The Indian fashion industry is closely linked with the textile industry, which contributed 2% to the GDP and employed more than 45 million people in 2017-18, as per an IBEF report published in 2019. During the festival season, Indian fashion is in glorious display.
Shilpa Sethi, Founder, Dapper, a men’s fashion line, told BE, “The festive period is the biggest shopping period, accounting for 30-45% of annual sales for the fashion fraternity. Dhanteras season sales are definitely something that we look forward to. There is already a buying sentiment in the market and as we spend on promotions and launch of new collections, we are expecting a manifold increase in sales.”
By the end of this fiscal, the Indian textile industry is expected to reach $250 billion, as per an IBEF report of August 2019. The fashion industry is well placed to come up with innovative creations during this time.
Anand Saraf, owner, Verse, a prominent fashion line, told BE, “The main shopping for ‘bridal’ and ‘festive’ wear starts post-Durga Puja. Around 15% of the sales happen during this period which comprises bridal outfits as well as festival wear. This year also we are expecting a similar share. For Dhanteras, this time we have come up with newer drapes, bright colours, cowls and crop tops.”
India’s apparel market will be worth $59.3 billion in 2022, making it the sixth largest in the world, according to data from McKinsey’s Fashion Scope. India is courted by many international fashion brands. Simultaneously, Indian brands have also been expanding their reach.
Surbhi Pansari, founder of her eponymous label, told BE, “With the economy taking an upward rise as the government announces new and favourable business formats, we look forward to a great response this festive season. Diwali is a festival where people love to shop for themselves and upgrade their fashion quotient by opting for the latest trends in ethnic fashion. Men have become more experimental with silhouettes and colours. Dhanteras looks very promising this year.”
Fusion wear has grown over the years.
Devina Salarpuria, owner, Studio Moda, India a fashion boutique, stated, “The line between Indian and
non-Indian wear is blurring slowly. Western fashion gets about the same importance as Indian fashion, though serving totally different purposes thanks to the active social lives people have these days. StudioModa clothes use rich bright colours to complement the wearer's mood, and has metallic embellishments We recommend pairing these with Indian wear.”
Men's fashion has evolved. Sethi said, “ Today, the sartorial man has particular tastes, especially, for festive occasions. Be it newer silhouettes, unconventional colour palette or just building a wholesome wardrobe, the scope of experimentation with men's style is endless.”
Like other businesses and industries, the fashion industry also makes strategies to make the most of the festive season. Sethi said, “Our business strategy before the festive season of Dhanteras is to create a cycle without ‘scarcity’. We ensure good stocking up before this season for early shoppers to find a good collection of festive garments. With increased sales, issues like delayed pickups, and deliveries arise. But we have learnt how to handle these issues.”