India has emerged as one of the world’s fastest-growing fashion markets over the past few years. It is projected to grow at 15 percent CAGR till 2022 and become a $102 billion market for apparel, as per a recent report.
Mobile phone-focussed marketing will influence seven out of ten fashion accessory purchases in India in 2022, creating a $110 billion sales opportunity by then, according to a recent report by Facebook and KPMG.
The professional service company KPMG’s latest India report predicts that seven out of ten fashion purchases in 2022 will be influenced by mobile phone use and almost half of these will be driven by Facebook.
Kitex Garments will invest ₹200 crore each in 2 of its new wholly owned subsidiary companies. These two facilities will help to increase the manufacturing capacities of the company to meet rising future demand.
China’s Fosun International won the bidding war for Lanvin against the Qataris this month for reasons that have little to do with money, creative vision or strategy for France’s oldest fashion maison, four sources said.