A paradigm shift in Fashion Industry is connecting the loose ends
How unpredictable can things get in the fashion industry supply chain? In 2019 India’s fashion and apparel industry was projected to grow to $59.3 billion by 2022. And then, the COVID19 pandemic struck. Now with the end of the pandemic in sight, the Indian fashion industry has bounced back better to reach revenues worth $87.6 billion in 2022 and is estimated to grow to $102.6 billion by 2026. What explains the roller coaster ride that the Indian fashion industry supply chain is on? Outlined below are some risks and the inherent opportunities in addressing them:
Demand Diversity Across Geographies, Cultures, and Time: Fashion choices can change depending on geography, culture, and time of the year. To elaborate, people in cool climates prefer jackets, coats, gloves, scarves, earmuffs, and warm undergarments.