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Global fashion brands see Immense opportunities in Indian Retail Sector
Thursday, January 31, 2008

Inaugurating the "India Fashion Forum 2008, Mr. E. V. K. S. Elangovan, Minister for Textiles, said that fashion is the major driving force of the Indian retail sector. Sensing immense opportunities in the sector, a lot of Global fashion brands have started recognising India as an unexplored gold mine. However, a lot remains to be done to turn the country into a hub for fashion.

HE also added that Indian brands in fashion that can be comparable with the leaders in the other sectors like FMCG and consumer durables.

Mobile phones have become the fourth essential commodity after roti, kapda aur makaan, said Kishore Biyani, Managing Director, Future Group, adding that the mobile phone industry was eating into the share of the apparel fashion industry. He also maintained that marketers should visit the 'real' India, to innovate on products rather than go to the US or the UK.

Speaking on the same Nikhil Chaturvedi, Managing Director, Provogue admitted that Indian brands still had a long way to go as compared to foreign brands which were making inroads into India. "But I do not want to create a market before its time has come. Today, the mobile phone sector is booming. After its cycle is over, it will be the turn of the garment sector," he said.

 

 

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