Apart from being the fastest-growing economies in the world, India is one of the biggest consumer markets too. Increasing purchasing power has fueled the desire among the Indian middle class to look good and has resulted in the fashion retail industry to grow tremendously.
Safe to say, the Indian fashion retail industry is no more at its nascent stage. It is evolving, facilitating businesses to offer cutting edge technology and innovative products for the consumers. As brands are revamping shopping experiences for their customers, retail has become much more than just a medium to bring a product to the target market.
The retail sector, especially when it comes to fashion, enjoys many benefits, including strong customer rapport, greater sales potential, and high-profit margins. The Indian market is ripe for fashion retail businesses at the moment. Since consumers are willing to experiment and spend money on fashion items, new brands are emerging, and existing market leaders are also growing at a steady pace.
Top 5 Fashion Retail Franchise Businesses In India
- FabIndia Franchise
- Levi Strauss & Co Franchise
- Enamor Franchise
- Lenskart Franchise
- Pantaloons Franchise
If you want to venture into the fashion retail industry, that too without taking any significant risk, getting into franchising could be a beneficial proposition. Take a look at the top five fashion retail businesses in India:
- Operating since: 1960
- Number of outlets in India: 290+
- Space required: 1500-2000 sq. ft. (approximately)
- Investment required: INR 40 Lacs – INR 60 Lacs (approximately)
FabIndia does not need an introduction as the company is a leading sustainable fashion brand in India. The brand, which plans to open over 100 new stores across India in 2020, is one of the largest platforms that give Indian artisans the livelihood and respect they deserve. Apart from being a socially aware fashion retail brand, FabIndia also produces other lifestyle products that expand its customer base. The brand has created an excellent loyalty among Indian consumers, especially among consumers who prefer Indian textiles over fast-fashion.
Levi Strauss & Co Franchise
- Operating since: 1853
- Number of outlets in India: 350+
- Space required: 1000 – 5000 sq. ft. (approximately)
- Investment required: INR 50 Lac – 1 Cr. (approximately)
Levi Strauss & Co offers jeans, casualwear, jackets & accessories for both men and women. The unisex brand, which is a legend in itself, has been continuously innovating ever since its inception in 1853. The brand takes a lot of pride in its product offering, as it creates them sustainable and ethically. The company has already built a strong presence in India and is known as a go-to brand for many. Since the love for denim jeans is not dying anytime soon; the brand is expected to grow in the future.
- Operating since: 2003
- Number of outlets in India: 27
- Space required: 500 – 750 Sq.ft (approximately)
- Investment required: INR 20 Lakhs – 30 Lakhs (approximately)
Increasing exposure to more fashion products is driving more consumers to experiment with newer styles. Even though the lingerie sector is quite unsaturated and Indian consumers still shy away from it, Enamor is doing quite well. In shopping malls and high upmarket areas, the brand is all set to expand in the future with a focus on Delhi, Bengaluru, and Mumbai.
- Operating since: 2010
- Number of outlets in India: 500+
- Space required: 300 – 500 sq. ft. (approximately)
- Investment required: INR 20 Lac – 30 Lac (approximately)
With about 30% profit margin, and quick break-even, Lenskart has become one of the most sought-after franchises in India. Lenskart stands for great quality and trendy eyewear at affordable prices, making each product great value-for-money. It sells over 5000+ styles of eyewear and gives a global store experience to its customers. The brand also provides all types of support grievance management to its franchises while also helping with staff training and marketing support.
- Operating since: 1997
- Number of outlets in India: 1000+
- Space required: 8,000-sq ft (minimum)
- Investment required: INR 1 Crore (minimum)
Pantaloons earned over ₹21.56 crore as profits, which was 285% higher than at the same time the previous year. The brand currently is looking for expansion all over Western, Southern, Northern, Eastern, Central India parts of India. Pantaloons sell well-established customer favourite brands as well as its in-house ones which gives it a greater possibility to make a sale. Customers can also find accessories and cosmetics in the store.
The new decade opens new avenues for the fashion retail industry, and franchising will bring stable growth. Along with fast-fashion that can be customised and personalised, the trend of fashion sustainability will also grow; which makes it the perfect opportunity for franchises to grow. Having said this, brands and retailers who are going to spend a larger share of revenue in making their back-end strong to understand customer convenience, needs, and the current fashion and market trends, will champion the growth story.
Brands today have to be more consumer-focused, not only in terms of offers, geography, or age, but also their products and experiences. Sustainability, as we all know, will be a US$ 12 trillion economy by 2030. It means that growth should be repeatable, ethical, responsible for current and future generations. This is also the golden key for the long-term success of any business. To know more about franchise business opportunities in India, please get in touch with us.