Start-Ups In Fashion Are Catering To Niche Segments

The start-up ecosystem in India is driven by the huge need of innovative solutions and products. There is no single industry which has not embraced innovation and the growing Fashion industry is one of the examples. India, in the recent years, has been a great market for global fashion and design industry reflecting a rapidly growing middle class and an increasingly powerful manufacturing sector. Industry reports suggest that the country is propelled by strong macroeconomic tailwinds, and its GDP is predicted to grow 8 percent a year between 2018 and 2022 (exhibit). It is set to evolve from an increasingly important sourcing hub into one of the most attractive consumer markets outside the Western world. The future in fashion is likely to see brands originating from India, manufactured in India with well-established worldwide distribution and retail, and also being adopted by the western culture.

This growing fashion market has not gone unnoticed by the start-up fraternity. The industry is spawning numerous start-ups that are geared up to enter with their distinct style statements. Many of them have well understood the opportunities and have come forward with great unique ideas. There are many new ventures that have taken up unconventional business models such as rental, subscription and B2B selling for apparel, apart from concepts that involve sustainability and divergent product categories like sustainable fitness clothing, wellness products or handlooms and handicrafts. While some are opting for pre-owned fashion business others are catering to niche segment like lingerie and yoga clothes and accessories. Overall, the position of fashion startups looks quite promising.

In our current edition, we have complied a list of `10 Best Fashion startups' that are sustaining themselves and are working on building their brand value in the Indian economy. These new-age ventures are seizing more and more consumers through the sheer value of their product offerings.

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