The fashion sector is one of the largest industries in the world, estimated to be worth more than $3 trillion by the end of the decade. India’s apparel market alone is worth $59.3 billion in 2023, making it the sixth-largest in the world.
With the pandemic, the industry, long known for art rather than science, is undergoing a dramatic technology-driven transformation. To build momentum around conventional stores, Indian retailers and brands are constantly innovating: retailers are leveraging technology to enhance the in-store experience and change the way customers make decisions.
Today, the Indian fashion industry is growing faster than ever but along with growth, the fashion retail sector also faces challenges such as price pressure from discounters, market disruption from online players, and increased price transparency for shoppers.
Therefore, fashion companies sensing the opportunity to generate more revenue sources and business models are partnering with technology providers, acquiring start-ups, and even building their own technology.
In the inaugural edition of Fashion and Apparel Innovation Summit 2023 – A Fashion Business Conference from ET Retail, speakers from top fashion, accessories and apparel companies will come together to engage in a physical exchange of ideas on navigating new horizons for the fashion business in India, a one-on-one meet, and direct access to the exclusive sessions on-ground.