Home / Knowledge / News / Textiles / Woolmark taps Indian luxury market via seminar
Woolmark taps Indian luxury market via seminar
12
Mar '13
The Woolmark Company, the global authority on Merino wool, organised a seminar in New Delhi on ‘Wool – Versatility and Luxury’ where industry leaders shared their knowledge and thoughts on the potential of premium and luxury wear market in India where fine wool plays a vital role.

The objective of the program was to bring eminent industry leaders on a common platform and enlighten the industry with the looming opportunity in Indian luxury market in order to find out challenges and guide them to address the same.

Indian Wool Industry is an important industry representing small, medium and large scale units. For apparel industry, wool is majorly imported from Australia for manufacturing of fine suiting fabrics, knitwear, scarves, stoles, etc. India is now the second largest importer of Australian Merino wool, known for its comfort and luxury, and is a versatile fibre of all times.

The Indian luxury and super premium apparel market is expected to grow at a 30% CAGR according to industry experts and major retailers over the forecast period, not only driven by demand amongst the growing number of aspirational consumers, but also as a result of FDI allowing further penetration by foreign luxury branded goods.

According to a report, the number of high net worth individuals in India reached 125,500 by the end of 2011. An increase in the number of top income earners will continue to spur luxury spending in India, and by 2020, India's total consumer market is set to be worth US$2.0 trillion. This impressive trajectory offers significant potential across luxury goods categories.

On this occasion Mr. Amir Sheikh, Country Manager India said “I am glad that industry leaders have come together on this platform to share their thoughts which are likely to enlighten the vision of wool industry to tap inevitable growth in premium and luxury market. We are committed to bring innovation and improve quality standard to cater to this segment”

Ms Slava Zeman, Counsellor - Australian High Commission said “it is a great pleasure to be involved in this seminar. India is a highly valued wool export market for Australia. We have seen our two-way agricultural trade grow over the years. Our trade is assisted by the close ties that are being forged between our two countries through initiatives such as the Australia-India memorandum of understanding on cooperation in the field of wool and woollen products. We look forward to continuing the valuable relationship and to future opportunities for co-operation and trade between India and Australia'

Mr. Amit Jain, Director – Shingora Textiles Limited explicitly shared his thoughts on woolen accessories potential in Indian market mentioning “we have plans to tie up with leading luxury retailers to cater to the demand of high end consumers as well. We are already retailing in high fashion European market for some time now”

Mr. Sheikh further adds, “There are challenges in the current scenario but future is full of opportunities where consumers aspiration will be fulfilled by luxury players in market”

The Woolmark Company


Must ReadView All

Courtesy: Pyrates Smart Fabrics

Textiles | On 16th Jul 2018

Spain's Pyrates Smart Fabrics targets Asia, S America

Spain-based Pyrates Smart Fabrics, whose major markets are northern...

Textile item exporters in Turkey's Denizli target China

Apparel/Garments | On 16th Jul 2018

Textile item exporters in Turkey's Denizli target China

Exporters in Turkey's Denizli, which accounts for $1.5 billion of the ...

Bangladesh to modernise 3 jute factories to boost sector

Textiles | On 16th Jul 2018

Bangladesh to modernise 3 jute factories to boost sector

The executive committee of Bangladesh’s National Economic Council...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search