In the financial year 2024, India’s fast fashion segment grew by 30-40 per cent, significantly outpacing the overall apparel category’s modest 6 per cent growth. This remarkable expansion is driven by fast fashion companies releasing over 50 collections annually, continuously offering consumers the latest styles and designs.
Young men favour oversized T-shirts, graphic tees, printed shirts, and cargo pants, with co-ord sets and jackets predicted to be the next big trend. Meanwhile, Millennial and Gen Z women leaned towards dresses, co-ords, and wide-legged trousers, with shapewear on the horizon.
Kushal Bhatnagar, associate partner at Redseer Strategy Consultants, highlighted fast fashion as the industry’s growth lever. “Brands like Zara, H&M, and India’s homegrown Zudio have boosted this segment significantly,” he said. Online-first brands like Newme, Urbanic, and Snitch are also rapidly gaining traction.
Fast fashion’s growth is fueled by young consumers’ desire to experiment with new trends, particularly in social media. With 362 million Instagram users in India, mostly young, the demand for trendy, affordable clothing is skyrocketing.
Urbanic’s founding partner, Rahul Dayama, emphasised the importance of affordable fashion for Gen Z. “We use AI for predictive analysis to minimize wastage,” he said. Despite challenges like inventory management, fast fashion shows no signs of slowing down. As Dayama noted, “I haven’t met a young woman who has only one brand in her wardrobe.”
