If Quentin Tarantino were a fashion veteran in India instead of a Hollywood cinematic extraordinaire, his preferred domain of choice would no doubt have been kidswear retail – forthis is where all the action is happening in India.
For it’s true – the kidswear segment in the Indian Retail Industry has gained some serious traction over the years. While the sector was almost non-existent till a few years ago, it has now imprinted itself as the most propitious segment of the Indian fashion industry with even a dedicated annual fashion show to its name.
But honestly, in my opinion, the transition of kidswear retail from infancy to maturity was inevitable. As financial stability and purchasing power of modern parents grew in the last few years, an inevitable shift from ‘need-based’ to ‘aspiration-based’ manifested resulting in a boost hitherto irrelevant to the Indian fashion industry as a whole. Growth drivers included increased influence of social media, double income nuclear families and brand awareness and an increasing inclination towards high quality products of parents – the last of which trickled down to kids as well, who have now emerged as an independent buyer group altogether. This evolution of kids as consumers has changed the way brands perceived and operated in this space, making way for newer trends.
According to India’s leading management consulting firm Technopak Advisors Pvt. Ltd., the kidswear market is expected to grow at a CAGR of 9 percent from US$ 11.7 billion in 2019 (20.8 percent of total apparel market) to approx. US$ 19.1 billion in 2025. Industry sentinels expect a significant growth and even project predictions of it surpassing men’s wear and women’s wear in the near future.
As one of the youngest nations in the world with an estimated 29 percent of the total population in the age group of 0 to 14 years, India has today emerged as a global hotspot for kidswear. With such market potential, a host of players, both home grown and international, have sprung up to cash in on this gold rush.
The issue features exclusives on the market dynamics of the sector as well as details on the latest trends and consumption behaviour. As always, I hope you find this issue informed and useful.