Apparel | Clothing
About Clothing/Apparel Industry:
More than 90% of the Retail Industry is unorganized. Friendly FDI norms in retail have witnessed migration of many International Brands to India. International brands are strongly dominating the Indian market with their quality solutions, competitive pricing and robust systems. One quarter of the world’s youth live in India. More than 50% of the Indian population is below 25 years of age and due to growing consumer class and rising disposable incomes, there is an ever increasing demand for apparel in India.
Challenges faced by the Industry:
- Setting up a new brand in the competitive market especially when the Western brands are heavily dominating the urban market in terms of their products and pricing.
- Managing dead stock effectively
- Adoption of new technology to ensure minimal pilferage and effective stock management.
- Unorganized & traditional way of running the business
- New organized brands overpowering old traditional brands
- Identifying our USPs and devising the expansion strategy