The Indian women apparel market has undergone a transformational phase over the past few years due to growing number of working women, changing fashion trends, rising level of information and media exposure.
The entry of large number of foreign brands has given the industry a new dimension. As a result, various industry majors operating in men apparel segment have now started to diversify themselves into women wear in order to exploit the highly lucrative market that was estimated at more than Rs. 37,000 Crore in 2007.
According to a research report by RNCOS titled, 'Women Wear Market Forecast to 2010', the market, in the past five years, posted a growth rate of good 14%. With the growing presence of organized retail and rapidly spreading mall culture, the industry is all set to grow further in future.
The report emphasizes that women apparel market is expected to cross Rs. 61,000 crore by 2010, where branded women apparel market is projected to rise at a rate close to 25% and surpass Rs. 18,000 crore.
Premium segment apparel is forecasted to account for close to 20% of total women apparel market by 2010, where western wear, along with lingerie, will emerge as the fastest growing segment.
The report also reveals that organized players are expected to account for over 40% lingerie market by 2009.
Demand for textile and apparel machinery is anticipated to increase at more than 100% till 2011 and demand for ready-made garments in rural market is projected to hit a CAGR of around 16.50% by 2010.
The key players of the segment are included Provogue India Ltd., Pantaloon Retail (India) Ltd., Page Industries, and Donna Karan International Inc.
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