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The innerwear market has come a long way in India. From being just a functional wear category to becoming a fashion quotient, the segment has brilliantly created a niche for itself. With the rising incomes, passion for fashion and need for comfort, innerwear, today, is among the fastest growing fashion segments in India.
With the rise in the fashion accessories to style the everyday outfits with cheap and affordable jewelry, the brand has collection of all sorts of some amazing costume jewelry. It is gaining significant traction due to easy availability and wide variety of new designs. The basic raw materials used to manufacture costume jewelry include metal, plastic base metal, silver junk, beads, ivory, etc.
The manufacturers and retail soon caught on to the logos trend and started using consistent names which went on to become famous underwear brands. The customers didn’t really give any serious consideration to the underwear section, it was a basic necessity earlier and people did what was the basic minimum. It’s said that brilliant advertising is not just catering to the need but creating a need in the consumer’s mind when there was absolutely no awareness of the product.
“We believe that a high quality product that retains its performance properties and aesthetic appeal for many years is more environmentally responsible than one that must be replaced frequently due to inferior materials or poor workmanship. All our product hangtags, as well as our company business cards are printed on certified 100 percent post-consumer recycled paper. To reduce the total amount of paper used in our marketing materials, and the energy consumed to make and recycle them, we are moving towards more electronic billing, publishing and communication. This will offer consumers greater information at their fingertips, while reducing the volumes of our printed materials,” he says.
Along with this, brands should be able to grow on the booming high street, e-commerce and omnichannel distribution models. While brick-and-mortar stores will never become obsolete, online platforms will contribute a large extent to the growing demand, as it is far more convenient to shop online, and at times cheaper.
“Entry of global innerwear brands has increased awareness, and with the rising discretionary spending, all segments have registered growth. Foreign brands have brought in variety through international styles and fabrics. Indian consumers are also willing to spend higher-than-before amounts on innerwear. This has provided an exponential boost to premium and super-premium innerwear brands. Mid-segment brands have started extending their product portfolios as well,” says a spokesperson from Jack & Jones.
Notably, among all apparel, the shirt is one of the most orthodox product categories that has held on to a two-season fashion model – Spring Summer and Autumn Winter – thus far. Times are changing, though. Fast-fashion brands are out there of course, but now the non-fast fashion brands are also upping the ante by introducing interim shirt collections or drops to cater to the growing demand. As international and home-grown shirt brands in India strive to shedaway the two-season convention, they are re-visiting and re-adjusting to develop their production and sales strategies, accordingly.
Ravi Prakash Singh, General Manager, Citykart, spoke about the company’s strength in supply chain operations. He said, “Automating supply chain operations has become a must to future proof businesses, addressing needs of wired customers. To reach our ambitious goal of making fast fashion accessible to customers in small town and cities, we have also invested in deft inventory management – a system of record that keeps a rigorous control over stock and highlights the critical areas related to sales and stock numbers. We aim to strengthen these capabilities further to increase efficiency and bottom line of our business.”
On what makes it important for all brands, retailers and consumers to consider investing in responsible/ sustainable fashion, Manjula Gandhi, Chief Product Officer, Numero Uno states, “Fashion has become a consumer product with a limited life span. This is true for both cheap fashion as well as for haute couture. Cheap prices, discounting and vast choices allow large amounts of clothing to be purchased. Now that people communicate much more through pictures via Instagram and other social media platforms, it becomes imperative for customers to spot a fresh look always. And so, an avalanche of consumption has been set in motion which is threatening to choke the planet. It is true that many fashion companies and brands today are following the philosophy of sustainability. Denim brands have realized the market for sustainable and responsible products which is set to grow basis the rising awareness. The realization has come about mostly as a result of many different factors coming into play at the same time, one of them being changing values of society – durability and sustainability becoming increasingly important especially among young people. It is no longer enough for fashion companies to talk about their green ambitions, they have to prove that they are taking actual steps in making their practices greener and more ethical.”
– This by itself may not be enough. Manufacturers also need to have spare capacity to process Quick-response replenishment orders. This is where buying and retaining minimal capacity with a few core vendors comes in. While this at the outset, sounds counter-intuitive, the ability to quickly replenish fast-sellers shall more than make up for expenses incurred in spare capacity buying.
Launched in 1998, Status Quo was formed with a vision to create a whole range across all categories in casual apparels for the youth. Today, the brand is one of the fastest growing men’s fashion brands in India being available at over 2,000 points-of-sale through various large format chains, online platforms and multi-brand stores in India. Internationally, Status Quo has also set its retail footprint in the Africa, Middle East, Philippines and Sri Lanka.
E-commerce Vs. Physical Stores: Distribution channels play a very important role in the success of a product. It is becoming very important, in today’s digital age, for products to be available where consumers are looking for them. Which is why, innerwear brands are making their presence available on online retail stores like Myntra, Amazon, Jabong, etc. Some brands have their standalone websites as well, in addition to being available on online retail stores.
Bansal says, “We have always believed in doing what is right when it comes to sustainable production. It helps to take a very long term view when investing into cleaner production practices. Things might look expensive in shorter term, but it pays off in medium and longer term. Certain measures like water savings and renewable energy have started to make financial sense now. However, certain measures like recycling or organic might still be more expensive and requires a gradual shift.”