India’s fashion scene is undergoing a dramatic transformation, fueled by a young, aspirational population and the rise of digital platforms. According to Kanika Vohra and Anuradha Chandrashekhar, co-founders of ICH Creative Consulting and former executives at AJIO.com, the industry is poised for explosive growth thanks to three key factors:
- Digital Democratisation: Traditionally, building a successful fashion brand required significant investment in manpower, manufacturing, and physical retail space. However, the digital revolution has flipped the script. Direct-to-consumer (D2C) channels and e-commerce platforms have empowered designers and even small-scale entrepreneurs to bypass traditional hurdles and reach a global audience without needing large production runs.
- Niche Power: While established brands will retain a significant chunk of the market, Vohra and Chandrashekhar see immense potential for smaller players. They can carve out a loyal following by focusing on craftsmanship, personalisation, and ethical production practices – areas where mass-produced fashion often falls short. AI-powered logistics are further boosting their game by streamlining operations and improving efficiency.
- Forecasting the Future: In this fast-paced environment, fashion forecasting is more crucial than ever. By accurately predicting consumer demand months in advance, Indian brands can optimise inventory, minimise discounts, and stay ahead of the curve – both domestically and internationally.
The takeaway? India’s fashion industry is on the cusp of a golden age. By embracing a strategic blend of tradition, innovation, and data-driven forecasting, both established labels and emerging D2C players can thrive in this exciting new era.
