Business Of Fashion - April 2021
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April 2021 issue Digital Access. - Magazine Details
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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.
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Why Men Ditching Unisex Range!
India’s men’s grooming market is expected to grow with a CAGR of more than 11% during the forecast period with more than ₹31,000 crore market size. While a bulk of this is being driven by D2C online sales, there has been significant traction in offline sales too.
Impacts Of Farm-Closet: A Collective Responsibility
The fashion industry produces about 53 million tonnes of fibre every year, 70 percent of which ends up in garbage dumps or is incinerated, adversely affecting the environment. This reality demands that we look hard at the impacts of farm-closet.
The growing lure for kids’ fashion
From being an entity solely reserved for adults, fashion in kids’ wear has come a long way where it has seamlessly permeated into the kids’ wear segment as well. Nowadays, there is a rising propensity for fashion in the sector.
CLOVIA: Capturing consumers' imagination
Clovia made headlines when Reliance Retail Venture, an arm of Reliance Industries, acquired 89% in the Purple Panda Fashion-owned intimate brand. The oil-to-retail conglomerate made the investment in the form of secondary share purchase and primary capital infusion.
Handcrafted Success - Dilip Kapur Founder, Hidesign
In the era of fast fashion, Puducherry-based leather goods brand Hidesign claims that it still works towards handcrafting goods. Founded by Dilip Kapur, the brand says it relies on the process of vegetable tanning, uses solar-powered energy, recycles water at its tanneries, and focuses on hiring employees from religious minorities and the LGBTQ community. In an interview with Images Business of Fashion’s Sanya Arora, Kapur discusses the company’s expansion plan, business model, product collection and more.
Fashion Accountability
The fashion industry is the second largest polluter, and the calls for the industry to do more to mitigate its adverse impacts have always been louder.
2022 The Year of Caution & Recovery
After experiencing 18 months from early 2021 through mid-2022 of growth, the fashion industry faced a challenging time again. Persistent inflation and depressed customer sentiments frustrated the growth pace in the year's second half. Inflation remained at the top of the year; it undercut consumer demand, pushing shoppers to curtail fashion spending.
Textile & Apparel Overview
The global apparel consumption in 2021 is estimated to be around $1.5 trillion. India's textile and apparel market has the potential to swell to $250 billion by 2025-26, up from an estimated size of $ 153 billion in 2021, says a report by Federation of Indian Chambers of Commerce & Industry and retail consultancy Wazir Advisors.
BAGATT: Not just a shoe, but a statement - Sandip Kanti Baksi, Astor Muller India's COO - Retail
Astor Mueller, one of the Europe's leading shoemaking companies, entered the Indian market with bugatti. Today, it has a strong retail footprint in India. The shoemaker, which also holds the exclusive license for Daniel Hechter shoes, has recently launched another brand, BAGATT with eye on women. Images Business of Fashion's N Bobo Meitei interacted with Sandip Kanti Baksi, AstorMuller India's COO Retail, to understand what this means for the shoemaker, and many more.
‘HUMAN TOUCHPOINT IS EXTREMELY IMPORTANT FOR US’ - Tomohiko Sei CEO, Uniqlo India
In 2018, Uniqlo sent Tomohiko Sei to India to spearhead its entry into the country that Retailing Co. ranks as the biggest future market for the Japanese brand. Prior to his India assignment, Sei was the chief operating officer for Fast Retailing in Singapore. Sei spoke to Rasul Bailay, group managing editor of IMAGES Group about Uniqlo's journey so far - its rollercoaster ride due to Covid-19 and about India as a potential market for Asia's largest fashion brand. Edited excerpts:
