The retail giants catering to womenâ€™s wear are expanding their footprints to tier-II & III cities, while international brands are foraying into India as they see a lot of potential. Here is a glimpse to the ravishing sector of women apparel and accessor
With change in social, economical and professional strata, the preferences of modern women for apparel have also undergone a sea change. Women fashion wear is now regarded the most prolific retail sector that is reviving from time- to- time.
As per estimate carried out in the latest research report ‘Indian Women Wear Market Forecast to 2015’, byRNCOS- business consultancy services, the women wear industry will grow at a CAGR of around 11% during 2013-2015. India’s textile and apparel industry has been growing significantly over the years. Thanks to rapid urbanization and increasing working class, the ‘price sensitive’ Indian consumers are now shopping more frequently. The growing fashion consciousness has turned women’s wear segment into a lucrative and highly evolving market.
Additionally, the report studies the market’s current trends in the Indian women wear industry. As per the study, it is observed that international retail giants are now entering the Indian women’s wear market that has vast potential, especially in untapped areas, such as tier- II and III cities.
W and Madame are among the pioneers in women fashion wear in India that have brought rage in the fashion industry among women since their inception. The key division of the apparel business, in India is growing fashion consciousness while turning women wear segment into a lucrative market via franchise route.
Opportunities at its best
For Akhil Jain, Creative Director, Madame: “Franchising is not just about investment in retail – it is also about development as a retailer (this is one of the most organised markets) as well. Today’s energetic youth is fast changing the rules of the game and setting up higher benchmarks. The brand offers specific options suiting the feasibility and sustainability for the young professionals.” While Anant Daga, CEO of W opines: “Franchising is a win-win model for both franchisor and franchisee. As it reduces capital requirements for the brand and enhances operational ease. However, for the franchisees, it ensures organisational support and proven business model to begin with.”
Apart from these BIBA, G, FabIndia, Kimaya, Kazari, Chhabra 555, Meena Bazaar, Bawree, Me n Moms, Mom & Me, Destination Maternity, Mother Care, Saasya, Karmik, Greenways, Pari’s, Diva’ni and many more are the key players in the women retail industry that are extensively looking to strengthen their network pan India.
The Indian women ethnic wear industry has taken great strides over the past few years, and today, many of the world's leading fashion labels are sourcing their products from India.
However, to give challenge to the big players in the fraternity, new entrants are also making their influx with more stylish and ethnic range of women wear that can also help in seeking high benefits via the franchise route.
Vinegar, GeetsFashion, Diva Lifestyle Pvt Ltd., Simplysizzl are some of the newl brands that are promising great returns to their investors.
According to Research and Market, an international market research store, the growing fashion consciousness, and influence of media and western culture have turned women’s western wear segment into a lucrative and highly evolving market. In India, the apparel industry is highly fragmented and competitive. Due to rapid urbanization and higher disposable incomes, the ‘price sensitive’ Indian consumers are now more brand-conscious. As per the estimate, carried out in our latest research report, the women’s western wear market will surge at a CAGR of around 10% during 2012-2015.
Vinegar, a Spanish apparel and accessories brand known for its quirky take on fashion and style, has opened its first franchise store in Hyderabad. The brand already has stores in Mumbai and international presence in Europe, Israel, Spain, Portugal, Finland and Russia via Shop in shop format and EBO’s. The 2000 sq. ft Vinegar store offers a wide range of uber-chic western clothes and accessories.
Varsha Bhawnani, MD, Vinegar, says: “Hyderabad has emerged as the most promising city in recent times – from luxury brands to high street, all major brands have opened gates in the city to establish the fact that the city has potential for being one of the greatest retail destinations.”
Another brand, Simplysizzl boasts of being a one-stop-shop where society’s fashionable ladies come to for designer -wear by leading and upcoming hip designers, all in one place. The chain is looking for aggressive expansion via franchise route seeking franchisees passionate for fashion; those are backed with strong entrepreneurial acumen and have the key ingredients for success i.e drive, dynamism, tenacity, obsessiveness. Prime location, an up market with high footfall would be apt for the brand’s roll out.
Boulevard to expansion
Informing about how their brand is shaping up in the Indian market, Daga says: “We have seen encouraging response to our new categories. Our lines of fashion coordinates and jewellery are doing very well. Our maternity collection too has hit the right chord with the customers with a conversion rate of over 70 per cent. These are businesses that could definitely build up to a sizeable proportion of our store sales.”
Vinegar entered the Indian market in the year 2012. The brand originated from the streets of Barcelona, Spain and is an acclamation of its colour, people, spirit and its sun. Vinegar soon plans to strengthen its presence in India via franchise route and seeks to open stores in Delhi, Chandigarh and later in the tier II cities. By 2014 it aims to have presence in countries like US and Australia also.
While shedding light on the outlook of the market for women fashion wear products, Jain asserts: “We prefer both youth and veterans to get associated with us as franchisees as the youth backed with suitable professional education in retail/ sales is always an enthusiastic entrepreneur while stability is still with the veterans. Our 40 per cent franchisees are in the age bracket of 24-37 and to acquire franchise of brand, an investment of Rs 20 lakh is required along with the area of 700 to 1,200 sq.ft at high streets and shopping malls.”