With festivities around the corner, ethnic wear market has been attracting crowds. Not only this fusion ethnic wear has become a preferred festive dressing, women sporting Indian-style pantsuits and men, sharply cut Nehru jackets.
The market is dominated by women’s ethnic wear which contributes 83 per cent to the total market followed by kids’ ethnic wear and men’s ethnic wear with shares of 9 per cent and 8 per cent.
It’s the perfect confluence of ethnic and western, that’s ruling the roost in the fashion industry these days say experts. In order to cash-in on the growing demand, companies are expanding their presence into the territory which is growing by 15 to 20 per cent a year. The recent entrant is Max, the most popular Landmark Group brand. Max is launching the men’s ethnic wear segment with a private label, Tavish, an extension of its women’s ethnic wear – Tavisha. The decision came on the back of Tavisha’s success in the ethnic market. According to Vasanth Kumar, Executive Director at Max, ethnic garments account for 18 per cent of the brand’s revenue, up from 12 per cent two years ago.
Apart from Max, Manyavar vetured into women’s traditional wear segment with the brand Mohey in May this year. The Vedant Fashions-owned Manyavar, operating 400 stores (including 30 outlets of Mohey) plans to add a total of 300 more stores by the end of 2020.
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