Indian Fashion Retailers Looking To Thrive

It is the augmentation in fashion trends in India that revolutionized the merchandising system in retail industry. Brands in apparel, textiles, jewelry, accessories, footwear, cosmetics and salons raised the business more than Rs 40,000 crore.
The Indian retail market is evolving rapidly. It is palpable that now Indian retail industry requires lots more of fashion. The organized retailing is developing at breakneck speed. It is amicable to all that fashion is a vital part of both the retail industry as well as the brands. Fashion has led the retail industry boom and it has sustained its dominance in every malls, markets and stores.
Since the spread-out of malls is increasing, the major issue will be how to organize fashion retails industry, has potential of making Rs 50,000cr business by the year 2007. Indian retail would cover-up 50mn sq ft by 2007 of sales space countrywide, and nearly 50 % of the total space would be assigned for fashion retailing. It is anticipated that about Rs 20,000cr retail sales would be coming-in from the fashion retailing. A population of over one billion, a massive consumer class, India is considered as the most preferred destinations for investments.
Apparel and textiles makes the biggest segment in retailing sectors, and if we accumulate all the other related segments such as jewelry, cosmetics, watches, health & beauty care etc at one single platform, then fashion would account nearly 60 % of the total retail sector.
With radically changing fashion and retail industry, the Indian consumers are facing considerable transformation. With an increase income levels and increasing attitude "LOOK GOOD - FEEL GOOD", fashion is offering huge potential to penetrate deeper into the untouched Indian markets.
Fashions will account nearly 95% in total sales in the department stores, while in hypermarkets such as Big Bazaar the share could be about 70%. Fashion apparel has been the significant segment in the terms of evolution in Indian retail industry, not due to its size but the way it has influenced lifestyle of the Indian people. It was apparel that led multi-national brands to explore and invest in the Indian market, which led the ball rolling to rearrange the retail industry.
Few key factors that shaped the fashion retail industry are listed below:
. Massive spread-out of the malls, hyper markets and supermarkets throughout the country, even in non-metro cities.
. Mergers and acquisitions, which let huge brands to participate in the local market.
. The advantages by the elimination of global textile quotas in 2005.
. Expansion strategies of brands and retailers.
. Many international brands march into domestic markets.
. Many brands performed well in the mass segment.
. Boom in luxury retail segment.
. Indian fashion designers marked their names at International platforms.
. Considerable expenditure on ad and marketing by apparel brands.
. Enhanced merchandising let the companies to enhance consumer relations.
Few points on which retailers and brands should mull over:
. Collaborative tie-ups with non-competent services providers and brands.
. Offer value-added products, not cash discounts.
. Offer uniform sizing throughout the country.
. Offer personalized services.
. Concentrate on particular buyer or market segment. Take action to fulfill the demands.
. Try to become exclusive stores for specific brands and adopt shop-in-shop system.
. Place well behaved, polite and trained sales staff to manage counters.
. Go for organized merchandising format for your company.
. Avoid offering all at once. Introduce products assortments in a phase manner with latest trends.
. Try to get feedback from the consumer on "What they want?"
Review of some of the retail industry players on the attained targets and their wishes for the current year:
Benetton
Achieved Target:
. Successfully reestablished its place in the market, with opening 22 stores.
. Higher development - In fact the highest of all segments and categories.
. Enhanced brand image from small to huge format flagship.
Wishes
. People should enhance living standard, moving to mono-brand from multi-brand outlets.
. Excellent training and salaries to sales staff and be more mass-oriented.
. Expand in 5 lakh plus towns, providing similar buying experience.
. Looking for continues support from the consumers and to emerge as fastest evolving brand.
. To enhance team's performance in coming years.
Blackberrys
Achieved targets:
. Take a lead in the dress-up segment that features dressing for occasion, success etc in trousers, and also in men's suits.
. Concentrated on top around 70 MBOs and trying to deliver better.
. Enhancing perform of team - planning to establish systems to make them more productive and glad.
Wishes:
. To implement system for on-time deliveries.
. To put scissors on product assortment in terms of the number of styles - which will led company to serve better to fewer customers.
. Excellent outsourcing with making dedicated team to take care of it.
Forbes Gokak
Achieved Targets:
. In a span of less than two years, Daks brand has been successful to hit the Indian market despite of being a foreign brand.
. Managed tie-up arrangements for manufacturing Daks brand in India and Central Europe.
. Also signed agreements for Trussardi and Savile Row.
Wishes:
. To be a front runner in the Indian apparel market.
. To add 25 more stores.
. Allure entire high-end women class to wear Trussardi.
. Enhance sales staff performance.
Gini & Jony
Achieved Targets:
. Signed agreement with Reliance
. Signed license agreement for its kidswear brand 'Levi's Sykes'.
. Increased production capacities at Daman and Baddi.
Wishes:
. To get recognition as global brand in the international market.
. To create a different brand identity for all in related segments.
. Establish entire lifestyle stores for kids, under the brand Gini & Jony
. Pull down custom duties on accessories and fabrics etc.
Modelama Exports
Achieved Targets:
. Expanded product assortment mix and added knits, which was entirely woven product base before.
. Arranged tie-ups with some global brands, such as J Jill, Tommy Hilfiger, Hugo Boss and Marks & Spencer.
. Increased capacity to attain a 40% growth rate comparing to the previous year.
Wishes:
. To train workers (sewing, inspection and finishing).
. To work close with fashion institutes like NIFT to revise and develop fashion trends.
. To introduce a brand, which is competitive, enduring and reliable product.
. To introduce specialized product assortment, featuring all-weather conditioner and change character consequently to match the consumer demands.
. To develop a stage where high-tech technology is available to small and medium scale producers so that they can enhance quality standards.
Pantaloons
Achieved Targets
. Started Asset Management Companies.
. Launched Big Bazaars in remote towns like Sangli.
Wishes:
. Reaching a target business of two and a half thousand crores in 2006-07 fiscal.
. Identify and present the consumers' fashion requirement.
. Dominate the in all fashion segments like lifestyle, premium and value.
. Introduce or acquire new brands in fashion.
. To rope-in best fashion industry veterans.
Piramyd
Achieved Targets:
. Emerged steadily in the market - launched stores at Ahmedabad and Ludhiana, and planning three more in coming months.
. Introduced new brand "Trumart" with three stores in Mumbai and four in Pune.
. The IPO got oversubscribed by nearly 12 times that generated about Rs 108 crore.
Wishes:
. To Launch FDI for least lifestyle retail, this will lead Indian fashion designers to think globally.
. Create enhanced retail space for high-end retail.
. To make Fashion Alliance more practical and a reality to make sure that it gains momentum.
. To make fashion more affordable with a better ambience.
Raymond
Achieved Targets:
. Launched EBOs for all brands.
. Successfully introduced new product assortment such as non-iron shirt in Park Avenue and new suit ranges to uphold brand image.
. Also introduced the womenswear and kidswear collection.
Wishes:
. To launch a magazine on fashion.
. Begin a fashion week.
. Expand in US market.
. To launch a website that talks about lifestyle and fashion.
Sports Station
Achieved Targets:
. Successfully introduced two brands: H2O Plus and CPS Clothing.
. In a move to concentrate on expansion and new concepts for brands, the company has signed agreements with global brands such as Nike and Levi's.
. Launched MBO for leather shoes "Shoe Tree."
Wishes:
. To present new concept, where both international and local brands can be presented under single roof.
. Expand product assortment in luxury, premium and affordable segments.
. Duty validation, especially in footwear which is at a 12.5 % as compared to apparel which is at only 4 %.
. Validating countervailing duty (CVD) which is at of 60 %.

The Changing Face of Indian Fashion Industry

India is a country with diversified customs and cultures. People following various traditions live here, their way of dressing also differ from each other. The traces of Indians being fashionable can be found out from the ancient remains of Harappa and Mohenjodaro civilizations. After the independence, globalization is being witnessed in the Indian fashion industry, due to which changes have occurred in the style of Indian dressing.
Styles of wearing saris and salwar-kameez have changed. The look is more cosmopolitan than region-specific. Different styles of blouses like katori style, halter-neck, back button blouses, high neck blouses, puffed sleeve blouses, etc. have become the hot favorite among women. The average lengths of the blouses have decreased. Saris are draped mostly in traditional back pallo style or gujarati style. Indian fashion scene is greatly influenced by its films. For example Mumtaz style sari draping inspired by yester-year heroine Mumtaz. Here sari is tightly draped around the body.
As far as salwar-kameez is concerned numerous styles and patterns can be given to this garment. For instance the kameez can be long, short, A-line, skin tight, etc. Such variations can be done to salwar as well as dupattas. Modern version of kameez is known as kurti, it could be coupled with jeans, pants or churidar. It has taken the form of Indo-western outfit. People in western countries too have started wearing kurtis.
Emergence of mall culture
Mall culture is slowly and steadily growing in India. Many brands and private labels are launched in the Indian market. The first such retail outlet was Shopper's Stop which launched India's first multi-brand store in the year 1993. The specialty of such malls is that they offer a wide range of varied branded stuff, all under single roof. Some of the famous malls of India are Pantaloons, Westside, Lifestyle, Globus, etc. These retail outlets have also launched clothing line under private labels, manufactured and sold by them. For example- Pantaloons has many private labels under its brand like All, Fashion station and Mela. Some of the major private labels even operate as exclusive stores. The buyer gets an international shopping experience in such retail outlets. There are no nagging sales persons pressurizing the customers to buy.
Family stores are becoming hot favorite shopping hub for the middle-class and upper middle class shoppers. These stores sell garments of nearly all age groups and sexes. Apparels of various brands can be found in family stores. They are being considered as one-stop shopping destination. Roopam, Big Bazaar, Fashion station, V-mart, Maxx, etc are examples of some family stores.

Branding Quality in America - The Globalization of the Apparel and Accessory Industry

The exodus of manufacturing apparel and accessories off shore has led to the crumbling of the domestic factories. This has led to an outcry by some politicians and activists to buy American made products. "Made in China- Designed with the World" is the latest marketing push the finance department of the Peoples Republic of China has blitzed in television, internet, and radio internationally.

China has recently suffered a number of embarrassments stemming from poisoned milk, lead in toys, and a slew of other quality control problems in a number of Chinese products. Most recently auto industry leader Toyota has issued a major recall and apology after a major recall due to brake systems failure across their most popular models. Many analysts believe that the opportunity for domestic product to ramp up and take advantage of what is perceived as a decrease in the demand for imported items. Would it make sense to purchase only US made goods given the current economic circumstances?

First a comprehensive cost analysis would be required to make an informed decision. Let's take a closer look at the apparel and accessories industry where nearly all goods are now outsourced. There are macro costs that need to be analyzed carefully. Cost of materials, cost of manufacturing (labor), and import (transportation and duty) costs. What analysts fail to realize is migration of the apparel industry led to a specialization in other markets as demand has ramped up. China for example has become the textile factory of the world. The haute couture houses in the United States and Europe crease the designs and patterns. The sketches are sent to fashion manufacturing hubs in Hong Kong, Shanghai. Once sampled and approved they eventually end up in your Nordstrom's or Bergdorf Goodman's.

Overseas laborers have also become skilled craftsmen in their trade, outperforming their American and European counterparts in output and productivity. This specialization leads to higher efficiency and quality in construction. Goods produced overseas also offer less expensive finished goods. In some categories 40 to 50 percent less expensive than if manufactured domestically. This savings is then passed on to the end consumer. It is important to keep in mind that as the economy continues to globalize, lines that were once drawn have dissipated. Manufacturing is done in China, but the design is in Europe, the sales are in the US. In the jeans industry, the fabric comes from Asia, the jeans are cut and sewn in Mexico or Columbia and the finished good is shipped across the globe.In this 20 year low. Only the labels that set this standard and provide affordable prices will succeed.

Ultimate responsibility lays on the Quality Control standards of the label. High standards, onsite inspections, color, material, and construction approvals, laboratory testing, and a number of other measures should be in place to ensure the quality of the brand. Only the labels that set this standard and provide affordable prices will succeed.

How the Indian Fashion Wear Industry is Emulating the West

Indian fashion wear has been constantly evolving, thanks to foreign traders, western colonialism, and Greek and Islamic invasion. However, Indian fashion industry's forte lies in its free-wheeling nature that aids absorb and transform anything foreign into truly Indian so much so that it becomes very difficult to identify its true origin. Today, the India fashion industry is driven by customer choices as well as globalization of Indian economy.

Various reasons for western influence on the Indian apparel and costume industry:

Open-minded culture coupled with cultural diversities:

India is a multilingual country inhabited by multi ethnic groups. The best part being each group has its own unique style and type of dresses and costumes. Indian Fashion designers are known to interweave these diverse fashions and lend an amazing Indian touch to them.

Winning of beauty pageants on international platforms:

In recent years, Indian women have been doing the nation proud by winning many international beauty pageants and naturally their style of dressing has highly influenced the ladies fashion /ladies apparel industry in India. The dresses donned by these participants are a blend of Indian and western wear. Commoners openly ape their role models and this eventually becomes the latest fad in the general fashion wear industry in India.

Indian Movies - a big influencing factor

Indian movies are known to leave a lasting impression the minds on Indians. In fact it affects everyday lives. People blindly emulate what their role models are wearing. And with movies following the western patterns of dressing it is natural for the ordinary folks to imitate them lock, barrel and stock.

Wide scale impact of Globalization and Liberalization:

Indian imports from the west have also made it easier for Indians to keep a track on the latest fashion clothes and accessories ruling the Western men and women's wear market. Incidentally, Indian fashion industry has been drawing even western buyers. Needless to say, the fashion fraternity in India have willingly adopted western designs keeping in mind both the Indian and western sensibilities. Furthermore, liberalization has led to the beaming of western soaps that hinge around western style of living. The Indian denizens have taken a liking for such soaps to such a great extent that they don't mind adapting the social and cultural changes and western lifestyles as well.

Overseas Education and employment opportunities:

The craze of going abroad and pursuing higher degrees has also brought about a perceived change in the fashion and lifestyle of young Indians. Indians consciously imitate the western style of living so as to make themselves attune to the lifestyles of the foreigners, so in case if they need to travel abroad they find it easier to adjust and move on with their lives. Moreover, employment opportunities have also attracted many young men and women to leave Indian shores and make a living for themselves in foreign lands. This naturally calls for a change in fashion style to suit the foreign sensibilities.

Use and throw concept:

Street wear concept developed in west and no doubt is slowly catching up in India as well. Street wear mainly involves low-priced clothes that cold be worn a couple of times and then discarded. Street wear is considered economical as opposed to the Indian traditional clothes that involve fine cotton, silk, etc. Street wear are produced in bulk and sold at the cheapest rates.

The sum and substance being the Indian fashion scene is completely under the influence of the west. The concepts and designs have been effectively intertwined into the Indian Fashion Industry.

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In earlier times, people wore clothes to cover their bodies, and protect them from climate conditions. As the wheels of time spin, now people prefer clothes that are trendy. Fashion is a term used to describe the style of clothing used by most people in a country. A fad remains for few months, and is then replaced by another one. Trendy apparels are available for today’s fashion savvy people for all ages starting from kids, teenagers, adults to old people. Apparels are also worn to represent the social status of a person. Indian apparel industry accounts to 12 percent of the country’s total exports making it one of the world’s largest foreign exchange earners.

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