Table Of Contents:
- What Is a Clothing Brand?
- Why Clothing Brand?
- Traditional Vs Fast Fashion?
- SNITCH – Case Study
- Three pillars of Zara’s success
- Top Reasons For The Success Of Snitch
- Conclusion
- Best Sources For You So You Don’t Waste Time:
What Is a Clothing Brand?
Clothing brands are companies that design, manufacture, and sell clothing and related products. They have their own distinct identity, style, and target market.
These brands offer a range of clothing items and accessories, emphasizing quality, craftsmanship, and unique design aesthetics.
Why Clothing Brand?
Starting a clothing brand is a great idea due to several reasons. It offers creative freedom, allowing you to design unique pieces that reflect your style. The ever-evolving fashion industry provides opportunities for innovation, setting your brand apart from others. While it requires an initial investment, it has the potential for profitability through effective branding and marketing.
Overall, it is a fulfilling endeavor for those passionate about fashion and creativity, although careful planning and market research are necessary for success.
- The online fashion retail market in India is estimated to grow by USD 22.97 billion from 2021 to 2026.
- The market is estimated to grow at a CAGR of 18.83%.
- Also, Fashion Apparel Category falls in the booming segments of e-commerce in today’s time and is here to stay for the future.
Traditional Vs Fast Fashion?
Zara:
The global fashion brand has achieved impressive growth in India’s fashion market. With a 40.42% year-on-year increase in revenue, reaching INR 2,562.50 crore, and a 77.66% rise in profit to INR 264.30 crore for FY23, Zara’s success in India is evident. The brand currently operates 21 stores in 11 cities across the country.
Zara entered the Indian market around 2010, establishing a strong foothold well before its competitor, H&M. The brand’s success can be attributed to its ability to capture the attention of Indian consumers with its fashion-forward offerings. Zara’s widespread retail presence allows it to cater to diverse fashion preferences and offer convenient shopping experiences.
Clothing brands are companies that design, manufacture, and sell clothing and related products. They have their own distinct identity, style, and target market.
The remarkable growth and profitability of Zara in India exemplify its understanding of the market and its ability to meet the demands of Indian consumers. Overall, Zara remains a prominent player in the Indian fashion industry, inspiring other brands and showcasing the vast potential of the Indian market.
Peter England
A renowned clothing brand has achieved substantial revenue ranging between INR 1000-1500 crore in India. Peter England has established a strong retail network with over 1000 exclusive stores, a presence in 3500+ multi-brand outlets, and availability in 800+ towns.
The brand’s association with the Aditya Birla Group, one of India’s largest conglomerates since 1997, has provided valuable support and resources for its growth.
Peter England has been growing at an impressive rate of 10-15% per year, reflecting its ability to adapt to market trends. Through a focus on quality craftsmanship, stylish designs, and affordable pricing, the brand has gained popularity among Indian consumers.
Also Peter England= 1500 CR/5000= INR 30 lakh vs revenue per store of Zara= 2500 CR/21= 120 CR/store
Here Fast Fashion wins > over Traditional
Shark tank approved – SNITCH
Indian Fastest Men’s Fashion Brand
Snitch is a Bangalore-based direct-to-consumer (D2C) fast fashion brand which was founded in 2018 by Dungarwal.
The brand aims to be India’s aspirational fashion brand, catering to the fashion-forward modern man.
They offer a diverse range of clothing items, including party wear, leisure wear, and formal dresses. Operating as a for-profit entity under the legal name 4M Clothing, LLP, Snitch has rapidly gained recognition in the Indian fashion industry.
In terms of sales, Snitch experienced remarkable growth in FY23, generating a revenue of Rs 120 crore, which represents a staggering 250% increase compared to the previous year’s revenue of Rs 44 crore. By the end of Q4 FY22, the brand has achieved an annual revenue run-rate (ARR) of Rs 100 crore, highlighting its consistent upward trajectory.
Snitch started its operations in India in January 2019 as a B2B startup, catering to business clients. However, recognizing the growth potential, the brand transitioned to the direct-to-consumer (D2C) model in 2020.
This strategic shift allowed Snitch to establish a direct connection with its target audience and drive its expansion and success in the market.
Overall, Snitch has made significant strides in a relatively short period. With its focus on delivering trendy and aspirational fashion for the modern man, coupled with its rapid revenue growth and transition to the D2C model, Snitch has solidified its position as a prominent player in the Indian fast fashion industry.
Three pillars of Zara’s success
Top fashion trends Affordable (premium quality) Fast to stores with limited stock
Zara, one of the most successful fashion brands worldwide, has established itself through three key pillars that contribute to its remarkable success.
These pillars can be described as follows: top fashion trends, affordability with premium quality, and fast turnover of limited stock.
Customers know they won’t find a design they like the next time they visit Zara. Hence they overspend in fear of missing out (FOMO)
The first pillar, “Top fashion trends,” is at the core of Zara’s business model. The brand continuously monitors and adapts to the latest fashion trends, ensuring that its collections reflect the ever-changing preferences of consumers. Zara’s ability to quickly identify and translate these trends into stylish, on-trend garments sets them apart in the fashion industry.
The second pillar, “Affordable (premium quality),” emphasizes Zara’s commitment to offering fashion-forward clothing with a focus on superior quality. Despite being considered a fast fashion brand, Zara prioritizes the use of high-quality materials and pays attention to the craftsmanship of their garments. This combination of affordability and premium quality allows customers to enjoy fashionable clothing without compromising on durability and style.
The third pillar, “Fast to stores with limited stock,” is a distinctive characteristic of Zara’s business strategy. The brand excels in its supply chain management, enabling them to bring new collections to stores at an impressive speed. Moreover, Zara deliberately limits the stock of each item, creating a sense of exclusivity and encouraging customers to make swift purchasing decisions.
These three pillars work in harmony to contribute to Zara’s success. By aligning with top fashion trends, offering affordable premium-quality products, and adopting a fast turnover model with limited stock, Zara creates a unique value proposition for its customers.
This approach allows Zara to maintain its relevance in the fashion industry, attract a broad customer base, and cultivate a sense of urgency and desirability around its brand and products.
Top Reasons For The Success Of Snitch
Innovation Sets Snitch Apart from Blindly Copying Zara in the Fast Fashion Industry.
Snitch, a rising player in the fast fashion industry, has distinguished itself by prioritizing innovation over blindly copying Zara’s strategies.
By leveraging unique approaches, Snitch has established a strong position in the market and gained recognition for its ability to stay ahead of the fashion curve:
- Top Fashion Trends:
Snitch keeps a keen eye on the latest fashion trends, ensuring that its offerings are always in line with the ever-changing preferences of its target market. By staying up-to-date with emerging styles and incorporating them into their collections, Snitch attracts fashion-forward individuals who seek the latest trends.
- Affordable Fashion:
Recognizing that affordability is a crucial factor for many consumers, Snitch focuses on providing trendy fashion at accessible price points. By prioritizing affordability over premium quality, Snitch caters to customers who are looking for stylish clothing without breaking the bank.
- Fast Turnaround and Limited Stock:
Snitch has adopted a strategy of quickly bringing fashion items from concept to stores. By streamlining its supply chain and optimizing manufacturing processes, Snitch ensures that new styles reach stores promptly, allowing customers to stay ahead of the fashion curve.
- Innovation in Men’s Fast Fashion:
While many fast fashion brands primarily target women, Snitch has recognized the potential in the men’s fast fashion category. By focusing on men’s fashion, Snitch effectively caters to the needs and preferences of style-conscious male customers, offering them a diverse range of trendy and affordable clothing options.
- Minimising Dead Stock:
Snitch adopts a proactive approach to reduce dead stock, which is a common challenge in the fast fashion industry. Through strategic B2B partnerships, Snitch can liquidate excess inventory, minimizing waste, and financial losses. This approach allows Snitch to maintain a lean list and operate with efficiency.
- Relove Platform for Repeat Customers:
In a bid to encourage repeat customers and foster a sustainable fashion ecosystem, Snitch has introduced a platform called Relove. Through Relove, customers can resell their gently used Snitch clothing at a discounted price, extending the life cycle of the garments and providing an affordable option for new customers.
Conclusion:
By prioritizing innovation, affordability, and customer-centric initiatives like Relove, Snitch has carved out a unique identity in the fast fashion industry. With its focus on staying on top of fashion trends, fast turnaround, and limited stock, Snitch attracts fashion-conscious individuals who seek stylish and affordable clothing options, all while minimizing waste and creating a sustainable fashion ecosystem.
The Indian e-commerce industry within it the clothing segment is booming at an alarming rate. Setting up a clothing brand and gaining profits has become very easy. I hope y’all have learned from the case studies and also a few new things, and ideations, for your clothing brand.
