Intimate Wear Industry to have continued growth of 15% CAGR for next 5 years
Intimate Wear Industry is the fastest growing segment
of Textile & Apparel Industry, reports IAAI
The
intimate apparel industry in India is thriving and is the fastest-growing
sector of the textile and apparel industry in India. The industry has an
estimated value of $245 billion and yet it is still kind of a closeted
industry. While intimate apparel industries across the world are given equal
priority as any other top fashion category, the intimate apparel industry in
India is highly unorganized and does not even have a proper road map going
forward. Industry stakeholders are hopeful that INTIMASIA is going to change
that. INTIMASIA is India's largest intimate apparel trade event that will be
held at the Adlux International Convention and Exhibition Centre in Ernakulam,
Kochi from 8-10 March. Yusuf Dohadwala, the CEO of the Intimate Apparel
Association of India (IAAI), says,
"All over India, there are
millions of fragmented retailers and brands with very limited regional
presence. With INTIMASIA, we hope to integrate the industry that will
facilitate the proliferation of international brands and designer labels in
intimate wear and thus revamp the lucrative industry."
Indian
Intimate Apparel Industry to Have Unprecedented Growth
The
intimate apparel industry in the country has been growing at a compound annual rate
of 15% for the last decade and this exponential growth trend is poised to
continue for the next five years. 66% of India's population, which roughly
translates to 850 million people, are under the age of 35 and are thus of the
working age. And these numbers will probably increase by 2030. So, the country
has a young labour force, which along with low labour costs, makes it an
attractive and remunerative destination for businesses that want to open or
build manufacturing units for finished goods and brands. Thus, India can become
a top-ranked name in the creation of labour-intensive commodities like textile
and clothing. The wage cost in India is very low compared to neighbouring
nations such as Sri Lanka, Indonesia, Thailand and China. And above all, India
can attract many businesses by virtue of its existing production facilities
that are present at every stage of the supply chain. And INTIMASIA, India's
largest intimate apparel trade event ever, is all set to give the industry a
huge impetus.
INTIMASIA
Set to Kickstart a Revolution
INTIMASIA
is the first of its kind event that will be an eclectic mix of exhibitions,
talk shows, seminars, workshops, fashion shows, gala dinner, focus group
discussions. It will bring all the industry stakeholders together and provide
them with a unique platform for constant industry interaction that is set to
revolutionize the industry. The industry will add a much-needed dose of glamour
to the booming industry, all the while keeping it commercially viable for the
participants. Industry experts hope that the event will lead to the Indian
intimate apparel witnessing a fashion revolution that will facilitate lingerie
retail. So, anyone, who wants to be a part of the intimate apparel industry
while it is on this phenomenal upward growth curve, must become a part of this
event.
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