The days when fashion was the exclusive preserve of adults are long gone. The millennial culture provided kids’ fashion with the much needed boost and unveiled the true potential of the segment to the fashion retail fraternity worldwide. Especially in India, while the sector was just non-existent till a few years ago, it has now embossed itself as the most propitious segment of the Indian fashion industry – with even a dedicated annual fashion show to its name. “While the fashion industry is still dominated by the menswear segment, it’s the kids’ fashion segment that has registered the fastest growing rate. The Indian kidswear market in 2017 was estimated at Rs 66,904 crore accounting for 20 percent of total apparel market of the country. Kidswear is expected to grow at CAGR of 8.1 percent to reach Rs 145,445 crore by 2027, whereas men’s wear and women’s wear are expected to grow at relatively lesser CAGRs of 7.5 percent and 7.6 percent respectively.“It’s a huge market today,” says SharadVenkta, MD & CEO, Toonz Retail. “The estimated size of kidswear in India is Rs 70,000 crores and the kids apparel market is forecasted to grow at a CAGR of over 12 percent during 2019-2021,” he adds.
The kidswear market in India has witnessed seismic changes in the last few years – both product and consumer wise. Parents now exhibit a considerable brand awareness and inclination towards high quality apparel products for their kids. This has even trickled down to the kids as well, who have now emerged as a new, independent buyer group altogether. “As families travel more and have more awareness of western markets, the tastes of parents and kids are changing. Movies/music and easy to access mass media platforms like youtube, etc., are also influencing their tastes,” says Sally Wells, Senior Buying Manager.
Growth Factors.
The kidswear market has been propelled chiefly by the increase in the income and changing lifestyle of modern parents – parents want their kids to stay with the trends. This has given immense opportunity to retailers at all levels and geographical regions to expand their market. Changes in the composition and structure of Indian families have also been instrumental in boosting the growth of this industry. The rise of the nuclear family in urban India has resulted in increased purchasing power, with parents willing to shell out anything for their children. With changing lifestyles, there is also a need-based demand stemming from more frequent socialising, wanting to have children look the best for photographs on social media and for when friends and family come to meet and greet the new baby.
Propensity Towards Brands.
Traditionally, the trend was basic functional life-style kids’ apparel dominated by the unorganised sector, but today, the growing trend and brand awareness among parents and kids has resulted in an increased inclination towards branded clothing. “Growing trend and brand awareness stemming from international travels and the growth of social media has led to increased consciousness and more awareness of global fashion trends, making parents more inclined to buy branded clothing for their little one,” says MeghaUppal, Creative Director, Bambiola.
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