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Updated: November 26, 2009 23:13 IST

Indian fashion retail to reach $535 bn by 2013: Report

IANS
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INDIA CONFIDENT ON THE RAMP: Actress Neha Dhupia in designer Kavita Bhartia's creation during the Wills Lifestyle India Fashion Week. Fahion retail is on a high and India's franchise segment is growing at 38 percent annually. File photo
The Hindu INDIA CONFIDENT ON THE RAMP: Actress Neha Dhupia in designer Kavita Bhartia's creation during the Wills Lifestyle India Fashion Week. Fahion retail is on a high and India's franchise segment is growing at 38 percent annually. File photo

Ploughing through recession trends, India's fashion franchise segment is growing at 38 percent annually, says a report on fashion and lifestyle franchises released here Thursday.

"With anticipated $30 billion fresh investment over the next five years, modern retail will show impressive compound annual growth rate of 40 percent," said the Fashion and Lifestyle Franchise Report 2009-10.

"With this growth rate, the market is expected to reach $535 billion by 2013," added the report compiled by Franchise India Holding Ltd, a franchise solutions provider.

"The growth of organised retail will be driven by the franchise model in future," said company president Gaurav Marya while releasing the report at the two-day Franchise India summit on retail trade that began here on Thursday.

"In fact, that is the reason that many big companies going into retail mode are adopting it," Mr. Marya said, adding that he expected business deals worth Rs.150 crore would be struck at the summit.

About 250 firms including 30 foreign brands are participating.

The market size, currently valued at $7.2 billion, is expected to reach $20 billion by 2013, the report said. There are 1,200 active franchise concepts and over 110,000 franchisees in India, it added, and identified apparel retail, education and food leading the pack.

"The $25-billion apparel retail industry is one of the most franchised concepts," the report said.

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