The Indian menswear market is one of the fastest growing segments in the apparel industry. It’s valued at US $ 30 billion in 2023 and is projected to reach US $ 34.50 billion in 2027.
Previously, the men’s fashion domain was primarily shaped by established brands affiliated with leading fashion houses. Arvind Limited’s USPA, Arrow NY and Flying Machine; Aditya Birla Fashion and Retail Ltd.’s Louis Philippe, Allen Solly and Van Heusen are a few such examples while Raymond held sway over both formal and casual attire. Denim brands like Wrangler, Levi’s, Pepe Jeans, Lee, Spykar and Diesel have also carved a niche for themselves in the Indian market.
However, the landscape has transformed with the emergence of brands like Kaapus, Bombay Shirt Company, Nicobar, Rare Rabbit, Urban Monkey, Andamen, Doodlage, Son Of A Noble and more. These brands have revolutionised the scene by introducing resortwear, incorporating floral prints, personalised apparel and gender-neutral silhouettes. Social media has played a pivotal role in expanding the horizons of men’s fashion, with many brands leveraging this trend. The potential within this subset of menswear has been further affirmed by reports of Tata Capital looking to purchase a roughly 13 per cent stake in premium domestic fashion brand Rare Rabbit at a valuation of US $ 300 million.
The new-generation brands have experienced rapid growth in terms of funding, revenue and omnichannel expansion. For instance, Shark Tank-fame D2C brand Snitch has raised Rs 110 crore in a funding round led by SWC Global and IvyCap Ventures. Men’s innerwear and lifestyle brand XYXX has raised Rs 110 crore (US $ 13.5 million) in fresh funding led by Amazon Smbhav Venture Fund. Fashion and lifestyle start-up Absolute Brands and Retail raised US $ 2.5 million (approximately Rs.21 crore) in a seed round of funding. Virgio, founded by former Myntra Chief Executive Amar Nagaram, secured US $ 35 million within a few months of its inception, reaching a valuation of nearly US $ 160 million. DaMENSCH, a premium men’s lifestyle brand, has raised US $ 16.4 million (Rs 122.5 crore) in a Series B fundraising led by A91 Partners. Gen Z fashion discovery start-up Stumbl has raised US $ 1.6 million.
| “Men seek variety beyond the routine five shirts they often rotate. Today, men are more adventurous and explorative in their fashion choices.” Chetan Siyal Founding Member and CMO, Snitch |
There’s also been a rise in loungewear labels such as Bonkers Corner and Burger Bae, catering to their audience by focusing on gender-neutral clothing. Alongside, brands like BEWAKOOF®, The Souled Store and Zudio have entered the Indian market, presenting styles and designs that particularly resonate with millennials and Gen Z men.
Uniqlo, with its 13 stores in India, has established itself in the segment with its basic LifeWear collections, broadening the array of options available to consumers. Meanwhile, brands such as Zara, H&M and Marks and Spencer are enhancing their omnichannel presence to extend their reach even further.
Reasons for growth
Men have been prioritising their appearance for quite some time now, leading to expanded wardrobe choices. While established brands consistently perform well, the rise of e-commerce and social media has resulted in the explosion of numerous start-ups. Each of these start-ups boast a unique USP, whether it’s sustainability, streetwear, casual style, unique patterns and beyond. This shift has notably reduced costs, eliminating the need for physical retail space expenses and lowering advertising expenses through targeted approaches on various social media platforms. “The rise in disposable income, the advent of social media and increased exposure to global fashion trends has highlighted fashion consciousness among Indian men,” said Ravi Gupta, Creative Director of menswear brand Gargee Designer’s.
| “Presently, men aspire to stand on equal ground when it comes to their appearance and how they are perceived as an individual personality.” Sartaj Singh Mehta Senior Director of Design and Product at Pepe Jeans |
Experts predict that there will be a lot of brands which will surface across the country, including in Tier-2 and Tier-3 cities catering to affordable and distinct fashion for Gen Z customers.
As per Chetan Siyal, Founding Member and CMO, Snitch, “Men seek variety beyond the routine five shirts they often rotate. Today, men are more adventurous and explorative in their fashion choices.”
Giving his two cents on the rise of menswear, Sartaj Singh Mehta, Senior Director of Design and Product at Pepe Jeans, remarked, “Men desire to express their individuality distinctly, moving away from being perceived as a mere component of a larger family where women is the leading fashionista, leaving men in a more simplistic attire behind them. Presently, men aspire to stand on equal ground when it comes to their appearance and how they are perceived as an individual personality.”
Tier-2, Tier-3 cities and Indian fashion
The growth in fashion within Tier-2 cities is fuelled by the expansion of organised retail and the emergence of shopping malls. According to a Technopak study, there has been 35 per cent increase in the number of shopping malls in these cities over the last three years. This growth in modern retail spaces has provided an excellent opportunity for fashion brands to deeply penetrate these markets.
“The ongoing financial year witnessed the inauguration of 69 exclusive retail stores across 20 states, reinforcing our commitment to penetrate deeper into Tier-2 and Tier-3 cities. Currently present over 250 cities, our journey to provide a futuristic retail experience continues. Looking ahead, we are poised to aggressively expand, targeting a revenue of Rs 1,000 crore in the coming years. With plans to invest around Rs.25-30 crore and opening 85 outlets in 2023, our journey continues into Tier-2, Tier-3, Tier-4 towns,” said Deepak Bansal, Director, Cantabil Retail India Ltd., which reached a significant milestone with the inauguration of its 500th store in Ayodhya recently.
Furthermore, in a move towards international outreach, the company entered global markets with the introduction of its First Exclusive Brand Outlet (EBO) in Nepal.
Simultaneously, e-commerce has played a pivotal role in connecting fashion brands with consumers in Tier-2 cities. The rise of online shopping platforms, coupled with increased smartphone and internet accessibility, has granted fashion-conscious men in these cities access to a diverse range of trendy clothing and accessories. As per a report by RedSeer Consulting, the online fashion market in Tier-2 cities was expected to achieve a market value of US $ 7 billion to US $ 9 billion by 2023.
In fact the fashion choices of consumers in Tier-2 cities are rapidly evolving. Although traditional Indian attire remains appealing, there’s a notable surge in the demand for Westernwear, fusion, fashion and contemporary styles. This change in tastes has fostered a flourishing market for designers and brands.
“The men in Tier-2 and Tier-3 cities are more open to trying new fashion. The hesitancy is not there,” said Himanshu Ratnakar, Assistant General Manager, Sales and Marketing, Woodland, which sells latest in fashion, shoes, jackets, T-shirts, boots and outdoor equipment.
Fashion events are booming in Tier-2 cities, spotlighting local talent and offering a stage for emerging designers. Fashion weeks and exhibitions have emerged as significant highlights in these cities, drawing attention from local and national audiences. This rise in fashion-centric events has significantly driven the growth of the fashion industry in Tier-2 cities.
| “The rise in disposable income, the advent of social media and increased exposure to global fashion trends has highlighted fashion consciousness among Indian men.” Ravi Gupta Creative Director of menswear brand Gargee Designer’s |
The rise of custom-fit clothing
Recently, India’s menswear industry has shifted gears from off-the-rack fashion to personalised clothing. The demand for custom-fit apparel is surging as more men, accustomed to high-end or luxury readymade clothes, seek perfectly tailored shirts and pants.
Luxury labels like Armani, Canali, Versace, Zegna and Cadini, along with premium brands such as Louis Philippe and Raymond, offer made-to-measure services in India. Additionally, upscale ventures like Creyate by Arvind Group are now tapping into this rising demand for tailored clothing amongst Indian men. Even Raymond, as part of its omnichannel approach, allows customers to customise clothing online with a made-to-measure fit. The fabric and fashion retailer has a dedicated website for its tailoring service that allows customers to follow a streamlined four-step process to order personalised clothing.
This trend signals a significant market expansion opportunity, with a resurgence in custom-fit fashion and increased competition anticipated in the coming years.
Pragati Srivastava, Brand Head of Park Avenue, Parx and Accessories, emphasised the advantage of specialising in a specific niche for long-term customer loyalty. She highlighted, “Raymond’s legacy in fabrics has empowered us to concentrate on menswear extensively. Brands with a strong foothold in menswear can capitalise on customer loyalty and referrals, cementing their market position. India’s expansive and evolving menswear market caters to diverse clothing needs across occasions and preferences.”
| “Over the past few years, there’s been a significant rise in casualwear. The lines between formalwear and casualwear are blurring, making clothes suitable for various occasions, from parties to workplaces.” Bidyut Bhanjdeo Chief Business Officer, Ethnix by Raymond |
Future trends and growth areas
“For future, our focus revolves around seasonless fashion,” stated Chetan adding, “While the men’s category often adheres to seasonal collections like summer, winter, autumn or spring, our goal is to introduce versatile apparel suitable for year-round wear. Winterwear, for instance, isn’t restricted to heavy garments for specific months; our designs will be adaptable for use throughout the year. The focus will be on utilising lighter, skin-friendly fabrics, enabling these clothes to transcend seasonal limitations.”
Bidyut Bhanjdeo, Chief Business Officer, Ethnix by Raymond, highlighted a broader trend in menswear stating, “Over the past few years, there’s been a significant rise in casualwear. Apart from bankers, most corporate environments now embrace semi-casual attire or even denim in the office. The lines between formalwear and casualwear are blurring, making clothes suitable for various occasions, from parties to workplaces.”
“People now buy clothing specifically for occasions,” Bhanjdeo continued. “Whether it’s a holiday, beach outing, or even an airport look emphasising travel comfort, clothing choices are increasingly driven by the occasion. The prominence of athleisure is due to people’s focus on fitness and comfort-driven attire. Similarly, Indian ethnicwear is gaining popularity for celebratory events.”
