The term ‘ethnic wear’ represents a variety of cultural and traditional clothing suited for men as well as women like salwar-kameez, lahenga-choli, kurta payjama.
In today’s world, everything from technology to fashion is changing at a very fast pace. The rate of change in terms of colour, combination, variety, pricing is very competitive in any given industry. Today’s customer is now much aware regarding their choices, the ongoing trends, the swing of the market; in simple words they have a fair amount of idea about what do they want? According to an estimate the ethnic wear market is about to grow by a hilarious 12 percent by 2018 from Rs.2, 50,000 crores to a direct double that is Rs.5, 00,000 crores. The ethnic wear, which now has become a brand in itself, has taken the clothing industry to a simply whole new level; all thanks to retailers and their efforts that this industry has got its required foundation: a strong one. Today, the tables have turned and entrepreneurs irrespective of their sizes who, if invests in ethnic wear have a considerable amount of scope in this industry. To sweeten the deal many well established brands like Manyavar are offering a good 30% return on investment to franchisees.
India being a secular and culturally and traditionally rich country having more festivals than any country in the world is a major reason for the growth of ethnic market in our country, offering a juicy deal for anyone who wants to and will invest in it; there is no doubt about it, whatsoever. Even a child will be able to sense that. From small to big cities, this market is hilariously growing at a rapid pace. Nowadays, even young people, that is, the youth of our country are preferring ethnic clothes on any given occasion; there are many by the way.
According to a Technopak study, which traditionally and largely caters to ethnic wear industry has shown good growth over in past years and is about to grow more by 8.4% in the next decade from Rs.61,679 crores. That is a huge amount. Well established brands like Manyavar and Juniper are planning for further expansions in metros, tier 1 and 2 cities through franchise route with Manyavar already having 386 outlets, which soon will increase by 600 more in the coming future with a million square foot of retail space which will include 100 flagship stores and 50 global stores. Manyavar being a men wear brand is seeing and contemplating about a huge scope which there is, in women’s line of clothing. Women who sometimes are the source of unwanted stress for men (mainly the husbands) are the main reason for the growth of this market with approximately 87% share in the market. That is splendid.
Mr. Ajay modi, director, Manyavar says ‘‘India has a young population and since the country celebrates festivities and weddings as grand occasions ethnic wear becomes a preferred choice’’
The growth of this market has led to flourishing of franchise ethnic wear market and when it comes to expansion Mr. Ajay Modi says ‘‘we give franchisees the opportunity to grow with Manyavar. They are being given best of return towards their investment. The franchisees are being full assistance in connection with merchandising of stock in stores, advertisement, brand awareness among customers and all the support in connection with staff training store maintenance Etc’’. Ethnic wear companies are expanding their brands aiming pan-india presence. They see excellent growth in aspects like supply and demand. On the whole, the concept of franchising has been a blockbuster among both the brands and investors because of the fact that brands get a good foot hold in the already competitive market strengthening their roots and to be on the way of becoming one of the top players nationally. And investors or franchisees can have their dreams come true by being at the side of well established brands saving all the hard work of starting from zero, from unknown to become known which can cost them a considerable amount of time and hard work.
Apart from this, there are many Apparel Franchise who offer franchise opportunities in India.