Men’s Ethnic Wedding Wear Sales Report 2024 – Wedding Sherwani Demand Increasing

The Indian wedding season is here and the Ethnic wear in the men’s category has been on the rise for some time now and now it is the talk of the town. Men’s ethnic wear can be of many different types as can be the female counterparts but especially sherwani has been in very high demand in the past three years or so and their cells have skyrocketed by 25% in the last three years. You can understand the impact this has on the market as it is very important to be updated about the men’s apparel industry which is definitely on the rise as of now.

Whenever there is a rise in demand for such an item then you can definitely expect competition to rise as well. That is exactly what has happened to the men’s ethnic wear industry with the rising demand for sherwani and other dresses that has increased the competition in the Wedding Wear segment. A lot of organized players like Aditya Birla Fashion and Vedant fashions and Raymond have also entered the market in a very aggressive stance and have started aggressive marketing for their products. The ethnic wear growth is something to study to know more about market dynamics.

In this article, let’s dive deep into a sales report of the men’s ethnic wear industry.

Sherwani : carrying the ethnic wear industry 

As you can already guess from the first two paragraphs Sherwani has become a standout category in the men’s ethnic wear industry and it alone stands for over a quarter sales of all garments in this segment. There are a lot of products and specific categories that have seen their sales skyrocket like Tasva and the Angarakha silhouette. Customer satisfaction plays a very important role in shaping our company and accounting for the success of the garments launched by it.  the growth in the market of ethnic wear in the men’s category has been affected by the customer satisfaction as brands with higher customer satisfaction can reach a higher ceiling and become very popular with the common people.

A detailed look into the market economics

If we look at graphs and statistics from the past financial years we can clearly see the dominance of physical stores where it has dominated over 90 percent of the total sales over any online platform. In the men’s ethnic wear sales report we can clearly see over 220k crore rupees of sales in the financial year 2023 which may double by the time financial year 27 hits the market. We can definitely keep going on this positive curve to follow the monumental development of the men’s ethnic wear market.

Factors contributing to the growth

• The rapid retail expansion has also played a very important role during the rise of the men’s ethnic wear industry and this expansion has occurred throughout the country. Differentiated designs custom tailored for the customers according to their preferences has become a game changer and has increased the number of customer influx in the industry altogether.
• Another factor that has affected it is the increasing awareness among the customers as they are highly informed about their culture and traditions and the Indian attire and culture. This has created a competitive environment for brands to come up with designs that put a greater emphasis and put forward meaningful designs that can hit the right spots with the consumers. It can help people to know about their past and traditions of the country with more importance given to comfort and luxury.

Tactics by brands to occupy the market

• Big market players and brands have started making their impact in the market and by several different tactics they have tried to leave an impression in the market by making excellent quality designs and making it more easily available to the common customers by bulk producing it.
• Despite online shopping gaining popularity among the youth and the middle-aged throughout the country,  people still choose to buy ethnic wear from physical offline stores which still remain the primary channel for the sale of men’s ethnic wear and it captures almost 90% of the market easily.

Best brands for ethnic wear and their financial forecasts 

• The most famous brands are Tasva and Raymond in India and thus wise owned by the Aditya Birla fashion and Raymond owns ethnix. In the past couple of years these both brands have opened over 180 stores combined and near about 90 stores by Vedant fashions which you may know popularly as the famous brand Manyavar. Statistics and estimates suggest that these brands will definitely open more than 300 stores combined in the near future and this industry is on the growing curve as of now.
• Brilliant success of maneuver has put up Vedant fashions at the top of the big market names and as a heavyweight in the fashion industry. Their rise to the top has increased the competition exponentially and other important players like Aditya birla fashion launched their own sub brand by collaborating with top fashion designers across the country in financial year 22. Raymond also introduced ethnics in financial year 19 and started aggressive scaling from financial year 22. This clearly signifies the impact of high competition that Manyavar brought into the market were these two were already the undisputed top players.

Financial report of the men’s ethnic wear industry

If we are considering the last two years then we have seen a whopping growth of 25% in the men’s ethnic wear industry which includes Sherwani which alone has grown by almost 20 to 25% which clearly shows a rise in demand for the product. As this dress plays a very important role in an Indian wedding it is definitely natural to see that demand grow and grow and it definitely elevates the mood of a wedding therefore it is a very important aspect in any wedding event. Nowadays even the premium segment in the wedding wear industry has been experiencing substantial growth as the big weddings have in increased in a lot of ways and customers are seeking higher quality products which also come with a higher price tag when they are spending for their wedding.

 For the current financial year 2023 the ethnic wear market size in India was worth over rupees 2.2 lakh crores and that is a 10% growth from financial year 2050 to 2020 and that is a great curve to be in. Although it is understandable that there was a three to 4% fall during financial year 2020 to 2022 because there was a global pandemic going on and offline weddings were not a thing. But after the pandemic has passed they destroy has made a staggering comeback and a strong recovery and estimates show and report that it will have an 18% growth for the next four years.

All statistics show that this is a growing industry and it is not going to change for some time. For now ethnic wear covers around 6% of the total men’s garments and it is expected to reach over 20% within the next four years by the ethnic wear forecast.

Reasons for such growth

One of the main reasons for seeing this growth is the improvement in the quality of the middle class which has always been expanding in India. This makes the consumer demographics very strong and the ethnic industry benefits massively from the middle class. Even the premium segment in Sherwani is have seen an exponential growth in the past few years and statistics show that it will remain the same for the next few years too.

Then sherwani remains the most popular ethnic fair while there are other options for men like kurtas and kurta sets which can also be used as a wedding wear but it is generally not preferred over a sherwani and sherwani continues to dominate the market with offline physical sales accounting for over 90% of the total sales.

Frequently asked questions 

• What i the market size of men’s clothing?

If we are considering the current data then the ethnic wear industry in the men’s clothing section in India is what over more than 2.2 lakh crore rupees which is a very big amount for one single industry to be worth. This shows the impact of this industry and the impact that it has been creating in the last few years.

• How much is the men’s clothing market covered in India?

The men’s clothing market contributes a lot of different subdivisions but one of the main garments is the wedding wear section where sherwani dominates over other products with having a share of more than 6%  share individually. Other dresses like kurtas and kurta sets can also play a very important role in the men’s ethnic wear industry.

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