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THE RISE OF Indian Fashion Rental industry
The Franchising World
|August 2022
The Indian fashion rental brands are making luxury brands available at your doorstep and youngsters are basking in all its glory. This trend is only heading upwards and there is more to be experimented and explored in this space.
Indian fashion rental brands are growing faster than average global pace of fashion rental brands. This could partially be due to cost saving advantages that renting offers for designer wear along with the widespread acceptance of the circular economy. Everyone is trying to get their hands on outfits, a free space to explore without any commitment - a fabric of the circular economy that’s truly appreciated by our home audiences.
Before coming to its model, let us understand its potential in the Indian market. Currently Indian ethnic wear holds a market value of INR 1.5 lakh crore and women’s wear contributes to 81 per cent in that share (ie INR 1.21 lakh crores.). This number continues to grow significantly which implies that fashion market size is large and blooming. This market is catering to both men and women encompassing as much of the market potential as possible.
POTENTIAL IN INDIA AS COMPARED TO WESTERN NATIONS
This story is from the August 2022 edition of The Franchising World.
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