Reasons behind the growth of Multi Designer stores in the Fashion Industry in India
The fashion and retail sector is booming at a rapid pace and is likely to reach a new benchmark in the Indian Fashion Industry. According to McKinsey’s latest report, India’s apparel market would be worth $ 59.3 billion by 2022, making it the sixth largest in the world. Fashion in India has always been versatile and rich as we have our native dresses and traditional costumes from different regions.
However, this Industry in India has gone through many variations due to globalization trends, the fusion of Indian and western styles and effects of western culture in India. India has become a popular fashion hub for many global brands. People are more aware of the global trends, especially in the luxury sector, therefore, the demand for fashion forward styles in India has increased. This has indeed changed the retail market sector and brought challenges. This is because fashion has become a basic need and there is an increase in the awareness level of consumers. Today’s consumer knows the difference between a sub-standard product and high-quality apparel.
The growing industry of fashion fascinates western brands to participate in the Indian Fashion Shows or the annual shows by the designers. India is the land of leading fashion designers who have made a global name and style international celebrities as well. This is because the Indian designers are highly appreciated for their exquisite work and have immensely contributed to the Indian fashion market, among the consumers and large parts of the western market.
A recent trend of multi designer stores has fared well for renowned as well as budding designers. This phenomenon has given rise to a platform for designers to reach out to their target audience all at a concentrated location. It has also made it easier for customers to choose from a plethora of designer wear to suit their choice. Also, it is important to note that the startup sector in India has witnessed a growth in fashion business. Such
There are a few factors contributing to the rise of multidesigner stores in the fashion business like
Consumer’s changing fashion choice
Designer boutiques and Multi designer stores are on a rise as consumers are shifting more towards the affordable designer wear. Consumers choice for fashion is influenced by a deep insight into a brand either by research or reading online reviews. Consumers are actively looking for new labels to wear. This is where multi designer stores serve as a 360 service provider. Newer trends with an option to customise and pair accessories customized preferences to their consumers. For this, multi designer stores are a preferred choice of a modern day consumer as it is convenient and under one roof.
Platform for fashion designers
E-commerce can be difficult for a designer in establishing a brand or a startup. A designer can create designs for their customers but the product itself will never get developed without a marketing partner. Therefore, Multi Designer stores are high in demand as they provide a platform for many designers to showcase and monetize their creations. Most designers showcase their collection in flagship stores as well as multi designers stores to capture the maximum market. However multi designer stores are a great first step for any budding designer to showcase his creation without having to spend much on an individual store or marketing. This way, these designers can also test the waters before establishing a fullfledged brand. Therefore, multi designer stores are a win-win for both parties.
Designer boutiques and Multidesigner stores are on a rise as consumers are shifting more towards the affordable designer wear
Latest Fashion experience for consumers
Multi designer stores provide luxurious fashion experience for consumers with a wide choice of labels and designs from different designers. Indian fashion designer’s collections, as well as the presence of international brands, makes it an ‘it’ destination for shoppers.
Market Trends and Opportunities
The prevalence of designer wear in the retail market is rising due to an uproar in demand. Demand for a distinct style or something unique to wear helps a designer store and the fashion designer to grow and explore the market scenario.
It is important to point out that designers’ stores have great advantages to sell in both a physical location and an online platform. Therefore, creating a much wider platform for designers. For fashion designers, such stores present an opportunity for free marketing. Stores want to capture their online audience through influencer marketing on Instagram and Facebook. These can provide any business with solid backing and push them towards success.
Connecting Designers with Consumers
Multi designer stores are beneficial for both the designers and the customers. A platform supported with manufacturing, marketing or eCommerce, a creation platform and a market with fewer middlemen, bringing designers and consumers closer than ever.