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Set to be the worst hit sector by the COVID-19 pandemic, UK clothing & footwear spend is anticipated to plummet in 2020, falling 26.1 percent versus 2019, says GlobalData, a leading data and analytics company.
Chloe Collins, Senior Retail Analyst at GlobalData, comments: “As the government has extended the UK lockdown for at least three more weeks, we expect that offline clothing & footwear sales in 2020 will further contract, falling 33.6 percent on the year, as the demand for fashion is increasingly decimated. With other European countries, such as Austria and Italy, gradually loosening their restrictions and keeping most non-essential stores closed, we expect fashion stores in the UK to remain shuttered for a number of weeks once the lockdown is eventually lifted, and not begin reopening until June.”
While we predict that fashion stores will start to gradually reopen in June, footfall is expected to remain low as consumers will be cautious about visiting crowded areas, and prioritise catching up with family and friends that they have been unable to see during lockdown. Consumers will also prefer to spend time outside enjoying the summer weather rather than browsing retail stores, and will focus spend on experiences over fashion items.”
Collins continues: “We expect several retail casualties within the fashion sector in the coming weeks, with Debenhams, Oasis and Warehouse already entering administration, and Arcadia said to be considering more store closures. Therefore, more empty spaces are anticipated on the high street, limiting physical fashion spend further.”
In contrast to offline clothing & footwear sales, we expect online sales to fare better, only declining by 7.9 percent in 2020, however this will not be enough to offset the loss in spend from physical stores.”
Collins adds: “After initially closing on March 26, Next reopened its website last week, though at limited capacity due to enhanced safety measures, which has put pressure on other players with closed online operations to follow suit. Quiz, Fenwick and River Island have all resumed selling online again, and TK Maxx has made its website available for browsing only, though it should aim to restart warehouse operations as soon as possible so that it can take orders, as it has strong potential to drive sales of activewear during the lockdown.”
“Men usually opt for something subtle with sharp cuts and crisp detailing. Some of the men want intricate detailing on their garments with a burst of colours. While, some would opt for a quirkier look with different cuts. However, we at SS Homme customise it for customers according to their sensibilities,” shares Gonsalves.
The brand has been at the forefront of giving customers a lot of choice and options in the legwear segment under one roof. It offers consumers the widest variety of products, empowering women to choose and spruce up their wardrobe and experiment with new styles including Knitted Pants, Pencil Pants, Jeggings, Palazzos, Super Stretch Denims, and Culottes among the regular leggings.
Men’s Denim Segment: Men’s denim enjoys the largest share and is poised to grow at a high CAGR of 14 per cent over the next decade. Until a few years ago, denim was popular with men in the urban cities only, however, it has now gradually become popular in the semi-urban and rural markets also. Growing awareness and an increasing affinity for global fashion have led to this development. Denim is considered the most versatile fabric for men with multiple applications over casual wear, work wear and everyday wear.
The Spykar story started way back in 1992 when it was established as a MBO brand specialising in denims. Within a very short span of time, the brand’s fidelity to product quality and customer satisfaction entrenched it as a reputed western wear brand pivoted around denim. Gradually it expanded into the lifestyle space with additional focus on accessories. From a MBO based men’s denim brand to a multi channel lifestyle player with a pan India presence across all retail formats, Spykar has come a long way and today embodies the bold, the brash and the audacious.
Sting has a collection of semi formal and casuals. The current range includes chinos, khakis, corduroys, denims, checks, prints, cotton linen blends, slim fit shirts, wrinkle-frees, T-shirt club wear and many more exciting creations. Recently the brand has introduced a new range of premium sneakers which was inspired from the top notch sneaker brands and have been designed after a plenty of R&D.15ROCKSTAR JEANS
With an advantage of backward integration to design, develop and manufacture, the brand has paid great attention to product and its detailing. Its product proposition encapsulates all categories of apparel and provides a more holistic experience of the current international street styles. It includes tees, shirts, jackets, hoodies, sweatshirts, chinos, denims, shorts, belts, headgear, wallets, bags and footwear.14STING
Fashion and apparels retailer V2 Retail has set an aggressive expansion target of doubling its retail presence to 100 outlets by the end of the next fiscal.The value-focused retailer, which mostly has presence in Tier II and III cities, is also looking at achieving a compound annual growth rate of 40 percent for the next 2-3 years
“A sense of reliability works very strongly here, combined with the innumerable choices of fabrics, designs and details one can choose from. Occasions are the ideal opportunities for people to stand out in the crowd, so they become even more selective about their attire. Especially while choosing garments for weddings and festivals, Indians become very selective about colours, fabrics and styles. That shows an immediate effect on the demand for custom-made occasion-wear,” he adds.
“Fashion at Jack & Jones is constantly evolving as per the tastes and preferences of consumers. Being an international brand, trends at Jack & Jones are always on par with global standards. For SS-17, the brand offered an array of distinctively styled varsity, bomber and trucker jackets. Whereas for winter collection, focus is on functionality, and here the brand offers a range of highly durable parka and leather jackets,” he further explains.
Target Group: Focus Jeans aspires to dress up today’s women — both young and the young at heart. The target audience falls largely in the age group of 18- 36 years but the brand concentrates more on women aged 22- 32 years. They are both brand image and quality conscious, are in tune with the latest trends and seek good value for money.
With globalisation and ethnic blurring, the term ‘occasion’ has also gone far beyond the traditional festivities to encompass a wider range of events. “So even if it is not the wedding season or family celebrations, it is the white-tie and black-tie occasions, Sunday brunches, and vacations that encourage people to opt for new looks,” says Singh.
Myntra is also launching a special campaign for the first time in the category to promote the new collection, called, ‘Myntra Maxcessorise’, to be held from February 7-8. Led by digital and social mediums, the campaign aims to showcase the variety and beauty of the collection, available exclusively on Myntra. Leading brands such as Fossil, Daniel Wellington, Police and Tommy Hilfiger are partnering with Myntra for the promotion.