Rakesh Lakhanpal, director, Switcher Quality Textiles

The Indian consumer is a price conscious consumer. A large portion of the demand for readymade garments comes from the middle class. And this segment of the market is certainly not driven by the brandname alone. Or at least not by a brand that commands a very high prices. This is probably why almost every brand in the country has come out with products that cater to this burgeoning segment of the market. Moreover, there is some saturation in the urban markets, and brands are moving into the semi-urban cities, where price sensitivity is very strong. A number of international and domestic brands are present in the country that are in the premium segment, with prices starting from Rs 2,000 per garment, which could be a shirt, a top, a trouser, etc. How many in India could afford this. The Indian consumer still wants value for money. What may have changed is that the availability of such brand has made people want to buy at least one product that it may offer. But consumers from this segment would buy just one or two such garments. Premium brands cater to a very niche segment of the market, which constitutes probably one per cent of the market. Besides, the market for these brands will be only in the metros, and not in the B class cities. There is a lot of brand awareness in the market today, but not many consumers would want to buy a tee costing Rs 2000. They would still prefer to buy something that is not more than Rs 450. Most of the domestic shirt brands in the market are also doing very well in the medium priced segments, it is that segment which is driving sales, and not their high priced garments. I do not see this scenario changing in the near future, even with changing lifestyles and incomes.

K N Iyer, CEO, Piramyd

Definitely, brand consciousness is on the rise in the Indian market, which is why there are so many brands available in the country today, and most of them are doing very well. There is a section of the market that is price conscious, but largely this section is also brand conscious and brand aware, and would not mind spending a few rupees more to buy a good branded apparel. Quality consciosness is also on the rise among Indian consumers. Price is not the only deciding factor anymore, though it may still be an important factor. However, it is still the middle and upper middle segments, with prices ranging from Rs 400-1000, that are the fastest moving in the Indian market.

And most brands have realized the need to be present across all price segments. That is why we are seeing Arvind offering some brands that are priced at Rs 300 or so, others that range from Rs 500-800, and still more that are in the premium segment. This holds true for almost every branded apparel manufacturer in the country. I believe that while there are so many brands in the Indian market, the depth is still missing. While in men's shirts, some brands are doing a lot of innovative styling, and using a variety of fabrics, etc, women'swear is still an unexplored segment. Today, we have a lot of casual wear for women, and a bit of corporate wear. What about eveningwear? There aren't many brands offering good western eveningwear for women. Even in casual and corporate wear, the choices are limited to just jeans, tees, pants, blouses. Where are the other dresses in these two segments? Companies need to address the lacunae in these markets and they will find that the market for readymade apparel will grow much faster.