Description
Dear Readers,
Over the past 25 years, the fashion retail industry has undergone a remarkable transformation—shaped by shifting consumer aspirations, evolving business models, and the constant interplay of creativity and commerce. From the early days of organised retail to today’s complex, omnichannel ecosystem, fashion has mirrored the pace of change in society, technology, and the economy. What was once a largely fragmented market has grown into a dynamic, globally connected industry driven by scale, speed, and innovation. In India, this journey has been particularly compelling. Rising incomes, urbanisation, global exposure, and a young, digitally native consumer have fuelled the expansion of fashion retail across categories, price points, and geographies. Brands have evolved from product-led players to experiencedriven organisations, while retailers have adapted to new formats, faster trend cycles, and the growing influence of data and technology.
The Knowledge Company estimates that in the fiscal year 2024, the fashion retail market was valued at approximately $70.29 billion (Rs 6,18,525 crore) and it is projected to expand by a strong 11% to reach approximately $78.02 billion (Rs 6,86,562 crore) in fiscal year 2025. This dynamism is also reflected in its growing contribution to the overall retail sector, with its market share anticipated to increase from 7.3% in FY 2024 to 7.4% in FY 2025.
This growth, however, has not come without its inflection points. Each phase of expansion has brought new challenges—whether it was building scale, managing supply chains, navigating digital disruption, or responding to changing consumer expectations. Sustainability, circularity, and ethical responsibility have emerged as critical considerations in recent years, joining a broader set of imperatives that now shape decision-making across the fashion value chain.
Meanwhile, growing importance of sustainability in fashion retail is reflected in IMAGES Group’s decision to host the IFF Innovators Club conclave at its flagship event, India Fashion Forum 2026. The key theme of the conclave is Conscious & Committed: The Playbook for Responsible Fashion Creation — a purpose-driven platform that brings together global value-chain partners and innovations aimed at enhancing sustainability at the retail level. From responsible sourcing to cleaner production practices, CCS will foster multifaceted conversations at the intersection of fashion, ethics, climate action, and culture.
As the industry marks a milestone moment, it is also taking stock of where it stands and where it must go next. Innovation—across materials, manufacturing, retail technology, and business models—continues to redefine what is possible. Transparency, agility, and consumer-centricity have become as important as design and pricing. The fashion retailer of today must balance growth with responsibility, efficiency with experience, and global ambition with local relevance.
In this context, IMAGES Group – which is proudly celebrating 25 Years of India Fashion Forum in 2026 –continues its commitment to chronicling the evolution of fashion retail through the India Business of Fashion Report 2026.
India Business of Fashion Report 2026 is more than a book—it is a high-impact platform that sparks ideas, shapes conversations, and drives innovation across the fashion retail ecosystem. This latest edition reflects on the industry’s journey over the past quarter-century while offering insights into the forces that will define its future. Through expert perspectives, research-driven analysis, and real-world case studies, the report captures the complexities, opportunities, and strategic shifts shaping fashion retail today.
The book goes beyond print to serve as a powerful platform for insight, innovation, and industry-wide dialogue, serving as a catalyst for forward-looking ideas and strategic thinking in fashion retail.
At its core, this book is a thought leadership platform that influences how the industry thinks, innovates, and evolves. It is both a reflection and a roadmap—celebrating how far the fashion retail industry has come, while challenging stakeholders to think boldly about what lies ahead. The next phase of growth will demand sharper strategies, deeper collaboration, and a clear understanding of the changing consumer and marketplace.
As fashion retail in India and globally enters its next chapter, the opportunity is clear: to build businesses that are not only profitable and scalable, but also relevant, resilient, and ready for the future.
