What are the factors that make the Uniform and Sportswear segments an attractive proposition? Well, for any industry segment to do well, we need to look at how the trends have evolved till the present day scenario and the prospects going forward as well. Both, Uniform and Sportswear have unique demand drivers and will continue to be extremely relevant going forward as well.
For the corporate sector, uniforms are an excellent business marketing tool and can they fulfil multiple goals including staff bonding, identifying the brand and immediate recall. From logos on t-shirts to monogrammed shirts paired with trousers in distinctive colours and role-specific uniforms, there is immense scope for these across businesses as diverse as catering and hospitality to retail, healthcare and pharma covering the entire gamut including services, technical and maintenance staff.
India has the lowest median age across larger / key developed and emerging countries of world at 26 years, as per a recent report by Wazir Advisors. These younger consumers are indulgent and are well travelled, brand conscious and well connected. They have higher spending power and are open to experiment and explore. They expect high quality products and service standards from consumer brands.
This growth is expected to be driven by factors such as more purchasing power driving growth in primary discretionary spends, better access and availability of products, acute brand consciousness, increasing urbanization and increasing digitization. T-shirts are considered as one of the most comfortable and dynamic categories of western wear. Due to its soft knit fabric, fits, and the versatile use, it is highly acceptable to a wide segment of customers.
Athleisure is another growing segment which is growing faster and there is an opportunity for brands to enter this segment. The athleisure trend has really caught up over the last decade as there has been a growing health and fitness related awareness among Indian consumer, especially the young consumers who have taken up different fitness activities such as yoga, running, etc. This has resulted in an increased spending by consumers on purchase of appropriate gear for such activities thus resulting in a significant growth of the segment.