Home / Knowledge / News / Apparel/Garments / Indian fashion, lifestyle sector witnessing a surge: Myntra
Indian fashion, lifestyle sector witnessing a surge: Myntra
Mar '18
Pegged at $100 billion, Indian fashion and lifestyle industry is witnessing a surge, growing at a compound annual growth rate of 8-10 per cent offline and gradually embracing online as the channel of the future, as is evident from a projected penetration of 15-20 per cent over the next five years, from the current 4 per cent, according to research by Myntra.

Myntra shared key insights into the fabric of fashion in India based on comprehensive research at the India Fashion Forum event in Mumbai recently. Myntra is India's leading platform for fashion brands.

India has 450 million internet ever accessed population that is likely to grow by 62 per cent to 729 million by 2020. Of this, 310 million is the active internet accessing population, accessing the internet at least once a month. This number is expected to increase by 35 per cent to 419 million by 2020, a Myntra press release said citing says the study.

The number of online transactors was 200 million in 2017 and is expected to increase by 65 per cent by 2020. Of these, 60 million is the base of online fashion shoppers, which may double by 2020.

A change in consumer profile, new fashion segments, fast fashion and a market for premium brands, products and accessories was also observed. Half of consumers reside in rural areas compared to the earlier 30 per cent, women shoppers are 45 per cent as opposed to the earlier 28 per cent and vernacular online content has increased from 45 per cent to around 60 per cent.

On Myntra’s online platform, activewear is growing at twice the rate of casual and formal apparel with 60 per cent of the growth coming from tier 2+ markets. Eco-friendly and sustainable fashion styles have grown by three times in the last one year and fast fashion has witnessed a six-fold growth in the last 2 years, the study found.

The market for accessories on the platform grew four-fold in the last one year, with sportswear accessories being one of the key sub-categories contributing to this growth.

The fashion market in India is currently estimated at $70 billion, of which only 25 per cent is organized retail market. E-commerce is a key channel for fashion and the online fashion market is projected to grow 3.5 times from $4 billion to reach $14 billion by 2020, the study added. (DS)

Fibre2Fashion News Desk – India

Must ReadView All

British PM's Brexit divorce deal defeated in parliament

Textiles | On 16th Jan 2019

British PM's Brexit divorce deal defeated in parliament

British Prime Minister Theresa May's Brexit divorce deal was defeated ...

Garment industry in Laos continues to face challenges

Apparel/Garments | On 16th Jan 2019

Garment industry in Laos continues to face challenges

Apparel firms in Laos are facing several problems ranging from...

Courtesy: Indochino

Apparel/Garments | On 16th Jan 2019

Indochino to open 20 new showrooms in North America

Indochino, a leader in custom and made to measure apparel...

Interviews View All

Sunil Rathore, Lacoste India

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Top executives, Textile industry

Top executives
Textile industry

Textile institutes need to change their curriculum

Anshul Sood, Oceedee

Anshul Sood

‘Indian footwear market is nascent and largely a trend follower’

N Nithyanandan,

N Nithyanandan

Incorporated in 1999, Purani Textiless Private Limited is one of the...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Dave Rousse, INDA

Dave Rousse

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

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

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

January 2019

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

news category

Related Categories:

Advanced Search