The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Following investments in traditional Indian attire by rivals, including Tata Group and Aditya Birla Fashion and Retail (ABFRL), Reliance Retail plans on launching a chain of stores in the space under the name Avantra, India Times reports.
The move will reportedly see Avantra unveil mid-size stores with a value-oriented offerings of items such as kurti and sari, sources told India Times, to coincide with India’s wedding season. While Tata Group’s jewellery brand Tannishq has recently moved into the segment, ABFRL has acquired stakes in local designers like Sabyasachi and Tarun Tahiliani.
Though younger Indians are driving growth for global fashion brands selling Western apparel to the market, traditional attire still reigns supreme and makes up 71 percent of India’s womenswear market, according to Technopak Advisors.
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Sabyasachi Mukherjee: King of India’s Bridal Market
The designer, whose bridal pieces are worn by India’s billionaire heiresses and Bollywood superstars, has built a luxury brand that’s set to generate $35 million in revenue in 2019. Now, he’s on a quest to tap the lucrative fine jewellery market and take his business global.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.