Please use this identifier to cite or link to this item: http://hdl.handle.net/11718/24668
Title: Disruption in fashion technology sector through emergence of insurgent players (start-ups)
Authors: Agarwal, Anshika
Shahi, Dishant
Keywords: FGDs and Pls;Consumer behaviour analysis;Start-ups
Issue Date: 2020
Publisher: Indian Institute of Management Ahmedabad
Abstract: The fashion tech sector has been the highest funded area in terms of Venture Capital and Debt funding in the last five years. The phenomenon can be attributed to emergence of small startup brands carving a niche for themselves while catering to rapidly evolving consumer needs. The overall fashion sector lies on the brink of disruption wherein the small niche brands are all set to erode market shares of existing multi segment fashion enterprises. In the last five years over 8,826 companies were founded in the fashion tech space, out of which 2839 have been able to amass over $ 21 billion in total funding. As an exit trend over 81 have released IPOs, while 417 have been acquired by global top brands. The highest funded business model amongst all has been B2C Commerce which contributes over 70% to the overall funding pool. Looking back a few decades the total fashion space was dominated by few multi-segment brands who held a monopoly over the market. Considering the case of India the fashion market was highly fragmented wherein several local players with sub-standard and inexpensive products held a wide sway over the National market. There was existence of few national and international brands but restricted to highly developed urban areas. There had been an era of family clothing wherein a single store catered to all family needs with usually single brand or small brand extensions of a large enterprise. The overall apparel demand especially in middle income categories was driven by seasonality, most of purchases used to take place during festivities or season change. Family shopping was a prevalent trend and an important household activity in 90s and early 2000s.
URI: http://hdl.handle.net/11718/24668
Appears in Collections:Student Projects

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