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Technology: A Handy Weapon

“There has been a conscious effort from brands, manufacturers and category leaders in developing and adopting innovative technology for sustainable and environmentally friendly options.

She added that the company is on track to close FY20 with gross sales of Rs 220 crore with EBITDA and PAT-level profitability.

With its links to the health and wellness movement, the athleisure evolution has clearly diluted the existence of non-performing sportswear segment in the country

The Evolving Market

Talking about the association with the Danish Embassy, Johnson Verghese, Managing Director, Fossil Group, India said, “Our Danish design inspired watches have seen great success in India over the last 10 years and to celebrate this success and milestone we are extremely excited to launch our collection of Skagen jewelry in India. Our understanding of the modern Indian consumer has inspired us to bring in the globally accepted ethos of modern, functional and simple design through our jewelry.”

“More and more women are working in the corporate sector and with this inclination we see more women adapting western wear in India. In today’s scenario clothing plays a very critical role, and women are experimenting more and more with their sartorial choices and coming out of their comfort zone,” says the Spokesperson for Vero Moda in India.

Manu Sharma, Business Head, Superdry India said: “Omnichannel presence is of utmost importance for Superdry. It is not just about maintaining a digital presence but also about fulfilling a need gap for people who are unable to access the brick and mortar stores or simply wish to shop from the convenience of their couch.”

“It has been noticed that there has been a significant rise in the demand of athleisure in India recently. The lines between traditional sportswear and fashion apparel are increasingly blurring. Industry estimates show that Athleisure is growing faster than the rest of the apparel categories. It is expected to witness significant growth owing to several reasons. The industry has witnessed rapid growth due to the rise in income levels and the entry of foreign players in India after liberalization as well,” avers Harkirat Singh, Managing Director, Woodland.

Adoption of technology concepts like AI, VR & AR for a more seamless retail experience have been the mainstay of Bestseller.“One of our earliest implementations of AI-powered technology has been with Vero Moda, where we employed an AI-powered tool which interprets data collected across different digital platforms and aids in the prediction of trends. The trend prediction tool has greatly helped us in deciding various product based trends like colours, patterns, styles, etc. This has helped in narrowing consumer focused trends and thus tweak our product offering to include more products that are as per consumer preferences,” says Ranjan Sharma, CIO, Bestseller India.

Kishore Biyani-led Future Lifestyle Fashions Ltd on Thursday reported a 66.21 percent decline in consolidated net profit at Rs 11.87 crore for the second quarter ended September 30, 2019.

Incorporating innovation that is both interactive and engaging has changed the dynamics of fashion retail. Today, introducing innovation in day-to-day operations is not just about enhancing business functions, it is about providing an incomparable shopping experience as well.

How would you define the future of streetwear clothing?

“More than 90 percent of the synthetic fabric used by players in India are imported from China, Hong Kong and Korea. As a solution local manufactures must focus on developing the required resources/raw materials locally and invest in organic alternatives like cotton. This will help India grow their athleisure segment in the long run,” says Nathani.

Rise in brand awareness, surge in demand for comfortable wear and better design at affordable prices and increase in female working population with high disposable income have acted as the key drivers to demand in western wear.

Western Wear: Market & Consumer Behaviour

“With the rise of causal and sportswear, product diversifi cation has been very much evident in the men’s formal wear segment. E.g., the new wave of Athleisure, which can be described as a hybrid between causal clothing and performance sportswear, this is an exciting time for menswear,” he adds.

Our brand salience is extremely strong and that makes very easy for us in terms of connecting with the consumer. We just need to remind the ardent Pepe Jeans’ enthusiasts to take advantage of this brand loyalty and come to us for innerwear too. In this regard, we have been investing in digital, outdoor, BTL and in-store activities, etc. We are trying to communicate to our consumers that a category like innerwear can also be fashionable.

India is a price-sensitive market where every consumer expects quality products at competitive prices. “Price manipulation is a strong weapon in the hands of a small, independent, unorganised players,” he says.

We’re seeing brands and platforms include ‘streetwear’ or ‘streetstyle’ in their offerings to consumers. However, most of the traction and push is from our platforms and the brands that I have mentioned earlier, along with Bollywood celebrities and rappers.

Similarly, India also became the fashion destination to another global brand, Uniqlo. The first Uniqlo store was opened at Vasant Kunj (Ambience Mall), with new stores promised in Saket (DLF Place) and Gurugram (DLF CyberHub).

Global fitness brand Reebok introduced debut Zig Kinetica model – the Zig Kinetica Concept_Type1 – the brand’s newest lifestyle sneaker built for energy amplification.

Emphasising on how brands and manufacturers in India have caught on the trend of sustainable production in the recent years, Pragati Srivastava, GM & Brand Head, Parx adds, “Indian denim manufacturing in recent times has been constantly upgrading and evolving like never before. Innovation is a key factor with the introduction of laser machines, e-fl ow and ozone machines and the industry has started focusing on eco-sustainable alternatives over hazardous chemicals. Eco-friendly trims have slowly started replacing conventional ones.”

“The men’s denim wear segment is the fastest growing segment. Men’s denim wear accounts for largest share and is poised to grow at a high CAGR of 12 percent over the next decade. Branded sector has been the biggest beneficiary of this with its presence all across and also varied offering in men’s wear,” says Jain.

Kapur shares, “The demand for western fashion accessories has grown over the last 3-5 years. Jewellery is mostly gold and silver tone based, but accessories such as scarves, caps and bags certainly off er a bigger colour range than similar products would in Germany for example.”