Men constitute 82 percent of the shirt market in India so far followed by kids at 12 percent and remaining by women’s shirts market
Shirts have so far been associated with men but are gradually finding favour with women. A coffee table report by Shirtopedia 2019 suggests shirts market for women in India had a compounded growth rate of 11 percent versus 5 percent for men's shirts.
As per the report released on Day 1 of India Fashion Forum 2019, men constitute 82 percent of the shirt market in India so far followed by children at 12 percent and remaining by women’s shirts market.
“Shirts, which were earlier pre-dominantly owned by men are now witnessing huge demand from women as well. Increasing participation of women in the workforce and their change in demand and preferences are key factors driving demand for shirts among women,” said Amit Gugnani, Senior Vice-President – fashion (Textile & Apparel), Technopak – a management consulting firm.
Change in women’s taste and preferences has already created demand for both formal and casual shirts in metro and Tier-I cities, and is expected to see a boost in the non-metros, Gugnani said.
Indian shirts market is expected to grow at a compounded annual growth rate of 6 percent to Rs 81,578 crore by 2027 from an estimated market size of Rs 44,830 crore in 2017.
Value segment between Rs 801-2,500 is the major contributor in the men’s shirt segment by constituting 52 percent of the market.
Mid-segment has 40 percent followed by premium or luxury at 8 percent.
In the denim market segment, shirts are becoming a popular category among the youth but hold 1 percent of the total market size at Rs 448 crore.
