Another year, another resolve forged with wisdom, accumulated experience and clearer vision. This is 2023. We have seen the worst, we have overcome obstacles from the most daunting to the phase blessed with  flickers of hope and then to the realization of fruits of hard labour.
2022 was a year of caution and also of growth. India’s textile and apparel exports were $ 43 billion in 2021-22 and have grown at 3.7% CAGR since 2010-11.The exports are further estimated to grow at 9% CAGR from 2021 and reach 60 billion by 2025-26, says a report by FICCI and Wazir Advisors. And according to Retailers Association of India, in March 2022, apparel sales grew by 26% compared to what they were during the same period last year, while overall retail sales grew by 28% in the same period.
But 2023 has inherited a mixture of political uncertainty and bullish inflation. The takeaway from the conflict is that we are going to witness a further polarized world in which global trading in dollars will be reduced and readjust to globalization. However, the world, irrespective of who emerges stronger, will contribute to trade as it has always been.

As we gear up for the 22nd edition of India Fashion Forum (IFF) in Bengaluru, I am reminded of how we have risen as phoenixes and the strength on which we have built this industry with grit and will continue to do so. The long and dark spell of the pandemic is already behind us. However, the devastation it brought has taught us a hard lesson and helped us prepare for any harsh reality that could catch usby surprise.

It’s been a year since the previous IFF, and a few years since we had last crawled out of prolonged isolation. With the past clear in mind, the present more consolidated, and the future ever more hopeful, we look forward to another exciting innings.

I firmly believe that the 22nd edition of IFF will be a much bigger convergence of the industry fraternity. Chaired by industry leader Shailesh Chaturvedi, the forum will witness the presence of the industry’s movers and shakers, who will expound their views on some of the industry’s pressing issues. I look forward to meeting you.

With a total export of $44.4 billion in FY22 and more start-ups disrupting the value chain, India today is the second largest textile and clothing exporter. It is set to become a global market leader. Given the importance attached, it is believed this can be achieved. The increased budgetary allocation this year shows the significance the government attaches. For the year 2023-24, the total grant for textiles is fixed at Rs 4,389.34 crores which is about 22.6% higher than the revised budget grant for 2022-23. Incidentally, the ongoing China-US bilateral conflicts and buyers reducing dependency on China present opportunities for manufacturing nations such as India, Bangladesh, and Vietnam.

Shailesh Chaturvedi, MD and CEO, Arvind Fashions, and chairman of the 22nd India Fashion Forum (IFF) believes that India’s highly fragmented fashion industry with very few 1000 Cr+ brands indicates a massive opportunity to build brands at scale. However, he cautions that it should not come at the expense of profitability.

From ethnic wear to footwear, the growth of the Indian fashion industry is spectacular. It’s believed that the industry will touch $106 billion by 2026. When brands, from Uniqlo to Hidesign, keep adding more stores, manifesting the state of the industry, the number doesn’t seem far-fetched.

Amidst these developments, often our usual fixation is on how businesses are performing and the attempts to gauge their cumulative growth. Seldom does it occur to us, let’s say in an interview, that we should ask the main person or the mind behind the business questions ranging from personal aspiration to the journey accomplished so far interspersed with words of wisdom. It’s crucial, given that the much-discussed positive growth numbers are possible only when the strategic plans are executed under strong and wise leadership. The combination of the right strategies and the leading will to execute them.

In this issue, 50 Fashion Brand Icons, People Shaping the Fashion Landscape, we have attempted to present these minds and to bring out the strengths and insights that have helped them shape brands, sustain their values as well as growth. Like Steve Jobs’ vision and skills helping build Apple and turning it into a trillion-dollar brand. The objective is to present to our readers these minds or leaders with insights and wise words, to mention some, which they have accumulated over the years.

The fashion industry has undergone many a change over the past couple of years. Whether influenced by the pandemic or driven by the growing propensity among Indians to spend, fashion is forever being turned on its head. The latest to be at the centre of this ever-evolving segment is innerwear. Once overlooked as a mere commodity, innerwear is now viewed as a fashion statement. Whether working out at the gym or playing in a sport, attending a wedding or simply dining out with friends, more and more consumers are opting for innerwear that they feel serves the purpose. Hygiene conscious and always looking to be comfortable in what they wear, consumers today are driving the need for innovation in design, fabric and technology in innerwear.

This burgeoning demand has also led to the birth of several domestic innerwear brands that are slowly transforming this once-unorganised sector into a more organised one. A report by Technopak Advisors suggests that the Indian innerwear market, once valued at `19,950 crore, is estimated to grow at 13 per cent to reach `68,270 crore by 2024. Men’s innerwear market, in particular, is expected to grow at a CAGR of 7% over the next few years to reach `218 billion by 2028. Innerwear, thus, is turning out to be a lucrative investment; maybe even an apt candidate for virtual try-ons in the metaverse.

The ‘Make in India’ and ‘Startup India’ movements of the government have been an inspiration to many in the fashion sector, from textile and fabric manufacturers to entrepreneurs serving both the domestic and international markets. One of the biggest engines of growth in the country today, ‘Make in India’ has resonated particularly well with home-grown denim brands. The Indian denim market, in recent times, has witnessed massive penetration and amassed huge denim-loving crowds who now have the chance to own a comfortable, a􀇹 ordable and well-􀈃 tted pair of jeans without having to run pillar to post only to end up buying an expensive piece of clothing. In fact, one study suggests that the Indian denim jeans market is growing faster than its  global growth rate. Various market studies also indicate that theIndian domestic market for denim has consistently maintained an average CAGR of 8-9% over a few years and is expected to reach $12.27 billion by 2028.

Coco Chanel once said, ‘Fashion comes and goes, but style lasts forever’ – an aphorism that reminds us of the shift that some segments of fashion have recently witnessed, formal wear being on the top of that list. Hardly has a change been more drastic than the one that formal wear has endured. From being one of the most sought-after categories in fashion to being on the tail-end of that very sector, it has been delivered a grievous blow. As the world went into frenzy over pandemic-induced lockdowns and people began working from home, formal wear was a segment customers were not willing to invest in anymore due to its sudden lack of purpose and utility. 

The summer season is here in full swing and has brought with it the hope of a fruitful period for the business of fashion retail in the country. In this issue we have thus laid focus on the casual wear market in India, a segment that has seen massive surge owing to factors such as increased spending power among consumers coupled with their desire to look good and dress well, a marked increase in the penetration of both international and domestic fashion brands in the market that has left the customer spoilt for choice, and the growth of e-commerce that has made fashion more accessible to the consumer.

And as this multitude of fashion brands aims for the discerning, perceptive customer’s attention, it strives to give to him the convenience of an omnichannel model that allows him to search for apparel, shop for it and maybe later return it if the purchase is unsatisfactory, as is convenient to him. But, in vying for their attention and with the tools of marketing available at their disposal, fashion brands must actually look to create differentiation for both the brand and the product, not merely what it portrays itself to be.

In the offlline space, too, fashion brands are looking at new ways to increase revenues. One practice that they see a bright future for is the collaboration between retailers and mall developers that has its own benefits. Many an expert believes that the coming together of the two to enhance the customer’s offline shopping experience has opened several doors for both. As always, I hope you find this issue insightful and beneficial.

April was special for us. It marked the return of India Fashion Forum (IFF) after a two-year hiatus as a result of the COVID-19 pandemic. In its 21st edition, IFF got the who’s who of the industry together to map out the future of fashion business in India which is being shaped and re-shaped as I write this. Disruptions to business have been plentiful. The future is certainly uncertain, and if the past two years have taught us anything, it’s that we must prepare for the worst and even when that does not work out, keep our options open and minds agile.

It is clear that to serve and inspire the new-age shoppers, retailers and brands need to re-think their conventional business models. Convenience is the name of the game, a feat that can be best achieved by getting the technology right. But, in creating a digital space that is more responsive to the consumer’s demands, retailers and brands must not forget that brick & mortar stores will not lose ground. Hence, while the online channels cater to the new-age consumer, the offline channels, too, have to be seamlessly integrated into the very design of a comprehensive business model.

Sustainability – a term used often, but rather sloppily! The concept of sustainability in the context of fashion and the business of fashion essentially has more connotations than one. From the ethical sourcing of raw materials for production to production itself, from the supply of the product to the end user to the subsequent upcycling of the product at the end of its lifecycle and in all that, ensuring that those involved in the production process and whose craft is being employed are uplifted and provided for make sustainability a multi-faceted concept with no end to creativity and innovation. Thus, it becomes imperative for the brands of today and tomorrow to understand, in depth, the meaning of sustainable fashion and how best to be a part of the movement to make planet Earth a better place to live in.

With customers vying to shop from brands that understand the need to go green, companies must get creative not only in manufacturing and logistics but also in how they market their ‘green’ ideology to potential consumers. Today, technology is ruling the roost in the world of fashion and changing the retail landscape as we speak. Estimated to be worth more than US$3 trillion by the end of the decade, according to CB Insights’ Industry Analyst Consensus, the fashion sector is also one of the largest industries in the world with technology one of its biggest driving forces. From the metaverse to Non-fungible Tokens (NFTs), technology has turned the fashion industry on its head! Though the penetration of this high-tech digital universe is still at a nascent stage, it will be extremely exciting to see how willing brands are to adapt to it and how shoppers consume it.

Thus, at India Fashion Forum this year, we hope to learn from industry leaders, veterans and experts where the fashion sector is headed and the latest disruptions brands need to look out for.

‘The question isn’t who is going to let me; it’s who is going to stop me’ are the famous words of writer and philosopher Ayn Rand. The timelessness of this expression captivates the mind even today and forms the very essence of women leading industry and economy in India and across the world. Our issue this month thus pays a befitting ode to women entrepreneurs in the fashion world who have taken risks and fought many a battle to reach where they are today – successfully running companies and setting benchmarks for other aspiring women, and men, to follow.

Through our conversations with them, we take you through their journey in the Indian fashion sector, right from the beginning to where they stand today. These entrepreneurs and leaders share their experiences, stories and anecdotes with us, giving us a glimpse into the business of fashion and the women leading it. And amid all that glitz, we also bring to light the latest trends in the Indian women’s wear market, and the innovations that the changing season will bring with it.

With the new year comes new hope of a better time for the fashion retail business. And though the relentless coronavirus has made headlines once again, people are better equipped this year to deal with the menace and most have already reinforced their business plans to deal with the possible impact.

This year we, too, continue with the tradition of bringing out our special Brands in India issue – an opportunity for retailers to highlight their offerings to the fashion world. We do hope that we are able to bring businesses together to collaborate on new fronts and develop partnerships that make their business grow.

Year 2022 may also be a significant marker in the world of fashion technology and innovation. From omnichannel pursuits of brands to the metaverse of fashion, there’s much in store for the fashion retail sector in the country. E-commerce is also set to gain a greater market share as more and more people get more comfortable with shopping online and companies strive to ensure that their experience is as seamless as it is pleasant.

Our January issue also brings to the fore 10 trends in retail and e-commerce – some that have already set in and some that could make inroads this year – reshaping the retail world as we know it today. With this, we hope companies and brands are able to take a sneak peek into what’s shaping the retail sector across the world, and be well-prepared to adapt to the dynamic environment and take on new challenges.
As always, we hope you find this issue informative. We wish you all a happy new year!

The curtains may be closing on year 2021, but it has given us much to learn from and implement. The one-of-a-kind mix of challenges and opportunities that the year presented have made fashion businesses re-look at operations, making them more cost-efficient, and helped in eliminating wastage of both time and manpower. Powered by technology, India’s fashion industry is raring to enter the next year more experienced and better equipped to handle adversities.

In this issue, we get you a mix of invigorating discussions among industry experts on what matters in today’s world of fashion. Each of these deliberations, hosted at the Phygital Retail Convention in Mumbai earlier, bring out key insights on the industry. The knowledgesharing sessions delve on subjects such as the realignment of retail business in light of the COVID-19 pandemic and how agility & technology will rule the roost in times to come. These experts also help us understand the power of pleasing the customer in the postpandemic world, where fulfilment of orders will be a key differentiator.

Winter is here, and so is the season when brands get their warmest, trendiest products out, coupled with equally attractive fashion accessories – scarves, muffl ers and gloves. ‘The more, the merrier’ is the mantra this season and brands are ensuring that consumers are spoilt for choice when it comes to fabrics, textiles and patterns!

Our winter wear issue this year looks deep into the season’s fashion market that has come out of a rough year for business. With lockdowns everywhere and people forced to stay at home, winter wear was hardly something the Indian consumer was keen on investing in last year. But, as has been true for other seasonal fashionthis year, winter wear, too, is seeing a surge in demand primarily driven by people stepping out of their homes to go to work or enjoying their workcations. Demand is also being driven by the need to evolve their style quotient this year, infl uenced by social media and rising spending power. As consumers look to fashion comfortable silhouettes and oversized jackets, we look to decode further the marketing trends this season that brands are resorting to and how they are setting their pricing strategies to make products aff ordable and business profi table.

The Indian festive season, one of the longest in the world, has breathed new life into the Indian fashion retail and e-commerce segments. While last year the festivities were sombre as people grappled with the impact of COVID-19 on lives and livelihoods, this year there is more than a mere glimmer of hope in the atmosphere. People are eager to shop and have even upped their festive budgets even though gatherings are expected to be small, intimate affairs. Clothing and accessories are forecast to be the top-selling categories in this quarter.

Riding on the back of this zeal are fashion brands that are anxious to please the customer with new occasion-wear collections and strike the right chord though digitised marketing. This festive season, brands hope to have riveting conversations with visitors through social media. With reports predicting customers leaning towards online shopping, they are all geared up to get their message across and off er the customer a seamless shopping experience. Supply and distribution strategies have also been revamped for the customer’s ease and convenience. A smooth distribution network is being complemented by well-stocked warehouses and any unforeseen shortfall in either the online or offline availability of products is equipped to be met with surplus from the other.

As the retail industry is slowly moving towards recovery, after the debacle caused by the second wave of the pandemic, retailers are once again pinning their hopes on the festive season. Undoubtedly, there has been a strong response in the stores and many brands (including apparel)are witnessing good sales in the last few months. Despite this, there is double excitement for the festive season, which is a very good news for the retail industry.

The year 2020, festive season accelerated sales and therefore, retailers have high hopes of reaching double growth in this season. Ethnic wear has always been a forefront in the festive wear section and ethnic brands will once again be in demand. The increasing consumer demand of the Indian wear segment can be estimated with the increasing scale of brands like Manyavar, Soch, W, Fabindia etc. These brands focus on making the shopping experience easy and are coming up with ideas like fusion wear, which is both Indian and easy to carry.

Online presence of big ethnic wear brands and acceptance of ethnic wear among youth have also given rise to this sector. Men’s and women’s ethnic wear together contribute around 90 percent to the sector. The increasing acceptability of people towards Indian wear has given rise to the segment.

Innerwear as a fashion category has certainly come of age in India. And it is now marketed, innovated upon and retailed like any outerwear fashion category — with product differentiation, digital science, marketing differentiation quite strongly at play.

Innerwear as an informed, conscious fashion choice owes much to digital evolution and rapidly growing customer awareness, for sure.
No longer hesitant in expressing their opinions on a category that forms an essential part of their wardrobe, women — and men — are seeking to discover, explore and experiment with intimates as well. Innerwear, finally, is out of the closet and is taking giant strides to becoming an exclusive fashion category in India.

The evolution is apparent in both the market and the consumer. While the consumer righteously considers innerwear as a fashion statement today, the market too has emancipated itself from its unorganised retail hegemony. The innerwear industry is now amongst the most lucrative segments in apparel fashion for brands, retailers and investors alike. The rapid transformation of the category has led it to branch out into several sub-categories, with each of them setting standards on their own now. Also, a slew of international, young and dynamic national brands has impinged on the arena, ushering in a phenomenal trend that has compelled the entire industry to spruce up offerings both in terms of products as well as experiences.

Dear All,
Denim has been through several demand peaks and troughs over the decades. While temporary trends may have displaced it now and then asa defining fashion category, Denim, however, looks set to be a timeless wardrobe essential worldwide. Denim as a category in itself is a legend.

The Indian denim market is exhibiting continuous growth over the years. With new technologies, trends and higher market reach, this sector has promising growth potential. Even in rural areas, denim is becoming highly fashionable with most men and teenage girls opting denim wear over traditional outfits.

The July 2021 issue of IMAGES Business of Fashion dives into the fascinating workings of a fashion classic, and explores its newest adaptations and innovations as brands work toexpand their consumer bases, while wowing their primary target — Millennials and Gen Zs.

The edition will throw more light on how brands and retailers are managing massive demand disruptions especially after the lockdown. The sudden and frequent lockdowns have been a massive challenge for the retailers. Product innovation, along with creating more efficient business operations, supply chain and cost optimisation, omnichannel strategies have been the key tasks for the industry currently.

Urban lifestyles over the past year have been through tumultuous changes, reflecting clearly in wardrobe choices and demand shifts. Some leather-led footwear and accessories brands and retailers have been quick to pivot to the new realities with product innovation, Omnicommerce channels and enhanced digital outreach. Simultaneously, there is a growing evolution of non-leather materials in new-age footwear and accessories.
The June 2021 issue of IMAGES Business of Fashion dives into the fascinating workings of India’s footwear & accessories sectors as it navigates extreme business challenges brought on by COVID 19 and the resulting consumer shifts.
The edition will throw more light on how brands and retailers are managing massive demand disruptions especially in the COVID times.
The sudden and frequent lockdowns have been a massive challenge for the retailers (be it big players or the small regional brands). The product innovation, along with creating more efficient business in operations, supply chain and cost optimisation, Omnichannel strategies has been the key tasks for the industry currently.

Dear All,

Sustainable consumer habits have gained tremendous signifi cance over recent years. The primary driving forces include the realisation of environmentally damaging practices, and a strong desire to make eco-friendly choices. Consumer behavior is changing due to rising evidence of climate change, with research showing that globally 88 percent consumersprefer sustainable clothing.

Recently, 16 retail fashion brands signed the Su.Re (sustainability resolution) project launched by the Union Textile Ministry, IMG Reliance and Clothing Manufacturers Association of India (CMAI). Brands and retailers like Spykar, Westside, Trends, Shoppers Stop, fb b, House of Anita Dongre, Lifestyle and Max have joined the movement that aims to develop sustainable sourcing policies for consistent prioritising and utilising certifi ed raw materials that have a positive impact on the environment.
Further, Millennials and Gen Z consumers have taken the sustainable fashion movement forward by being ecologically conscious.

The new generation looks for fashion that is sustainable, fair and circular without limiting the preference to latest trends. Sustainable and responsible consumers are encouraging brands to demonstrate transparency and sustainability in their supply chains. With customers becoming more conscious of the impact of the brands they buy on the planet, brands are expediting their attempts to appeal to this ever-growing and evolving direction. To improve the sustainability quotient in the business of fashion, it is therefore important to understand key parameters across the textilevalue chain, analyse consumer insights, and view innovative models that build sustainable businesses.

Dear All,

With mini lockdowns and shutdowns making a comeback in India, consumer movement will yet again be limited. As a result, demand for comfortable yet stylish apparel that can be worn in the comfort of homes is expected to rise again rapidly, leading to sportswear and athleisure gaining ground even more post the lockdown. With more and more consumers giving the first priority to their health, this segment is making its place in each and every wardrobe. Instead of stocking up casual and formal wear, consumers are responding by stocking up on yoga pants, joggers, hoodies and sneakers in large numbers.

Going by the change in consumer behavior, today s/he is thinking about fi tness and is ready to spend money on training merchandise. Giving priority to comfort, everyone wants to look stylish, even if they are jogging in the morning, which is why the sportswear industry has made huge progress in the last few years. New brands have come up and gone are the days when consumers used to have just one outfit for outdoor physical activities.

Dear All,
As work and home spaces overlap, comfort and versatility have taken precedence for all, leading to new the invention of new offerings from brands and retailers – apparel that can easily transition from work from home to grocery-runs and social-media appearances.
With a major part of the world still restricted to their homes, fashion senses have started gravitating towards comfortable yet presentable clothes. Due to this, the demand for casual wearhas skyrocketed globally post the lockdown.

The work from home model has impacted workwear wardrobe choices greatly. With most corporate offices relaxing the formal wear rule, comfortable power dressing is key in the new normal. Office goers working from the confines of their home have gravitated tosmart casuals. The shift has been instinctive and the casualwear category, which is fulfilling the requirements of the trend, is in great demand. It has captured the market in a way it never has before. The fashion industry has taken note of this new cultural shift and brands are aggressively marketing their casualwear category.

The March 2021 issue of IMAGES Business of Fashion highlights the change in dynamics of this category as heralded by the Coronavirus pandemic. The issue takes a look at how brands areshifting stance to face the burgeoning demand for casualwear, the challenges and the opportunities offered.

Dear everyone,

2021 is already showing glimmers of hope. As the rate of new infections registers a sharp dip over the last few months, the Indian economy has begun to show signs of recovery. With the nationwide vaccine roll out in place, consumer confidence and demand is set to grow at a rapid pace in the months to come.

The recovery is set to further get a boost from the progressive and growth-oriented Union Budget 2021-22 announced by the Government of India. The Budget has especially been beneficial for the textile industry. It has laid a strong foundation for the future growth of the textiles and clothing industry in India. In line with the Centre’s efforts to position India as a fully integrated, globally competitive manufacturing and exporting hub for the textile sector, the Government has proposed a slew of schemes that are expected to attract investments and boost employment generation.

In this issue, we take a deep look at how the Budget of 2021 is expected to make India a competitive manufacturing and exporting hub for textiles. Industry experts from across the sector share their views on the opportunities that the Budget presents to all players of this sector to fuel post-pandemic recovery.

Moreover, this issue also takes a look at how fashion senses are rapidly gravitating towards comfortable apparel as homes have become hubs of work, play, and rest. Over the last few months categories like casual wear, loungewear, athleisure, nightwear, etc., have become fashion essentials. Also, the ‘Work From Home’ – and ‘Study From Home’ – cultures have also compelled consumers to thoughtfully curate a home environment that’s comfortable to work and study in, adding to a renewed demand in categories like home office furniture and home décor.

I wish you all a very happy New Year!

2020 has been a very unusual year. Throughout the year, we all had been counting down the days to 2021 – hoping for a new year with new possibilities where the problems of 2020 will just fade away. It’s finally here and we can already see signs of recovery. Let’s all welcome 2021 with the hope that it turns out to be a defining year in fashion retailing. I also wish that this year turns out to be prosperous for all of you and your businesses.

I would also take this opportunity to express my gratitude to all of you for supporting us and our cause even through the uncertainties that 2020 posed and I hope for your continued backing in the future as well.

Also, per tradition, we are pleased to start the new year with the annual Brands in India Special Issue of IMAGES Business of Fashion. As always, we have concentrated all our efforts in bringing before you some of the biggest stalwarts of the fashion industry in India — both homegrown and from across the world, as well as a few young and rising stars.

Dear everyone,
I think it is finally safe to say that fashion retail is gradually returning to normalcy after months of sharp contraction in Q1 FY2020-21. All this while, we all have been pinning our hopes on the festive season. As it turns out, the results so far have been quite encouraging. Leading e-tailers have received an overwhelming response during the annual festive sale days, and traditional traders across the country have witnessed sales figures going up by the week. The wedding season and the upcoming holiday season is expected to further provide a fillip to the fashion retail segment, thereby setting the segment firmly on the path to recovery.

Although demand and sales are picking up, one thing that we can unanimously agree is that we are still amidst cautious times and that business is not as it used to be. Honestly, I think it is very natural. The pandemic has had a far reaching impact on the consumer and business as a whole, and rebounding from the COVID-19 induced depression and re-calibrating operations back into normalcy could prove to be very challenging.

Dear everyone,
First of all let me wish you all a very happy Diwali! I hope that the upcoming year proves to be progressive and prosperous for your family as well as your business. Let’s also hope that this festive season also marks the change that we all have been waiting for for so long.

After a lull of nearly eight months, finally we can afford to heave a sigh of relief as things are slowly begging to get better for all of us in the retail industry. At the same time, I am sure that we all have also witnessed how drastically the traditional format of retail has been overhauled in the last few months.

Although the worst seems to be over, we are still in uncharted territory and businesses will need to be much more careful about how they approach the future. As is apparent, consumer sentiments have changed in massive proportions. Moreover, while we are still struggling to reorganize how we run operationsin this age of social distancing, consumers’ expectation is snowballing by the day.
The big question now is — how can businesses remain productive, be safe for employees as well as consumers and at the same time device innovative engagement strategies that find relevance in the new normal?

Dear everyone,

It’s been a long long wait for us all, but the festive season is fi nally here. After months of the COVID-19 induced slump, the festive season presents us with at least some ray of hope. Although consumer sentiments continue to be cautious, fashion retailers around the country have strong reasons to be optimistic that the upcoming festive season will bring about a demand rebound, helping revive salesand footfalls.

Festival demand has always been robust in India and despite the fact that things are a bit different this year, this is one opportunity that no brand or retailer could afford to miss. In line with this, fashion businesses around the country are gearing up for the upcoming festive season. Ecommerce major Filpkart has has added over 3.4 million square feet space across its supply chain assets including fulfilment centres, mother hubs and delivery centres throughout the country in preparationof the upcoming festive season and the Big Billion Days sale event. Myntra, on the other hand, has received a fresh fund infusion of US$ 103 million from FK Myntra Holdings, its Singapore-based parent entity.

Dear all,
Although it’s been months since businesses have resumed and things are starting to pick up momentum, our industry is still going through a tricky time. But what’s surprising is that, even amidst dwindling sales, fashion retailers across the world have registered an uptick in sales of certain categories — comfortwear like leggings, loungewear and athleisure have emerged as best-performing productsduring the pandemic.
The growing penchant for comfort wear is not a new phenomenon by any means. We are all aware how modern consumers are more concerned with comfort and practicality than style and trends now. According to the fi ndings of the market research company Global Data,the revenue of athleisure worldwide has increased by US$ 34 billion in only one year, from 2018 to 2019.

Over the past few months we have witnessed how the COVID-19 pandemic has escalated online shopping usage throughout the world. With brick-and-mortar retailers forced to shutter stores, a distinct opportunity was born for e-commerce businesses to take over.
Even in India, it has led to a rise in the number of fi rst-time e-commerce users, who had been so far uncomfortable with shopping online. Even now, when stores have re-opened, online retailers and e-commerce platforms continue to experience drastic growth as consumers try to avoid shopping malls with increasing anxiety over the virus.

Today, a strong online presence has evolved to become the prime necessity for all players of the retail ecosystem. In the initial days of the lockdown, we have seen how an increasing no of brands, which were not following an Omnichannel route earlier were making a beeline for establishing their online platforms. Even the most prosperous of brick-and-mortar stores have been forced to experiment with digital channels in wake of the crisis.

It has been about a month since stores have opened doors to consumers but market sentiments continue to be gloomy. The consumer is still struggling to cope with the pandemic triggered stupor and this has made retailing extremely challenging. An overwhelming percentage of consumers have cut down on fashion expenditure and a majority of the remainder now prefers to shop online. Over the month, we have witnessed how consumer expectations are continually escalating. Consumers today are focusing on “safer” modes of product evaluation and consumption, and preferring businesses who prioritize hygiene and buyer convenience. Thus, stores that have opened up are faced with the conundrum of coming up with measures that allay their fears about safety and hygiene. At the same time, fashion businesses are forced to review their core markets and operating model as well as device innovative engagement strategies that find relevance in the new normal – something that a majority of brands and retailers are struggling to keep up with.

March 2023

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December 2021

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September 2021

IMAGES Business of Fashion is a monthly resource for fashion retailers, brand owners and industry leaders in India. It delivers fashion business intelligence on emerging retailers, disruptive technologies and domestic and global brands that are making their mark in the industry at a time of unprecedented change.

With a 24 year old loyal reader base of over 60,000 top decision makers, fashion retailers and fashion buyers, spread across all sectors of the business of fashion in India, IMAGES BoF has constantly proven itself as easily the most focused and best targeted fashion business media in India.

Launched in 1992, the monthly magazine is an informed, analytical publication on the fashion business in the country. It has played the role of a catalyst in the retail evolution in India focused on and driven by branding, marketing and retailing of fashion in the country. It enables continuous information exchanges through its activities - facilitating networking among investors, retailers and brand leaders. The publication is amongst the country’s top recall business magazines in India and its reach extends to 2,00,000 of India's top decision makers in retail and retail support business.

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Business Of Fashion - January 2023

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