Women’s casual wear: Changing tastes boosts growth

With the upwardly mobile young Indian women opting for cool, smart casual wear, the segment has got a renewed boost. Sensing growth opportunity, global and domestic brands are stepping up their offerings to match rising demand. With the growing economic independence of

women, casual wear is becoming a preferred dressing option for women as it feels comfortable, is practical and even looks cool. Growing beyond the 16-26 years, the segment is now being preferred by women till their 40s.

Casual replaces typical Indian wear

With increasing number of women living a financially independent and carefree life where comfort and effectiveness top their priority, casual wear is quickly replacing the traditional sari and salwar kameez in a woman’s everyday wardrobe. “Moreover, casual wear is perceived as a cool way of dressing which gives women a younger look. Even mid aged women are now opting for smart casuals as they find it smart, cool and comfortable,” says Naresh N Varwani, Director, No Error Jeans.

The Rs 78,500 crores women’s wear market contributes 38 per cent to the total apparel market of India. The growth of this market is more rapid than men’s wear and is expected to grow at a CAGR of 9 per cent for the next five years to reach Rs 121,400 crores by 2017. The growing acceptance of western dressing is also resulting in the growth of casual wear segment including denim, which is now one of the high growth categories within women’s wear. According to RNCOS research denim is growing at CAGR of 17 per cent and tops/shirts/T-shirts at 11 per cent.

Going beyond the boundaries of urban markets in major metros, casual wear is picking up pace in mini metros, Tier II and III cities as well. Among casual wear denim is penetrating deeper and finding its customer base among young to middle aged women. Even working women in smaller cities have started accepting denim as everyday work wear.

Young India catalyst for change

The profile of the population in the median age is fuelling the demand or lifestyle and aspirational products, which includes casual wear. As RNCOS Research points out, by 2020, almost 35 per cent of the Indian population will be living in urban areas. This high urban population is expected to splurge on casual wear products and as a result, by 2020, there will be more than 70 million aspiring consumers who can afford to consume on par with consumers in the developed world. The population of Socio Economic Class A, in 2020, will exceed the current population of such large economies as UK, France, and Italy.

“We have been constantly innovating with our product range to match the changing preferences of young customers. We have incorporated a wide range of styles in terms of prints, fabrics and design. Nowadays the blue denim has given way to colourful, printed denims or jeggings. As per demand Lycra is also being used extensively. In fact, creativity and design is what matters in the market,” says Varwani.

Keeping up with the fashion trends, a leading casual wear brand Madame has launched a new collection inspired by zebra and tiger prints. Explaining the changing trend, Akhil Duggar Jain, Director, Madame says “Earlier five per cent of the total product portfolio consisted of dresses. In the last two or three years, the percentage share has increased to 35 per cent.”

The aspirational and young customers of top 20 cities have a higher propensity for casual fashion. However, experts point out that Tier II cities are going to drive a significant percentage of growth in the casual wear market. Realizing the potential of casual wear in these markets, many domestic brands/retailers have increased their presence in smaller cities.