April 17, 2024
Event

1,120 Apparel Brands Will Be Showcased At NGF 2024 Exhibition

1,120 apparel brands across women’s wear, men’s wear, kids wear and accessories will be showcased at NGF 2024 exhibition to be held at the Bombay Exhibition NESCO Complex from January 29-31, 2024.

The 78th edition of NGF 2024 exhibition is being organised by the Clothing Manufacturers Association of India (CMAI).

“NGF is the most eagerly awaited show as it serves as a platform for connecting national and regional brands with retailers, agents, distributors, and e-commerce companies,” CMAI said in a press release.

The exhibition is widely regarded as India’s foremost trade fair, offering a comprehensive sourcing platform that maximises both time and cost efficiency for all stakeholders.

The apparel industry has encountered a challenging year, with significant consumer purchasing trends inclined towards categories outside of apparel,” Rajesh Masand, President, CMAI said.

“The forthcoming bookings made during NGF 2024 will serve as a key indicator for the outlook of the segment over the next six months,” Masand added.

“This edition of NGF covers an approximate area 700,000 sq. feet across seven halls and anticipates a significant turnout of trade visitors from all over India,” Rohit Munjal, Vice President, CMAI also said.

“Retailers continue to maintain a substantial inventory, and we are optimistic that the ongoing end of season sale (EOSS) will facilitate the clearance of this surplus stock, leading to a restoration of bookings to normal levels,” Rahul Mehta, Chief Mentor at CMAI stated.

“Nonetheless, it is anticipated that 2024 will be a stabilising period, with no substantial upswing expected in apparel sales during this year,” Mehta too added.

According to CMAI, the size of the Indian apparel market is estimated to be Rs. 6.80 lakh crores, and has grown by between 15-20 percent in fiscal 2024.

“This growth has been led by distributor network expansions and new store openings, however the same store growth has not been substantial,” the trade body added.

CMAI has over 4,000 members and serves more than 20,000 retailers and its membership consists of manufacturers, exporters, brands, and ancillary industry.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *