The Fashion companies in India are appearing as one of the world’s fastest-growing markets over the last few years. As per reports, the market of the fashion industry is forecasted to grow with a 15% CAGR till 2022 and emerged as a $102 billion market. (Source - FashionNetwork )
Moreover, online social media platforms are likely to control more than two-thirds of both fashion and apparel products purchases by 2022.
According to the ‘Eliminating Friction in Fashion Path to Purchase’, a report by Facebook, KPMG and Nielsen, the increasing penetration of the internet, e-commerce and social media is now catering to the customers in tier 2 cities and below, this has increased access to products and brands among them.
The report says to acknowledge the reasons that lead to dropouts in the way to purchase of fashion and apparel products, considered as ‘friction’. Friction further leads to a potential loss of revenue for the brands.
This research also shows that in the fashion category, 19% of consumers drop out because of friction, and more than two-thirds of this friction is effected by the media.
In fact, Facebook is likely to control more than half of the mobile-influenced purchases for both fashion and apparel products by 2022.
In addition, online purchases of apparel from mobile are 14% less than offline purchases, while that of fashion accessories are 25% less than offline, as the report claimed.
Recently, Mr Piyush Goyal, Minister of Commerce & Industry, told that India should eventually become the fashion capital of the world and reflect its presence worldwide by having its products displayed alongside prominent fashion houses.
There are more than 3,80,000 employees working in the Fashion industry in India whereas the count for the same in the world is 4 million.
There are 17,000 Fashion companies in India and 3,00,000 Fashion companies in the World.
The top 10 Fashion companies in India are following:
Get contact information of Top decision makers like Founder, CEO, CFO, CMO, CTO, Marketing head, HR head, Finance head along with headquarters, no of employees, revenue, founded year, industry in these companies.