Fashion is a statement that one makes through their apparel and the way they dress. Ethnic wears are the indigenous apparels that have lost their market scope in the early days of globalization in competing for the modern-day man/woman is now back with a broader area of business opportunities. Thus, the young entrepreneurs interested in fashion and want to start an ethnic wear clothing brand are the best times. The best part about creating an ethnic wear brand is that it requires modest investment and can provide an optimal result.
Why is this a great idea?
India is a land of excellent textile heritage that possesses the talent to weave the most delicate fabrics and design indigenous apparel with a global appeal. The availability of skilled and cheap labor, the quality of materials at the disposal of investors, and the artisans’ craftsmanship in abundance make the apparel business an attractive investment for any young entrepreneur with maximum returns investment. Any exuberant investor with a passion for fashion and love for ethnic wear would assume that he/she will handle the manufacturing and retails. If one wants to tap into the retail market only, they will have to search for a wholesale market that proffers them quality control with a viable price range.
Not just Indian anymore!
When the established brands like BIBA, FabIndia, and W entered the ethnic wear market and started a crossover of Indian and western dressing, the ethnic wear reached a broader market and had greater fashion appeal than those purely Indian have not stood the test of time. The modern-day woman goes to the office, shops in supermarkets, and wear jeans; in these cases, the Kurti is the ethnic wear that is so malleable and comfortable that it goes with any other clothing that can be imagined. This provides the market of ethnic wear brands ample space to tap into and make products that appeal to all women across the aisle of the supermarket or the office they are standing in.
Apart from these established brands that have opened up a new market tapping into millennials’ psyche, new ethnic wear brands are also growing and gaining a foothold in the market. These new brands are quirky and fun in a fashionable sense. So, there is a space for you too!
Where the opportunity lies?
Indian ethnic wear provides and extra oomph factor that places ethnic dresses at a pedestal in a market dominated by rough and tough clothing. The place of ethnic wear apart from the elegance and poise that it offers is due to the extraordinary celebrations celebrated in our country and the grand wedding market that our country provides. The ethnic wear market, or the occasional wear as one might call it in a greater sense, stands tall around 35,000 crores, primarily dominated by the established brands Manyavar and Meena bazaar.
The market is significant, and the players are few, so to a young mind, it is the best opportunity that will present itself in a country where the craftsmanship of apparel making is in abundance and cheap. Thus, to gain a maximum customer base, the entrepreneur must offer standard quality at a reasonable price with a wide range of options. This helps provide an extraordinary shopping experience to the customers and lure them back whenever they think of ethnic wear. This process would require extreme hard-work, investments which would not yield result instantly but slowly and, manage the workers, and retailing with greater efficacy.
Investment
An ethnic wear store must provide a shopping experience where customers would walk through the wide range of designs and fabrics and feel through all of the apparel on display until they find the one they are looking for. Thus, it needs to have more space, i.e., in the range of 1000-2,500 square feet. Ideally, there is a wide range of products that need to be put; ergo, the investment lies in the field of 80 lacs to 1.5 crores. The selection of the place where the store must be open is also of utmost importance, as the cities with a higher retail market and more lavish lifestyles are the picture-perfect markets for such stores.
Reaching the audience and building a brand
The new-age customer base relies heavily on the visibility of the brand; thus, social media handles and advertising and promotions play an important role in looking out for the businesses. Once the branding is done correctly, then the store experience and the product’s quality would sustain the business. Thus these social media brandings and tagging would be the first spark in looking out for a potential customer base.
We hope this blog post would have opened up the possibilities of a new business avenue and clarified many misconceptions if you had the thought of opening up an ethnic apparel store.
Karan Makan
Technology Engineer and Entrepreneur. Currently working with International Brands and helping them scale their products Globally through different ventures. He owns Multiple Food Brands and is on a continuous spree to acquire many more businesses in the coming years. With over 10 years of experience and strong background in Brand Acquisition, Karan Makan is soon poised to be a Brand in the coming years.
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