The casual wear market is growing rapidly in India. Its current size is estimated at $2.3 billion for the top 30 cities and is expected to grow at 18 per cent a year to $4.4 billion by 2015.
The men’s segment has the largest share (63 per cent) in the category.
The key growth drivers are: Rapidly growing youth and urban population; more people frequently wearing casual outfits to work; and manufacturing picking up pace with more large and improved units coming up.
Besides, the number of career women in the 20 to 40 years age group is estimated to grow four-fold to 45-50 million. This would result in significant growth for the category.
Casual wear brands in India see potential in all segments of the market — lower medium, medium and semi-premium/premium.
International brands like Tommy Hilfiger and Espirit have seen steady growth over the years. Others like Mustang, Calvin Klein and Guess are increasing their footprint. Mango, Zara and Marks & Spencer have introduced casual wear at the entry-level to attract first time consumers.
