RattanIndia Enterprises entered the quickly expanding apparel fashion market by establishing Neobrands as a wholly-owned subsidiary.
According to a release by RattanIndia Enterprises, Neobrands will be a collection of brands in a variety of fashion categories, including casual wear, denim, athleisure, and performance clothing.
All of these brands will be sold direct-to-consumers through e-commerce channels in the initial phase.
Anjali Rattan, the chairwoman of RattanIndia Enterprises Company, stated that the company has been working closely over the past year to introduce its own direct-to-consumer fashion brands in a variety of 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,” she said.
The fashion e-commerce market size is currently estimated to be Rs 80,000 crore and growing at a healthy rate of 30 per cent per annum, RattanIndia said.
“The fashion e-commerce market is expected to grow to Rs 2,50,000 crore per annum over the next five years. This growth is being led by a smartphone-enabled digital native young population,” Anjali Rattan added.
