The men’s suits, jackets and blazers market in India is valued at Rs 4,100 crore, which is 8.9 per cent of the total men’s wear market in the country.
This market is growing at a CAGR of 16 per cent and is expected to reach Rs 7,400 crore by 2012.
In terms of volume, this market is 1.5 crore pieces, which is 1 per cent of the total men’s wear market. It is expected to grow to 2.1 crore pieces by 2012.
Premium suits, jackets and blazers are priced at an average of Rs 12,282. They contribute 1.3 per cent to the men’s suits, jackets and blazers market in terms of value, and 2.2 per cent in terms of volume.
Low-priced suits, jackets and blazers are priced at an average of Rs 1,252. They contribute 29.6 per cent to the men’s suits, jackets and blazers market in terms of value, and 57.2 per cent in terms of volume.
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