Mumbai, Jan 23 (IANS) The growing fashion consciousness among Indian women has turned the western wear segment into a lucrative and highly evolving market, says designer Divvya Bhatnagar.
"In India, the apparel industry is highly fragmented and competitive. Due to rapid urbanisation and higher disposable incomes, the 'price sensitive’ Indian consumers are now ready to pay for the quality western wear,” Bhatnagar, a former beauty queen and grooming expert, said in a statement.
Bhatnagar, who will participate in the 60th National Garment Fair - organised by the Clothing Manufacturers Association Of India (CMAI) in Mumbai Jan 28-29 - for the first time, has two line of garments to her credit.
While her first line of semiotic fusion-inspired mastige prêt is available under the label DCBD and priced in Rs.1,500-Rs.3,000 range in key cities, another prêt line titled “Divvya” is available at Kimaya, Karmic and Camouflage boutiques in Mumbai in Rs.3,000-Rs.6,000 range.
Going beyond the boundaries of urban markets in major metros, casual wear is picking up pace in mini metros, Tier II and III cities as well, says Bhatnagar, adding that while denims are the biggest category, dresses, jackets are making their presence felt.
“Among established brands as well, earlier, only five percent of the total product portfolio consisted of dresses. In the last two or three years, the percentage share has increased to 35 percent,” she pointed out.
According to a latest report titled “Indian Women Wear Market Forecast to 2015” by business consultancy firm RNCOS, the women wear industry will grow at a compound annual growth rate (CAGR) of around 11 percent during 2013-15.
“This high urban population is expected to splurge on casual wear products and as a result, by 2020, there will be more than 70 million aspiring consumers who can afford to consume on par with consumers in the developed world,” the report said.
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