1.9 Key players:
The apparel retail industry is now experiencing a huge development and making a remarkable contribution to GDP, it needs a better and exclusive regulatory framework to sustain the impressive overall growth of the industry. Competition in the retail apparel sector is getting stiffer in the nation as many big market players both national and international are testing and applying different retail plans in the market .Entry by new players is still at a promising stage. But, the increasing competition in the sector would, in due course, lead to a drop of profits with each retail chain trying to attract consumers through new, innovative and effective ways.
The key players in the apparel retail market are:
1. Madura fashion and lifestyle:
Madura Fashion & Lifestyle, which is a division of Aditya Birla Nuvo Ltd, is one of India’s leading branded apparel companies and is considered to be a premium lifestyle player in the retail sector. After consolidating its market leadership with its own brands, it introduced premier international brands, enabling Indian consumers to buy the most prestigious global apparel wear and accessories within the country
2. Raymond apparel:
A 100 per cent subsidiary of Raymond Apparel Ltd. (RAL) ranks amongst India's largest and most reputed apparel companies. They bring to customers the best fabric and style through some of the country’s most prestigious brands Raymond Premium Apparel, Park Avenue, Parx and Notting Hill.
Raymond Apparel Limited entered into the ready-to-wear business with the introduction of Park Avenue in 1986 catering to the men's formal wear market. Parx was introduced in 1998 to address the growing trend of smart casuals. Raymond identified the gap for a high end, casual wear brand and hence decided to acquire ColorPlus as a part of their strategic expansion plan for their ready-to-wear business. Notting Hill was launched in 2007 to cater to the popular price segment sector.
3. Arvind lifestyle brands:
A subsidiary of Arvind is the other largest player in apparel retailing space of India .It has portfolio of 1 international brands and 12 .its own brands. It also now holds Ed- hardy, which is projected to be launched in 2013 with new global product and different pricing strategies.
Apart from these above mentioned above players the other which also enjoy a good position in the Indian apparel retail market includes, Kouton retail India, Indus- League clothing, Zodiac Clothing co.
1.10 Indian consumers:
The Indian Consumers are subjected to drastic changes in their spending habits.
Recently, the consumers are giving more importance on pleasures and education of their children. They are becoming more materialistic. The Indian Consumers need global, branded and local products. There is a growing domination of global brands, from foreign retailers and also local brands among the Indian retailers. The growth of information system has exposed Indian consumers to various global...