and omnichannel shopping. Tier II and III cities, with a 35 percent share, is emerging as the fastest-growing market (CAGR 9.5 per cent), fueled by increasing disposable incomes and aspirations. Consumers here seek value for money and are receptive to online platforms.
Forward statement

As India's fashion and apparel sector looks ahead to continued growth, with diverse segments, sectors, and cities contributing to its dynamism, understanding the shifting dynamics and consumer preferences will be key for brands to succeed.

By focusing on personalization, omnichannel strategies, and catering to the specific needs of each segment and region, brands can be part of India's fashion revolution.

Latest Textile Events

Expanding its retail presence in India, sportswear brand New Balance has launched a new store in Hyderabad.

Located at the Sarath City Capital Mall, the store is the first-of-its kind retail concept store in India. Radeshwer Davar, Country Manager – India. New Balance, says, the symbolising more than just a retail space, the new store is a symbol of the brand’s commitment to bringing the New Balance experience closer to its customers.

The brand chose to expand its store network in Hyderabad as the city offers a dynamic blend of modernity and tradition. The vibrant and active lifestyle of the people in the city aligns with the brand’s ethos seamlessly, Davar adds,

New Balance plans to further expand its retail presence in India by opening a store in the city of Pune next month. 

Bamboo-based kids fashion brand Kidbea plans the use the $1 million funds it raised in a pre-series A round to boost its marketing and branding initiatives.

Besides, the brand also plans to expand its team and improve operations. It will also allocate a portion of these funds for research and development of new technologies, says Apoorva Ranjan Sharma, Cofounder and Managing Director, Venture Capital which led the brand’s funding round.

The funding round was also attended by Agility Ventures and BestVantage Investments, as well as Sandeep Agarwal and Upasana Agarwal, Founders, Droom alongside a group of experienced angel investors, and Japanese actor Hiro Mizushima.

The funding will help the brand improve its sustainable offerings and expand global presence, says Swapanil Srivastav, Co-founder, Kidbea

Founded in 2021 by Swapnil Srivastav, Mohammad Hussain, and Aman Kumar Mahto, Kidbea offers bamboo plant-based, skin-friendly children's apparel. The garments made by the brand help deal with issues such as discomfort, skin rashes, and food spillage in newborns. The GOTS (Global Organic Textile Standard) certified clothing is environmentally friendly and gentle on children's skin.

Currently present on all major online platforms, Kidbea is also available in over 30 partner stores of premium children's hospitals. Besides, the brand is available in international markets including UAE, Bahrain, and Australia. It mainly retails kids' rompers, bodysuits, reusable cloth diapers, soft toys, and accessories.