The Market :
Considered as still underdeveloped and emerging till the recent past, the swimwear market in the country has started pacing with the considerable growth rate of 20 percent every year to the tune of Rs 450 to 500 cr. Considerably in the last one year the swimwear market in the country have moved much beyond its conventional confinements. The major indicators like infrastructure development and consumer awareness have been showing significant improvements noticeably.
More importantly widely neglected yet glamorising swimwear is gaining momentum along with becoming necessity in clubs, restaurants, hotels, beaches and plush housing complexes with the centre places for swimming activities. Also technology driven infrastructure development with latest facilities across the range of cities encouraging swimming as a sports which is inversely bringing in demand for innovative swimwear starting from Rs 500 to Rs 15,500. Rs 800 to Rs 2000 belongs to the Popular range, Rs 2000 to Rs 4500 are mid-premium and the above Rs 4500 are classified as the premium one, between Rs 200 to 800 as the economy range.
Consumer Preferences :
“A bit consumer behaviour has changed in terms of adaptability along with increase in numbers of consumers. Developing infrastructure, flourishing tourism, rising number of clubs, big complexes and the surging spending power of the people even in small towns have been supporting the demand. People have money for luxuries. This overall development contributing around 20-25 percent growing to the swimwear category. Indian swimwear market could be of Rs 400cr and the total market including of international brands and smuggled products could be of Rs 1000cr”, emphasized Mr Nand Badlani, Chairman, Enkay Swimwear, the largest brand in the domestic market.
“Yes the market is growing with small brands entering in. It is growing by 20-25 percent despite cheap Chinese brands spoiling the game badly. Even many Indian brands are sourcing from China market, so it is turning out to be a grey market. the positive factor is that the consumer is becoming adaptive and health conscious. Swimming is good for the patients with spine cord problem as suggested by doctors. Fashion element has been glamorising functional swimwear its functional becoming fashion wear”, acknowledged Mr Jawahar Jain, CEO, Mitushi.
Thus flourishing with demographic dividend, the swimwear market in the country is mainly driven by young generation which is prompting the international as well as domestic swimwear manufacturers to capitalize upon fashion oriented swimwear products.
Still the large chunk of the demand is dominated by the gents and the kids category.
“Its a fantastic and superbly good market of swimwear market in India driven by young generation which is more fashion oriented. This generation is more fashion and trend conscious and enthusiastic about swimming.
Hailing from big cities to small towns this is a well travelled generation which demands glamorised yet quality products. Thus we offer all kinds of swimwear for all types of needs. These products ranging from Rs 2850-Rs 15500 are made from imported lycra from Europe. The Indian manufacturers should be more futuristic with their offerings of products”, emphasized Mr Ajay Rajpal, Managing Director, Mezzluna.