McKinsey report highlights India's fashion market poised for rapid growth, driven by an expanding middle class.

McKinsey & Company's report highlights India as a major growth area for fashion brands, expected to grow by 12-17% in the mid-market segment by 2025. This shift is driven by India's expanding middle class, government incentives, and economic growth, positioning India as the world's third-largest consumer market by 2027. The report also notes a 50% projected growth in ultra-high-net-worth individuals by 2028, signaling opportunities in both luxury and non-luxury fashion segments.

November 17, 2024
8 Articles

Further Reading