India’s apparel market is on the track of change. Quick growth and increasing urbanization generated a new class of consumers having more money to spend, and a budding craze forfashion. India’s fast growing retail clothing
market conferred remarkable growth opportunities for global and local players. The domestic apparel industry comprised of five segments menswear, womenswear, Kidswear. In 2011, the Indian apparel industry was reported worth Rs. 1,876 billion (Bn) and was expected to grow at a Compound Annual Growth Rate (CAGR) of 8.7 per cent till 2016. Indian apparel industry was depicted to be highly erratic in nature. Due to the low entry barriers, numerous players have entered the industry. The Apparel manufacturing was considered as the least capital intensive sector of the textile industry; hence had low entry barriers. But, it was greatly labor intensive which demanded skilled, unskilled and semi-skilled laborers.
Denim has been widely acknowledged in India since many years. Indian denim market was measured at USD 1.2 Bn in 2011 and was projected to rise at a CAGR of 15-18%; having potentiality of doubling its size by 2015. Moreover, it was likely to boost up to USD 124 Bn by 2020. The Indian denim market was subjugated by the non-branded players who grabbed major shares of the denim market.
Traditionally, India was one of those countries where sales of menswear exceeded women’s. But gradually the scenario changed as the market study demonstrated that the sales of women’s clothing were rising rapidly than menswear. Historically, women’s clothing had beenrestricted to home wear and items for special events. Withabout 20 percent of India’s urban women in the
employment, they were keener to dress uniquely when they moved out from the home for shopping, or visit a school or at office.
Unmesh Sharma, a consumer analyst at Macquarie Securities, believed that while men had adopted jeans wear in India much earlier, for women the shift had just begun.”Earlier women wearing jeans in a tier-II city was not social accepted, which is not the case now. Also, in the primary market in the metros, the disposable income of the women has increased manifolds,” (Denim-wear biggies all set to woo Indian women – John Sarkar & Aman Dhall, TNN, Nov 18, 2007, 02.20pm IST) Women’s denim jeans were slowly gaining weight compared to Men’s denim due to the fact that women’s jeans (counter to men’s jeans) could put up almost all kinds of denim novelty in the existing or new variety. Women were becoming more fashion concerned than men and were inclined to buy jeans. This was the reason that the US utilized more of women’s jeans than men’s.