A leading fashion, beauty, and lifestyle destination in India, Myntra has released the inaugural edition of the 'Myntra Trend Index', a comprehensive report spotlighting the latest fashion trends observed among its millions of customers in the fiscal year 2024.

The report delves into the fashion preferences of consumers, highlighting significant shifts in fashion, beauty, and lifestyle choices.

One notable aspect of the report is the overwhelming embrace of Myntra by consumers, with a remarkable 75 million trend seekers joining the platform in the past year, with 65 per cent hailing from non-metro areas, demonstrating the widespread appeal of fashion across the country.

Emphasising the insights provided by the report, Sharon Pais, Chief Business Officer, Myntra, indicates a noticeable shift towards premiumisation and an increasing adoption of diverse fashion and beauty trends across different consumer segments.

The report reveals intriguing findings regarding color preferences, with men favoring shades like white, grey, teal, and olive, while women leaned towards ethereal pastel hues such as beige, peach, and lavender. Classic colors like black and blue maintain their timeless appeal across various demographics.

GenZ emerged as a significant influencer of fashion trends during the year, with preferences ranging from varsity jackets to bling dresses. Traditional attire underwent modern transformations, with monochromatic lehengas and metallic sarees gaining popularity, alongside a surge in demand for Bollywood-inspired looks.

Accessories played a pivotal role in completing fashion ensembles, with vintage-inspired watches and monogram bags adding a touch of sophistication.

Men embraced trend-first fashion, with crochet shirts and bold graphic tees making statements. Comfort remained a priority, reflected in the demand for oversized t-shirts and baggy cargos.

The beauty and grooming landscape witnessed a notable transformation, with a focus on science-backed skincare and meticulous hair care routines, particularly in non-metro regions.

The report also highlights the unique fashion identities of different cities, with Delhi earning the title of 'Jeans Capital', Kolkata as 'the Kurta Capital', Pune leading in T-shirt purchases, and Bengaluru emerging as the 'Dress Capital'.
Millennials and Gen-Zs showcased their distinct fashion preferences, with smart polos and fusion co-ords gaining traction among the former, and hypergraphic oversized T-shirts and denim corsets capturing the attention of the latter.

Overall, the 'Myntra Trend Index' provided valuable insights into the dynamic fashion landscape of India, underscoring Myntra's role as a premier destination for fashion, beauty, and lifestyle enthusiasts across the country.

While online apparel shopping witnessed a rise during the pandemic, physical stores and markets continue to be the preferred choice for a majority of Indian consumers, according to a new study by LocalCircles.

Online gains traction, but in-store try-on reigns supreme

The report, titled "How India Buys Apparel," surveyed over 35,000 consumers across the country and revealed that only 4% of households exclusively use online platforms for clothing purchases. In contrast, nearly half (47%) prefer to shop in stores, citing the ability to try clothes on before buying (81%) as the main reason. This aligns with findings from a separate report, "Apparel Consumption Trends in India," which emphasizes the importance of the "touch, feel, and try" experience for Indian consumers.

Seamless experiences key in evolving market

The LocalCircles study highlights the importance for retailers to cater to both online and offline preferences. While online platforms offer convenience and discounts, as cited by 40% of respondents who shop both online and offline, physical stores provide a tactile shopping experience with easier returns and instant gratification. This shift in consumer behaviour underscores the need for retailers to provide a seamless and enjoyable shopping experience across all channels.

Thriving industry demands adaptability

The domestic textile and apparel industry contributes nearly 2% to India's GDP and is poised for further growth, according to the "Apparel Consumption Trends in India" report. It forecasts the total Indian apparel consumption expenditure to reach Rs 9.35 lakh crores or $105.5 billion in 2024. This dynamic market demands adaptability from retailers. By understanding and addressing the key factors that influence consumer buying decisions, such as convenience, price, and ability to try on clothes, retailers can better serve their customers and drive growth.

Denim lifestyle brand Levi's plans to expand its international presence by opening new stores in key locations in Bangladesh including Chittagong in the coming months.

The brand recently forayed into the Bangladesh market in partnership with DBL Group. It opened its first store across 2.270 sq ft in Dhaka to offer a wide range of products including denims, non-denims, and tops for both men and women tailored to regional preferences.

Amisha Jain, Managing Director, South Asia-Middle East and Africa (SAMEA),Levi Strauss, says, the brand’s first store in Dhaka supports its focus on the direct-to-consumer retail and aligns it with a dynamic market propelled by the consumer base and swift urbanisation in cities such as Dhaka and Chittagong.

Levi’s strategic entry into the Bangladesh market and distinctive strategies position it to forge a robust presence and foster sustainable growth, adds Jain.

Levi Strauss & Co’s products are sold in more than 110 countries worldwide through a combination of chain retailers, department stores, online sites with a global footprint of around 3,200 brand-dedicated stores and shop-in-shops. 

Powerlook, the distinguished men’s fashion brand, proudly opens its seventh store at Phoenix Mall, Viman Nagar, Pune, marking a significant milestone in its ambitious growth plan to establish 50 outlets nationwide by 2027.
With existing strongholds in prominent areas like Bandra West and Thane, the brand aims to cater to India's fashion-forward youth, expanding into cities such as Bangalore, Hyderabad, and Ahmedabad.
Co-founder Raghav Pawar expressed excitement about the Pune flagship's launch, emphasizing Powerlook's dedication to nationwide expansion. The Indian menswear market, projected to reach Rs 330,000 crores by 2028, is experiencing a surge, driven by the youth's increasing demand for smart fashion.
The debut of the Pune store was met with overwhelming success, with over 50 per cent of its stock sold on the first day. Attended by influencers and esteemed guests like Danny Pandit, the grand opening attracted over 1000 customers, reaffirming Powerlook's popularity among the youth.
Co-founder Amar Pawar highlighted Powerlook's commitment to offering trendsetting apparel that resonates with the youth's style preferences.

India's retail sector is bouncing back! A survey by the Retailers Association of India (RAI) shows an 8 per cent sales increase in March 2024 compared to March 2023.
This suggests a recovering market, driven by increased spending on apparel and sporting goods. While jewelry sales dipped slightly due to rising gold prices, categories like consumer durables and IT are expected to pick up soon.

Sanguine about the near-term future

The upcoming 2024 elections are fueling optimism. Historically, elections boost economic activity, and the RAI anticipates a similar trend with higher spending across regions and categories, especially FMCG and consumer durables.
The retail-pie

Regionally, South India leads with a 9 per cent sales rise, followed by West (8 per cent), North (7 per cent), and East India (6 per cent).

In terms of products, sporting goods saw the highest growth (11 per cent), followed by apparel and beauty (10 per cent each).
Adding to the positive outlook, retail chains are resuming expansion plans across the country.

Aditya Birla Fashion and Retail Ltd’s (ABFRL) fashion retail store chain Style Up has increased in store count in South India by opening its third store in Bengaluru.
Located at Jayaprakash Nagar, the store offers a wide range of retail brands by ABFRL including Louis Philippe, Allen Solly, Peter England and Van Heusen, catering to men, women and kids.

Established in 2019, large-format fashion store chain Style Up currently operates 29 stores across 20 Indian cities. The store chain is operated by the Aditya Birla Group-owned company ABFRL which also owns other brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England.

ABFRL also has long-term exclusive partnerships with select international brands such as Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle,Reebok and Galeries Lafayette. It currently has 3,977 stores across approximately 33,535 multi-brand outlets with 6,723 points-of-sales in department stores across India as of March 2023.

While e-commerce is booming in India, for apparel, physical stores remain the undisputed king. A recent LocalCircles study suggests a growing interest in online apparel purchases almost 40 per cent shop online and offline, however, physical stores remain the undisputed leader with 81 per cent still preferring to shop in stores. So, how is fashion e-commerce shaping up in India, and how does it compare to global trends?
E-commerce growing but still lags behind
India's e-commerce sector is undeniably booming, with IBEF projecting a market size of $350 billion by 2030. However, apparel seems to be lagging behind other product categories. As the LocalCircles study reveals only 4 per cent rely solely on online apparel purchases. This can be attributed to the importance of the ‘touch-and-feel’ factor, as highlighted by 81 per cent of respondents preferring physical stores.
E-commerce growth in India is pushed by increasing internet penetration, smartphone adoption, and a young, tech-savvy population. However, compared to the US or China, where online apparel sales dominate, India's e-commerce journey in apparel is just beginning.
Apparel vs other categories, a tactile disconnect
Unlike electronics or books, where online purchases are hassle-free, apparel presents a unique challenge. The ‘touch-and-feel’ factor is crucial for Indian consumers, as evidenced by the LocalCircles study. This is further supported by a report by Assocham and Deloitte which highlights that trust in size charts and return policies remains a hurdle for online apparel purchases. While in electronics or groceries, online reviews and detailed descriptions suffice, apparel relies heavily on trying clothes on for fit and feel. This creates a hurdle for online retailers, despite the convenience and discounts they offer.
While various studies project an increase in online apparel sales, the practical growth might be slower. The LocalCircles study suggests a preference for offline shopping even after the pandemic-driven online surge. The study reveals that only 4 per cent of households rely solely on online platforms. This highlights the importance of physical stores for the Indian apparel market.
In fact, compared to western markets like the US and Europe, where online apparel sales flourish, India lags behind. China, on the other hand, offers a closer comparison. Similar to India, a significant portion of Chinese consumers prefer physical stores for apparel purchases due to the importance of fit and quality says McKinsey report on China's Apparel Market.
Stronger online presence in apparel shopping in the West and China can be attributed to factors like higher internet penetration, a culture of online trust, and established return policies. However, even in these markets, physical stores haven't vanished. Many major retailers offer seamless omnichannel experiences, integrating online and offline shopping.
Reasons for India's offline preference
Several factors contribute to India's unique shopping landscape:
Cultural preference for physical stores: The social aspect of shopping, bargaining at local markets, and the importance of immediate gratification all favor physical stores. Also, the ability to try clothes before buying is deeply ingrained in Indian shopping habits.
Limited trust in online retailers: Concerns about product quality, sizing issues, and return hassles can deter online purchases, especially for high-involvement purchases like apparel.
Logistics and infrastructure challenges: Cash-on-delivery remains popular, and reliable delivery networks, especially in smaller towns, are still evolving. A robust and efficient delivery network is crucial for online apparel sales. However, India's vast geography and underdeveloped infrastructure pose challenges for e-commerce companies.
Road ahead
Indeed the future of Indian apparel shopping lies in a harmonious blend of online and offline experiences. Retailers need to offer seamless omnichannel experiences. Click-and-collect options, easy online returns accepted in stores, and robust virtual try-on technology can bridge the online-offline gap.
They also need to build trust and transparency. Clear sizing charts, detailed product descriptions, and hassle-free return policies are crucial to win over online shoppers.
Leverage technology for a personalized touch. Recommender systems and AI-powered styling suggestions can enhance the online shopping experience.
India's apparel market is at a crossroads. While e-commerce holds immense potential, physical stores remain a dominant force. Understanding the reasons behind this preference and adapting to the evolving consumer landscape will be key for retailers to thrive in this dynamic market.

A brand founded on the fusion of fun and functionality in everyday wear, Feier has forayed into the Indian activewear market. Led by Natasha Vora, a seasoned designer with over a decade of experience, Feier has launched a range of high-quality, sustainable clothing designed to elevate both style and comfort. The debut collection includes stretchy, luxuriously soft innerwear pieces destined to become wardrobe staples for their exceptional comfort.

Feier has leveraged seamless technology and vibrant design to create distinctive activewear that rivals international brands. These garments allow customers to stretch and move seamlessly, says Natasha Vora, Founder.

Emphasising on fun and self-expression, Feier embraces vibrant colors, and celebrates one's unique style. It offers everything from essential pieces like ruched front leggings to the intricately designed Breeze Leggings, and fashion-forward items like the One Shoulder Ribbed Bra and the Remix set.

Each Feier piece is meticulously crafted with care and mindfulness. The brand operates from a state-of-the-art facility in Mumbai and is dedicated to supporting the local community through job opportunities. It specialises in premium activewear with a mission to celebrate movement.

Fashion retailer V2 Retail is gearing up for an ambitious expansion drive with plans to add 35-40 new stores in FY25.

The company plans to invest around Rs 100 crore towards this expansion, says
Akash Agarwal, Whole-time Director, reveals. In FY24, the company witnessed a significant turnaround in its operational performance, rebounding from the challenges posed by the pandemic-induced inventory overhang that affected its liquidity.

In the first nine months of the fiscal year, V2 Retail experienced a remarkable same-store sales growth (SSG) of 29 per cent, with a staggering 40 per cent increase in the fourth quarter alone. Additionally, the average sales per square foot surged by 29 per cent, demonstrating growth across all regions. Notably, Karnataka led the pack with a remarkable 50 per cent SSG in Q4.

This success was attributed to strategic reallocation of space based on sales performance of different product categories. For instance, the company observed that half-sleeved casual shirts outsell full-sleeved shirts in the South, while the trend reverses in Bihar and UP. Consequently, V2 Retail made adjustments in assortment and space allocation to optimize sales potential.

In the upcoming fiscal year, V2 Retail is set to open new stores across a total area of 4 lakh sq ft. The initial phase will see the launch of 20-35 stores, followed by further expansion. The capital expenditure for this expansion is estimated at approximately Rs 40 crore, with an additional Rs 50 crore allocated for inventory. Moreover, the retailer is gearing up to embrace an omni-channel strategy within the next two-three months, further augmenting its reach and customer engagement.

Within 12 months after the completion of the vertical demerger of Madhura Fashion & Lifestyle, ABFRL plans to raise about Rs 2,500 crore equity capital to strengthen its balance sheet and fund the growth of the remaining businesses.

The demerger is expected to unlock significant value for the shareholders of ABFRL as each of the listed entities will have their own distinct capital structures, independent growth trajectories, and value creation opportunities, the company said in a statement.

The demerger will be implemented through an NCLT scheme of arrangement and upon its completion, all shareholders of ABFRL will have identical shareholdings in both the companies.

The newly-listed entity Aditya Birla Lifestyle Brands (ABLBL) will house the business consisting of lifestyle brands including Louis Phillippe, Van Heusen, Allen Solly & Peter England; casual wear brands American Eagle & Forever 21 and sportswear brand, Reebok and the innerwear business under the Van Heusen brand

Meanwhile, Aditya Birla Fashion and Retail (ABFRL) will house the remaining businesses including value and masstige fashion retail play under Pantaloons & Style Up, one of India’s most comprehensive ethnic wear portfolios, a recently acquired portfolio of TCNS brands, a fast-growing bridge to luxury & luxury platform of The Collective, Galleries Lafayette and select luxury brands, and a leading portfolio of digital-first fashion brands, TMRW.

ABFRL further said that the business assets and liabilities will be split between the two companies in accordance with the prescribed regulatory provisions. In line with this, the overall ABFRL borrowing, which is estimated to be around Rs 3,000 crore as of March 31, 2024, will be split between the two companies. The estimated debt to be transferred to ABLBL will be Rs 1,000 crore, and the balance will continue to stay with ABFRL.