siliconindia | | March 20184Known to be one of the fastest growing economies of the world, the Indian economy is witnessing major shifts in consumer preferences. Increasing disposable income, brand awareness and increasing tech-savvy millennial population are the driving factors of corporatized retail within the country. The Indian retail market is expected to demonstrate a promising year-on year growth of six percent to reach USD 865 billion by 2023 from the current USD 490 billion. The share of apparel in India's retail market is eight percent corresponding to a value of USD 40 billion. In addition to fashion apparel, the growing demand for fashion accessories makes the Indian fashion market both interesting and lucrative.To establish footprints and succeed amid the shifting tide, several players have ventured into the fashion segment and are building up their competence so as to stay nimble and jump on the trends right away. A number of entrants - both online and offline, are growing at the speed of light, quickly bringing their banner to global scale. Moreover, the e-commerce portals and marketplaces have already established themselves by providing huge discounts to lure customers thus changing the consumers' mindset and providing wider range of products to choose from. To gain better control over products and to grow profits associated with brand recognition, these retailers are introducing new brand sand focusing on marketing activities to increase sales of these brands. This approach is likely to help them capture the consumers' attention. Additionally, private labels would help in managing supply chains and pricing and thus would impact the retailers' bottom lines. The Indian fashion retail industry encompasses a plethora of opportunities. Fashion retailers have to continue realigning and restructuring their models to cater to the evolving needs of this dynamic market. Nandini MukherjeeSpecial EditorEditorialWhat is driving the change in Dynamics of Indian Fashion Industry siliconindia Vol 06 · Issue 6 - 3 · March 21, 2018 Publisher Alok Chaturvedi Managing Editor Anamika Sahu Special Editor Nandini Mukherjee Editorial Team Amit Raja Naik Ananth .V Pooja Devi Chandrika P Patra Shefali Mathur Sophia Rohtagi Sujith Vasudevan Srrayvinya OLM Trisha Pragya VP - Sales & Marketing Virupakshi Pattar Advertising Managers Editorial queries editor@siliconindia.com To subscribe Visit https://www.siliconindiamagazine.com/subscribe/ or send email to subscription@siliconindia.com Cover price is Rs.150 per issue. Printed and Published By Alok Chaturvedi on behalf of SiliconMedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugesheshpalya, Bangalore-560017. Editor Alok ChaturvediCopyright © 2018 SiliconMedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.advertise@siliconindia.comVisualisers Mohana Krishnan Manjunath Group Art DirectorAshok KumarNoidaAshu Sethi Garima AnandCirculation Manager Magendran PerumalAmeet Kumar Sahoo Nicky Kumari Samatha SP Sambit Satpathy Susnigdha Bhowmik
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