With a growing consumer confidence and festive season in full swing, lifestyle and clothing brands in India are witnessing a strong consumer demand and positive sentiments, after a slower first half of the year.
According to industry experts, the season promises a significant sales growth, as the focus shifts toward festive wear, wedding attire, and consumer shopping sprees across key categories.
Sharing his thoughts with ETRetail, Sunil Kataria, CEO of Raymond Lifestyle said, “The festive season has started on a positive note post the Shradh period, with a sharp increase in footfall across retail and wholesale channels. This momentum is expected to pick up in the run-up to Diwali.”
Echoing the optimism, Nitin Mohan, co-founder and director, Blackberrys, stated, “We are optimistic that our sales will meet our expectations to grow over 20% compared to last year. The demand for our suits, blazers, and Indo-Western wear remains strong, and we are excited to cater to this growing need.”
With similar growth expectations, Berry Singh, Co-founder & COO, ace turtle, the exclusive licensee of the global denim brand Wrangler in India, said, “We expect a solid revenue and business momentum uplift, projecting around 20% growth over last year. This period is always significant for apparel, and this year we’re seeing a growing demand for high-quality and personalized fashion.”
On the other hand, ethnic wear fashion label BIBA said it is expecting moderate growth this quarter but is optimistic about the long-term impact of the wedding season.
According to Shyam S Prasad, CEO of Brand Studio Lifestyle, “Consumer sentiment in the first 2 quarters has been average without any typical surges. But in Q3, we are seeing an upbeat sentiment with customers thronging stores and malls in large numbers, especially young consumers.”
Expressing confidence in consumer enthusiasm, particularly for tier 2 and 3 cities, Akash Agarwal, Whole-time Director of V2 Retail, said, “Consumer sentiment has been positive, with shoppers prioritizing quality and affordability while seeking trendy, value-for-money options.”
Brands prep up for wedding season
With over 48 lakh weddings expected to take place, the upcoming wedding season represents a significant revenue opportunity for many brands leading to a 39% increase in estimated expenditure year-on-year.
Post Diwali, the next 5 months have one of the highest ever weddings dates and this would fuel a sustained momentum for the lifestyle business. Kataria shared, “We have high indexation to weddings and we are already seeing the pre wedding bump up starting across our fabrics as well as apparel segments.”
While Mohan said, “We have 400 stores open and we aim to open another 30 stores in the upcoming quarter so we have a lot of work cut out for us over the next few months.” He emphasized the growing consumer interest in Blackberrys’ premium menswear range, which includes everything from festive attire to party-wear shirts and formal garments.
Libas’ founder and CEO Sidhant Keshwani, who expects a growth of 30-40% over last year said, “Consumer sentiment has improved significantly, with strong demand for traditional and ethnic wear during the festive and wedding season. We are launching over 100 new styles every week to cater to this demand.”
Highlighting how the brand is positioning itself for the wedding season, Siddharth Bindra, managing director of BIBA, shared, “With our ‘Wedding Edit’ collection, we are well-prepared to meet the growing demand for occasion wear, catering to the friends and family of the bride and groom, as well as bridal trousseaus.”
