Fashion industry growth to garner designerwear retail: Assocham

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Retailing designerwear in department stores seems to be a productive business proposition as, according to estimates of a report on the Indian fashion designing industry by Associated Chambers of Commerce and Industry (Assocham), about 60 per cent of male shoppers and 72 per cent of female shoppers in India prefer shopping for designerwear in department stores.

The report says that 46 per cent of male buyers and 38 per cent of female buyers vouch for exclusive brand showrooms. The frequency of purchase is the highest amongst youngsters, though women in the 41 to 50 years age group are also big shoppers. The northern and western regions of India account for the highest shopping for designer apparel.

According to the estimates, the Indian fashion designing industry is expected to create additional employment opportunities for around 50,000 skilled professionals including fashion designers and merchandisers. The industry is also poised to touch around Rs 750 crore by 2012 from the present estimated level of less than Rs 290 crore.

The report says that heavy investments by Indian companies in this sector, the ready availability of designer wear in shopping centres and malls, rising consumers’ interest in designerwear, and exposure to western media are the main reasons behind the quantum leap.

Suggesting measures to aid growth of the industry, the report stated that the government should establish more fashion institutes across the country with R&D facilities in each state or at least every zone, so that the regional expertise in apparel is brought to light.

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