The men’s fashion scene is currently buzzing with the trio of ‘band, baja, and sherwani’. Over the past three years, sales of traditional wedding attire for men, particularly sherwanis, have surged by 25%. This escalating demand is fueling intense competition in the wedding wear sector, prompting established names like Aditya Birla Fashion, Vedant Fashions, and Raymond to ramp up their offerings significantly.
Ashish Mukul, brand head at Tasva, highlighted the significant rise of sherwanis, constituting over a quarter of total sales. “Tasva’s business has doubled in the past year, with the ‘angrakha’ silhouette gaining notable traction among customers, fueling this growth trend,” said Mukul. He attributed this success to extensive retail expansion nationwide and the introduction of diverse designs tailored to meet consumer preferences.
In the past two years, Aditya Birla Fashion, marketing Tasva, and Raymond’s Ethnix have collectively opened approximately 183 stores. Vedant Fashions, better known as Manyavar, accounted for about 94 of these stores. Projections from I-Sec indicate that these two brands are expected to add around 300 more stores over the next two years.
Continue Exploring: Ethnic wear brand Kalki charts course for global expansion & personalized tailoring
The listing success of Vedant Fashions has intensified competition in the wedding-wear segment among other branded players, as stated in the report. Aditya Birla Fashion launched Tasva in partnership with fashion designer Tarun Tahiliani in FY22, and Raymond introduced Ethnix in FY19, but began scaling up aggressively from FY22 onwards.
Vedant Modi, Chief Revenue Officer at Vedant Fashions, mirrors a comparable pattern. “Over the past three years, sales of men’s wedding attire, including sherwanis, have surged by around 20-25%, signifying a growing demand. This trend highlights the substantial impact weddings have on boosting sales of ethnic wear. The rise in sales remains consistent across all categories of wedding garments, demonstrating robust market performance and consumer enthusiasm for our products.”
“The upscale segment of wedding attire is witnessing significant expansion, propelled by the aspirational essence of weddings. Customers are gravitating towards top-tier products for memorable occasions, fueling strong growth in our luxury brand, Twamev.”
In FY2023, the Indian men’s apparel market was valued at over INR 2.2 lakh crore, exhibiting a nearly 10% compound annual growth rate (CAGR) from FY2015-2020. However, the pandemic led to a contraction of 3.6% from FY2020-2022. Nevertheless, a robust recovery is evident, with projections indicating a CAGR of 18% over the next four years, according to consulting firm Technopak. Ethnic wear constitutes approximately 6% of the total men’s wear market and is anticipated to experience a CAGR of nearly 20% over the next four years.
Continue Exploring: Ethnic menswear brand Tasva makes debut in Kolkata
The apparel market is experiencing significant growth due to factors such as the expanding middle class, increased discretionary spending, and evolving consumer demographics. Notably, the premium segment, particularly sherwanis, is seeing substantial expansion.
Industry experts note that customers are now more discerning and knowledgeable about Indian attire, placing a strong emphasis on meaningful designs and prioritizing comfort alongside luxury. As a result, brands have successfully tapped into this growing market by making high-quality designs more accessible to a broader audience.
Additionally, among ethnic apparel, kurtas and kurta sets rank as some of the most popular items. Factors such as bolstering the network and introducing new and competitive offerings contribute to this growth. Physical stores continue to dominate as the primary sales channel, accounting for roughly 90% of the market.
Continue Exploring: Bootstrapped ethnic fashion brand Libas surpasses INR 500 Crore revenue milestone in FY24; eyes 60-70% growth and seeks first round of funding
