April 24, 2023 | 23 2 minutes read
Neobrands will be a house of brands across multiple fashion categories including everyday fashion, denims, athleisure and performance wear categories. The brands are aimed at capturing the fast-growing fashion and apparel market in India. The brands are designed to offer young consumers stylish, premium-quality clothing at affordable prices.
Anjali Nashier Rattan, Business Chairperson RattanIndia Enterprises Ltd., launching Neobrands, said, “Retail has been one of the cornerstones of RattanIndia Enterprises Ltd.'s path towards its new age India scale businesses. We have been working closely over the past one year to launch our direct to consumer fashion brands across multiple categories. The fashion industry in India is witnessing a remarkable growth trajectory, with a huge demand for trendy and premium quality brands. Our brands across multiple categories, are poised to capture this market opportunity by offering fashionable, yet affordable clothing options for men and women. We are committed to providing our customers with the latest fashion trends and an unparalleled shopping experience.”
She further added, “In the first phase all these brands will be digital native brands to be sold direct to customers through ecommerce platforms. Today's gen Z customers are digital natives who consume content, experience brands and shop digitally. There is a huge space for home grown premium yet affordable brands in the country for the brand conscious customers. Also, a digital led channel will help the company scale up the retail footprint of its brands across the length and breadth of the country.”
The fashion ecommerce market size is currently estimated to be Rs 80,000 Crore and growing at a healthy rate of 30 percent per annum. The fashion ecommerce market is expected to grow to Rs 2,50,000 Crore per annum over the next five year. This growth is being led by smart phone enabled digital native young population.