The kids' wear market is growing at a rate of 10% per annum, which makes it one of the fastest growing markets.
Children's apparel includes clothing for kids between ages 1 and 14 years. The market for kids' apparel in India exceeds Rs. 13000 crore, of which around Rs. 3000 crores is constituted by branded kids' wear. The kids' wear market is growing at a rate of 10% per annum, which makes it one of the fastest growing markets.
Alfia Nadeem, Category Head– Infants & Kids at FabIndia says, “Today the children are far more aware than before; they are independent about their choices of clothes that they want to wear. Even parents for that matter are ready to spend for their children. The shift is taking place on account of changes such as a rise in the disposable income of the people and the increasing influence of advertisements and media.”
According to TechSci Research report, “India Kids Apparel Market By Category, By Gender, By Season, By Point of Sale, By Organized Vs Unorganized, By Cloth Material, Competition Forecast and Opportunities, 2011 - 2021”, is forecasted to grow at a CAGR of over 12% during 2016-2021, on account of increasing spending of consumers on health and lifestyle products. Changing consumption patterns of Indian households and growing preference for ready to wear is projected to boost growth in India kids’ apparel market. The rising disposable income level of consumers, improving standards of living and the rising number of dual-income households are anticipated to increase spending on kids apparel. Parents are increasingly opting for branded kids’ apparel.
Dressing for the Occasion
Gone are the days when children were only inclined towards their cartoon characters and wanted to wear merchandised products only. Today’s children as well their parents are putting in efforts to make their child dress for the occasion, which is one of the reasons why the demands for traditional clothing and ethnic wear has witnessed a steep rise.
Alfia says, “There are global brands entering the Indian market and all have the same pattern of clothes, however at FabIndia we are fusing mixing materials, texture with tradition, which we are known for. That is what makes us different from other brands.”
Women are the Best Potential Franchisees
With 293 stores across 105 cities in India and 14 international stores, Fabindia Overseas Private Limited is India’s one of the largest retail platform for a wide range of products produced by artisans living largely in rural areas. It aims to open 13-14 “Experience Centers” in 2019.
Alfia says, “Women make the best potential franchisees when it comes to kidswear sector because as mothers they understand better which product will best suit the kids, which is why we prefer and encourage women to take up franchisees. It helps the franchise to grow when the seller comes from the experience as a buyer.”
Wish to know more about the retail industry, join the Indian Retail & eRetail Congress 2019, on 31st April and 1st May at J W Marriott Hotel, New Delhi. Click here to know more: https://www.irec.asia/