2025年时尚报告

Investment Rating - The report indicates a positive sentiment towards the fashion market in India, particularly in the mid-market segment, which is expected to grow around 12 to 17 percent in 2025 [12][31]. Core Insights - India's fashion market is becoming increasingly significant, driven by a young, aspirational consumer base with rising incomes and a strong preference for both traditional and western wear [80][32]. - E-commerce platforms like Myntra are crucial for international brands to penetrate the Indian market, with Myntra attracting over 60 million monthly active users [80][68]. - The report highlights the importance of local partnerships for international brands to navigate India's diverse market landscape effectively [76][80]. Summary by Sections Industry Outlook - The fashion market is projected to experience low single-digit growth in 2025, reflecting a structural deceleration post-pandemic [134][132]. - Brands are expected to prioritize capturing market share amid economic uncertainty and shifting consumer preferences [107][118]. Consumer Shifts - There is a notable shift towards digitalization and online shopping, with only 12 percent of fashion purchases in India currently made online, indicating significant growth potential [68][80]. - Gen-Z consumers in India are increasingly trend-focused and engage more frequently in purchases compared to Millennials, with a purchase frequency 30 to 40 percent higher [73][80]. Technological Innovations - Myntra is leveraging AI for product discovery and curation, which has led to higher conversion rates and reduced return rates [57][58]. - The use of influencer-led content and social commerce is being emphasized to reach younger consumers, particularly in tier-two and tier-three cities [74][76]. Market Dynamics - The Indian government has invested approximately $2.5 billion in Production-Linked Incentives and quality control reforms, which may enhance production capabilities [7][31]. - Foreign direct investment in apparel manufacturing has increased significantly, with a threefold rise since 2019, indicating growing confidence in India's manufacturing potential [7][9].