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Women's wear to outdo men's apparel by 2025: Report
28
Jun '17
The women's wear market will overtake men's apparel by 2025 in India, according to a recent report. The apparel market of women's wear claimed a share of Rs 1 lakh crore in the 2.6 lakh crore apparel market of India in 2015. It is growing at the rate of 11 per cent CAGR and the branded segment within women's apparel is recording a growth of 20 per cent.

The branded apparel market within women's wear is likely to grow at the rate of 20 per cent, which will lead to the segment claiming a 40 per cent share, says the Avendus report titled 'Women's Apparel Landscape in India'.

The growth of the market can be attributed to the entry of foreign labels in the India market, rising number of working women and their increasing spending power, shift to ready-to-wear shopping and ease of retail trade, notes the report.

"Impulsive buying, online and digital shopping, availability of a plethora of niche brands and the influence of social media are also changing the women's apparel landscape," said Abha Agarwal, director-investment banking, Avendus Capital in a statement.

Ease of payment, visual merchandising and seamless shopping and delivery experience will also help in the growth of the women's apparel market in the future, added Agarwal.

The report adds that 70 per cent of the women's apparel market is present in the top 10 cities. The growth will gradually shift to tier I and II cities, as the top cities become saturated.

A shift has also been observed from traditional sarees to western wear and ethnic wear which are growing at the rate of 11 per cent and 17 per cent, respectively, as per the report. (KD)

Fibre2Fashion News Desk – India


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