Indian Garment & Accessories, and its Ascend
(Contd. from page 1...)
Due to the high price tags of brand in India for the foreign players, domestic players have no fear of any outside competition. The main hurdle to the disciplined players is the huge unorganised scenario of the market. To compete this, the disciplined players roll out their own strategy of standardising the goods.
Fashion is identified more than a dress. A beautifully designed garment without the right complimenting accessories and proper attention to other important details is an unfinished piece of art. It also deals with embellishments on the garment while others on the style of the garment. Yet others deal with processing of the garment in different finishes. The recent introduction of accessories has revitalised the trends for production. Quality issues are likely to hamper Indian accessories sales until the structure of India's accessories marketing system changes significantly.
Apart from the Button, Belt, Metal buckle, Nylon/Plastic Buckle, Hook-Loop/Velcro Tape, Laces, Woven tape, Bra. Acc., Label, Reflective product, Interlining Ornament/Jewelry, Swimwear and Beachwear are in market, but Zippers are in trend. For instance the cool brass buttons on Levi's or Wranglers was originated in India.
The tailor-made-garments, private labels are emerging very well and manufacturing specific garments according to needs. These private labels are 25 per cent to 30 per cent cheaper than branded labels, now a days. These private labels are eying in retail sector. Adding a 50% retail margin, retail sale was worth Rs.2.65 Trillion. This disposable wealth leaves very little for industry as it was reflected in the measly 5% of private expenditure referred to earlier. Meanwhile, the sizes of malls have been increasing from 3 lakh sq.ft. to 10 lakh sq.ft. But this does not necessarily mean increased availability of garments. Thus the foreign player like Wal-Mart declared to increase its strength in India to $10 billion in the next couple of years, and GAP sources about $600 million and Hilfiger $100 million.
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