TMRW & Bain Release Report On Digital Fashion Disruptor Brands
TMRW, an Aditya Birla Group backed company, which manages garment brands like Bewakoof, JuneBerry, Nobero, Urbano, etc and, Bain & Company have released a report on ‘Digital Fashion Disruptors: Navigating the Future of Fashion’.
According to the report, digital disruptor brands are projected to outpace India’s online fashion market growth with 35 percent annual growth, to reach $10 billion by fiscal 2028 from its current size of $2.4 billion.
The overall online fashion market is expected to grow to approximately $35 billion by fiscal 2028 with the digital disruptor taking approximately 29 percent of the market share.
Shifting consumer preferences including increasing willingness to experiment with new brands, and the innovation from digital first brands are the factors driving this.
“Digital disruptor brands are creating a new fashion playbook. They have grown at 33 percent in the last four years, and expected to increase their share of the overall fashion market, said Radhika Sridharan, Partner, Bain & Company.
“Young customers, especially Gen Z, have a greater propensity to try and buy these brands. Digital disruptors are targeted under-served niches of the market, with brand values to speak to their customers’ needs, including confidence, fun and self expression,” she added.
Click here to read the whole report.