INDIAN TEXTILES VS. LUXURY BRANDS

-Siddiqa Fatima

LUXURY MARKET CHALLENGES-

In the times of the corona outbreak, the luxury market faces many uncertain challenges that may change the prospects for 2020 from the predicted normal period into something quite abnormal. Growing uncertainty & rising turmoil about how the crisis will affect the high-earning consumers. Moreover, many luxury brands are facing competition from lower-priced brands that may offer comparable quality without the high price tag.

Nowadays, digital or social media marketing may drive sales, but it intimidates luxury brand wholeness. Traditional luxury brands stay away from e-Commerce because of the quality of the sales environment & pricing.

In addition to this, it is necessary to maintain a balance between consistency & uniqueness as both are important to the customer while delivering a personalized luxury experience. If the experience is not consistent with that promised online and offered in other stores, it will damage the customer’s sense of the brand’s identity & loyalty. However, if the sales advisor does nothing more than rigidly stick to the sales manual, the experience will be dull.

TEXTILE MINISTER’S TAKE

“It is time for the industry to introspect. The textile & fashion industry had been looking for packages or supports. Now it is time for a new direction and new thinking. The industry has the capability. If they reorient themselves, they would not require to depend”.

MADE FOR INDIA

The Indian authorities are eager to promote handloom & Indian fashion brands by investing in them. Primarily, brands can merge with existing e-commerce platforms. This is most suitable for players with low brand & startups brands.

Secondly, brands that have little local knowledge are also looking to compete with the market. Finally, brands that have significant local knowledge and capital resources can create fully owned and operated stores.

WOMEN ENTREPRENEURS

Let`s take a glance at how fashion designer Rina Singh went global with Indian textiles. She has her brand named EKA and has worked with international brands like Uniqlo, she has made tremendous efforts to make Indian Textiles noted globally as well.

In the recent Lakme Fashion Week Summer Resort 2020, models sported Indian kurtas from designer Rina Singh’s label EKA.

CONCLUSION

The objective is to throw light on major urban centers, reflecting demographic trends, the rising spending power of urban consumers, and improving infrastructure in those areas.

To be precise, the Indian market offers great promise. Despite structural challenges that include inequality, infrastructure, and market fragmentation, we expect that strong economic growth, the scale will lead to make the country the next big global opportunity in fashion and apparel.