Several foreign companies, including Taiwanese firm Tung Ling Industries and German multi brand retailer Prowl, are planning to enter the Indian kidswear market due to the increasing demand for children’s clothing in the country.
According to a recent study on Indian kidswear market conducted by the United Business Media (UBM) India, a leading global business media company, in collaboration with RNCOS, a leading industry research and consultancy firm, the domestic kidswear sector is currently estimated to be around Rs. 45 billion and it is expected to grow at around 18 percent annually during 2011-15.
Speaking to fibre2fashion, managing director of UBM India, Mr. Joji George said, “Several foreign companies are entering into the Indian kidswear market and major factors to boost the growth of this segment are rising media exposure to brands, high-disposable income and growing fashion and brand consciousness of kids.”
According to him, Indian market is ever growing and the real might of Indian economy is its rising middle class. "Young and exposed Indian parents want to make the very best of global brands available for their children and they are getting more and more quality-oriented, this is the reason for quality-oriented brands to make their way in the Indian market,” he mentions.
Mr. Deepak Agrawal, director of Little Feet Inc, says, “Presently the market size of the domestic kidswear is Rs. 380 billion and it is likely to grow to Rs. 800 billion by 2015 mainly due to the continuous rise in monthly per capita expenditure of urban population in India.”
Foreseeing the increasing demand for kidswear market in India, Taiwanese firm Tung Ling Industries has signed a Memorandum of Understanding (MoU) with the Chennai-based Little Feet Inc to manufacture and distribute the company’s kids brand Piyo Piyo in India.
