Major outdoor gear, footwear and apparel brand, Woodland expects its business to grow at a good rate in the forthcoming season. “We expect increased demand for apparels, shoes and accessories,” says Harkirat Singh, Managing Director. Well established in knitwear segment, the brand offers T-shirts in polo, round and V-neck style. “Our T-shirts are designed according to latest trends, and consumers’ choices and preferences. These are available in bold colors such as maroon, red, violet and chocolate brown. We also offer light, soothing hues such as sky blue, peaches, nudes and whites as well,” Singh explains.
Exponential growth estimates for T-shirts
“Currently estimated to be worth Rs 23,211 crore, the T-shirts market in India is expected to grow at a promising CAGR of 10 percent to reach Rs 61,954 crore by 2027,” Singh says. As per industry stats, men’s segment holds a major share followed by women’s and kids. However, the women’s segment is growing at a rapid pace due to the comparatively lower base of its size, and increasing acceptance of casual clothing amongst women. “Comfort, design, affordability etc are propelling growth of the T-shirt market in India,” Singh observes.
Brand awareness fuels segment growth
Singh points out the branded T-shirt market in India is doing well. With more brands opening stores, and more money being spent on apparels, the market is witnessing constant growth. “Indian consumers’ shift from formal to trendy and casual clothing has boosted growth of this segment in India. Its popularity is further augmented due to the easy availability and affordability of T-shirts. The category is likely to witness immense growth in the next five years,” he informs.
Singh also refutes the allegation that the branded segment is over-priced. “In India, we have brands for every category of consumers; there are expensive as well as affordable brands, so one cannot say it is overpriced. However, branded products are more expensive compared to non-branded because of their quality,” he adds. Moreover, brand awareness has increased tremendously in the last 8-10 years and people are seeking out products from well-known brands. “The branded segment is almost on par with global markets and is likely to grow in future,” Singh sums up.