Intex India 2023

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Gokyo expands: Unveils trendsetting outdoor store in Mumbai

Gokyo, the homegrown outdoor apparel and accessories brand, has unveiled its inaugural store in Mumbai's Malad district, showcasing a diverse product line, including trekking pants, jackets, base layers, and accessories like trekking poles and sleeping bags. Expanding its footprint, Gokyo plans to grow through franchising and partnerships with outdoor apparel outlets nationwide.

Having initially thrived online, Gokyo, operational for just a year, gained significant momentum through its website, Instagram, and Amazon presence. The brand now aims to strengthen its online standing by venturing into multi-brand e-commerce platforms.

Founder Venkatesh Maheshwari, also known as Venki, a seasoned trekker and mountaineer with three decades in the apparel industry, emphasizes Gokyo's significance as more than a brand—a manifestation of a Himalayan-inspired dream delivering premium outdoor wear for like-minded Indians.

Gokyo expands: Unveils trendsetting outdoor store in Mumbai

Grand inauguration of CMAI’s ‘Brands of India’ trade show in Dubai

In a historic celebration of trade and cultural exchange, the inaugural Brands of India trade show, organized by the Clothing Manufacturers Association of India (CMAI), commenced at the Dubai World Trade Centre. Butti Saeed Al Ghandi, Vice-Chairman of the Dubai World Trade Centre, presided over the grand inauguration, setting the stage for a captivating showcase in Halls 6 & 7 from November 27th to 29th, 2023.
International collaboration on display
Supported by key entities such as the Embassy of India-UAE, TEXMAS, Dubai International Chamber, and the Readymade Garments Merchants Group Dubai, the event underscores the rapid expansion of Indian businesses in the UAE market. This surge is attributed to the positive momentum following the India-UAE Comprehensive Economic Partnership Agreement (CEPA) signed in 2022.
Government support and vision
Commending CMAI for Brands of India, Piyush Goyal, Minister of Commerce & Industry, highlighted the platform as an excellent opportunity for Indian brands to establish a global presence. Under the leadership of Prime Minister Narendra Modi, the Indian government is dedicated to fostering a world-class textile sector. The event aligns with the government's vision of promoting Indian brands globally.
Strengthening economic ties
Rajesh Masand, President of CMAI, emphasized the long-standing economic and cultural ties between India and the UAE. Brands of India serves as a catalyst, empowering Indian Apparel brands to strengthen their presence in the MENA region. Masand also highlighted the recent cooperation in digital currencies between the two countries, a development set to further boost business.
Fashion diplomacy
Butti Saeed Al Ghandi, Vice-Chairman of the Dubai World Trade Centre, as the Chief Guest, emphasized the power of fashion to transcend borders and create lasting connections. He expressed delight at witnessing an event that promotes diversity and showcases the vibrant tapestry of Indian brands.
Global recognition and participation
Jayesh Shah, Chairman of Brands of India, expressed excitement over the overwhelming response, with more than 350 brands participating instead of the initially envisioned 150. Renowned brands like Oxemberg, J. Hamstead, and Louis Philippe are among the 1500 buyers from over 30 countries who have pre-registered, affirming the show's potential to create exciting business prospects for Indian brands in the region.
Expanding global presence
Sunjay Sudhir, Ambassador of India to UAE, highlighted the global appeal of Indian brands and the immense scope for expansion in the Gulf, Middle East, Africa, and Europe under CEPA.
In conclusion, Brands of India is poised to be a key milestone in the international journey of Indian Apparel brands, showcasing a diverse collection spanning Western wear, Indian Ethnic wear, and Fusion wear.

Grand inauguration of  CMAI’s ‘Brands of India’ trade show in Dubai

Intex Textile Conclave (ITC)

23 November 2023, Mumbai

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Mark your calendars for December 7 and 8, 2023, as ITC unfolds at Hall 1C, IICC, Dwarka, New Delhi.

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Gulabdas Group launches India’s softest activewear brand

Prithvi Bhagat, a fourth-generation entrepreneur associated with the Gulabdas Group, has introduced Strch, India's softest activewear brand. With a vision to transform how Indians interact with activewear, Strch capitalizes on the exceptional quality of nylon fabric, empowering consumers to maximize the stretchability of their garments. Strch caters to both men and women, presenting a diverse collection of stylish joggers, polo shirts, crop tops, sports bras, shorts, skirts, and more.

The garments offered by Strch boast of a variety of features, including fashionable designs and colors, storage pockets, durability, lightweight feel, quick-drying capability, wrinkle resistance, and anti-odor properties. Specifically tailored for the Indian body type, Strch garments provide a comfortable fit around the stomach area and incorporate spandex for added stretch.

Gulabdas Group launches India’s softest activewear brand

Weak demand forces innerwear brands to offer steep discounts

24 November 2023, Mumbai

Diminished demand and a surplus of inventory have compelled innerwear and athleisure wear brands to extend substantial discounts to customers in recent weeks. The Men's Underwear Index (MUI) reflects a downturn in India's men's underwear market, mirroring broader economic challenges. Page Industries, the proprietor of Jockey and Speedo brands in India, reported an 8.4 per cent revenue decline and an 8.8 per cent volume reduction in the September quarter.

Presently valued at $6.3 billion, the men's underwear market constitutes 9 per cent of the total domestic fashion retail segment. Despite its significant size, the market remains highly fragmented and disorganized. VS Ganes, Managing Director of Page Industries, underscores that many brands are resorting to unsustainable business practices due to the burden of excess inventory.

Brands attribute the deceleration in demand to a high base, particularly in the athleisure wear segment. Additionally, consumers have curtailed non-essential spending on apparel since Diwali last year, influenced by factors such as inflation, escalating interest rates, job losses in sectors like startups and IT, and an economic slowdown. The market has also witnessed disruptions from digital-first brands like XYXX, Damensch Almo, Bummer, and Freecultr, enticing consumers with attractively priced products.

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Diwali sparkle missing from garment sales as inflation affects discretionary spending

Diwali has a tradition of lighting up India’s retail landscape well before the actual festival and sales gallop across categories including garments. Diwali 2023 concluded on November 12. However, representatives of the garment sector are unhappy with the sales outcome. Business was mixed say many as expectations were not met.

Garment sales did not shine
As chief mentor of the Clothing Manufacturers Association of India (CMAI), Rahul Mehta opined, Diwali 2023 was not the happy place Indian garment retail had thought they would find themselves in. The big story in India’s financial media is also on this outcome, trending Diwali 2023 as an unsatisfactory one for garment retail. As Mehta says, Diwali 2023 performance was the weakest post Covid. Garment retail hasn’t yet figured out why sales didn’t pick up when FMCG products, domestic appliances, automobiles and personal devices did well. Could it be that this festive season, consumers prioritized the social and religious aspects of festivities by investing in upgrading homes, buying gold and silver and of course spending more on entertainment?
Or could it be that impulsive garment purchases throughout the year is seeing well-stocked wardrobes that don’t need more? The Bhivandi powerloom industry, which caters to the garment needs of domestic market, is taking a 20-day holiday this month due to the bearish trend that has affected the entire textile value chain including cotton farmers, ginners and spinning mills. In 2022, Diwali clothes and footwear sales increased almost 97 per cent compared to 2021. However, in 2023, Diwali sales are in single digits.

Is inflation to blame for dull Diwali?
Latest RBI inflation figures reveals 5.4 per cent level will continue in fiscal year 2023-24. This indicates a rise of 0.3 per cent from last year. As per YouGov India survey, 31 per cent of urban Indians planned to spend more during Diwali 2023, down from36 per cent in 2022. And 68 per cent of those who planned to spend more said they would spend more on new clothes but the post Diwali figures don’t seem to add up to this claim of spending more on clothes. The research also stated that the mood of Indians was to enjoy the festive season without incurring excessive expenses on non-essentials.
Although urban Indians appear to be in a better monetary position, the rising cost of living could have had an impact on their spending behavior this Diwali. In the report, Deepa Bhatia, General Manager, YouGov India, stated data shows, the rising cost of living is likely to have an unfavorable effect on discretionary spending this festive season and garments is high on the list of discretionary spends. Bhatia feels, brands and outlets should have recalibrated their price tags in response to purse strings tightening over discretionary spends.

CAIT’s stats contradicts
The Confederation of All India Traders (CAIT) has painted a somewhat different picture of Diwali 2023 compared to what the mainstream media is trending. In a statement, CAIT has confirmed retail markets across India registered a record trade of Rs 3.75 lakh crore during the entire festive season between Navratri, Durga Puja and Diwali. They also added major regional festivals like Goverdhan Pooja, Bhaiya Dooj, Chhath Pooja and Tulsi Vivah among others collectively will add another Rs 50,000 crore to the stash. CAIT Secretary General Praveen Khandelwal also says Chinese goods lost trade worth over Rs 1 lakh crore during the Diwali festive season as almost all festive-related goods sold were made in India.
The real picture however is business was mixed across sectors however, it’s the garment retail sector whose expectations were not met this festive season.

Diwali sparkle missing from garment sales as inflation affects discretionary spending

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