Unveiling first ever fashion and lifestyle franchise Report on November 26,2009 at Franchise India 2009
The “India-Fashion & Lifestyle Franchise Report 2009” was unveiled at Franchise India 2009 in presence of the industry stalwarts and prominent media personalities. The Report was unveiled by Mr P.N. Dhoot, President, Videocon Industries who also stressed on how modern retailing in India is evolving and how franchising is playing a crucial rule in facilitating brands to expand their footprint at the occasion .He also mentioned that this report will give a accurate outlook to the Indian fashion retail industry to develop their Business growth plans in the year 2010.
According to the India Fashion and Lifestyle Franchise Report 2009-10,"With anticipated $30 billion fresh investment over the next five years, modern retail will show impressive compound annual growth rate of 40 percent," "With this growth rate, the market is expected to reach $535 billion by 2013,"
"The growth of organised retail will be driven by the franchise model in future," said Franchise India -president Gaurav Marya while releasing the report at the two-day Franchise India 2009 event. "In fact, that is the reason that many big companies going into retail mode are adopting it," Marya said, adding that he expected business deals worth Rs.150 crore would be struck at the summit.
There are 1,200 active franchise concepts and over 110,000 franchisees in India, it added, and identified apparel retail, education and food leading the pack. India's franchise segment is growing at 38 percent annually with the market size currently valued at $7.2 billion, expected to reach $20 billion by 2013 as per the report.
To read the Executive summary of the report click here