A paradigm shift in Fashion Industry is connecting the loose ends
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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.