Organised retailing in India has reached its next level with many global brands entering the market. While a decade back, as the retail revolution began in India, major fast fashion brands had ventured into the country.
However, in the second phase few other brands have made their presence felt. Brands like Zara and Mango almost changed the fashion perspective of Indian youth and now with the entry of brands like GAP, Hennes and Mauritz AB (H&M), Japanese retail brand Muji, the dynamics of fashion retailing has got an interesting twist.
With growth in per capita expenditure and increasing disposable income of new generation urban population, India has become a lucrative market for global brands. Also, internet penetration and high literacy has fuelled the retail revolution through e-com boom, thus opening the sector to fashion brands from all over the globe. The new FDI rule for retaining industry has been a major catalyst. With relaxations by the government in FDI upto 51 per cent for multi-brand and 100 per cent for single-brand, the arena couldn’t be more enticing.
Moreover, multiple taxation was a major hassle for most foreign brands, which now has been eased out with GST. Also India is a country of diverse ethnicity and culture hence understanding of the Indian consumer and the major and minor nuances with regard to Indian consumption and shopping patterns, remains a task too for the global brands.
Apparel & Textile News – Apparel Talk, Indian Apparel