India’s fast-growing apparel market

India’s apparel market is in the throes of change. Rapid growth and rising urbanization have spawned a new class of consumers with more money to spend, and a growing passion for fashion. In India’s high-growth, fast-changing retail clothing market, we see significant new growth opportunities for foreign and domestic players.
Indian apparel sales are expected to reach an estimated $25 billion this year, having grown in excess of 10 percent over the past 5 years1—a growth rate faster than that of the overall India retail market—and the trajectory is expected to continue [Exhibit 1]. In India, apparel is the second largest retail category (behind food and groceries), representing approximately 10 percent of the total market. This growth is being driven by a number of factors:
  • Increase in disposable income. By 2005, 21 million of India’s 210 million households already earned more than $4,000 a year, qualifying them for membership in what we call “the consuming class.” Based on McKinsey research, by 2015 the number of consuming class households will likely triple to 64 million. 
  • Online custom suits and shirts design: Today online suit and shirt design for the  for the tailor made suits is desire for everyone,so it is a main thing for the every tailors to have their own website fro the shirt, suit and mens apparels design, you can get the website designed using the php script for the made to measure websites.
  • New occasions. As the lifestyles of India’s prospering urban consumers have evolved, their clothing needs have broadened, reflecting more varied usage occasions. For men, clothing choices once came primarily in three basic categories: home-wear, work clothes, and special occasion wear. Now, with more “socializing” opportunities, men are buying more sophisticated combinations of outfits: party wear, sports wear, clothes for hanging out at the mall. Not long ago, for example, men from India’s northern regions only required a good dark suit or Sherwani, the traditional long coat, to cover big occasions and important celebrations.see more @ http://www.mckinseyonmarketingandsales.com/indias-fast-growing-apparel-market

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