CMAI FAB Show 2023 Generates Rs 2000 Crores Business Showing Indian Apparel Industry Optimism 2023

Last week’s Fabrics, Accessories & Beyond Show 2023 (FAB Show 2023) by the Clothing Manufacturers Association of India (CMAI) generated Rs 2000 crores in business over three days. The CMAI FAB Show 2023 included the CMAI Vendor Sourcing Fair 2023.

The CMAI FAB Show 2023 attracted over 12,000 visitors, including 1500 top platinum buyers and brands like Amazon, Ajio, Anita Dongre, Bewakoof, D’Mart, Firstcry, Jack & Jones, Killer, Lifestyle, Max, Myntra, Mufti, Raymond, Nykaa, Pantaloons, Pepe Jeans, Pothys, Shoppers Stop, Siyaram’s, Soch Apparel, Spykar, V Mart, Westside, Zudio, and many

“The overall garment retail segment in India is estimated to be Rs. 8 lakh crore,” said CMAI President Rajesh Masand. The garment industry, which increased 18% last year, has seen a big consumer movement toward branded clothes with internet buying picking up. The apparel industry is optimistic about the impending festive and wedding season and expects strong growth for event wear this year.”

The CMAI FAB Show 2023 featured the world’s largest associations, BGMEA and BKMEA.

“Post-pandemic, industry growth has been moderate in pace with GDP growth. “Over the past two years, cotton yarn prices rose almost 50%, causing garment manufacturers and retailers to raise prices by 15-20%, which slowed demand in the unorganized sector, especially in tier-2 and tier-3 cities and towns,” Masand said.

“We are expecting a strong growth in the apparel segment, on the back of our key strategic pillar of Private Brands, National Brands and Store Expansions,” stated Venu Nair, Managing Director & CEO, Shoppers Stop Ltd. We anticipate a strong wedding and holiday season market. Holidays accompany festivities. Travel and vacation are other good reasons to buy an outfit.”

“Summer will be very promotional with growth driven by price and little volume,” said Pepe Jeans CEO Manish Kapoor. Mid-Q2 volume growth projected. Premiumization will drive 12-13% growth in premium denim. Sustainable and trendy items are also trending. We predict 15-18% increase throughout the festive.”

Bangladesh, China, Ethiopia, Hong Kong, Nepal, New Zealand, UAE, and UK were the biggest customers at the CMAI FAB Show 2023. Arvind mills, Grasim mills, Jindal mills, Bhagwan Textiles Mumbai, Disha Mumbai, Artex Bangalore, Gokul Tex Surat, Apple industries Surat, Sashwat Ahmedabad, and Bhavna processors Ahmedabad were top exhibitors.

CMAI promotes ESG practices and advises its members. To promote sustainability, CMAI created SU.RE in 2019.

The Clothing Manufacturers Association of India (CMAI) represents about 4000 apparel manufacturers and 20,000 retailers. Manufacturers, exporters, brands, and ancillary industry are members.

CMAI’s six-decade history has shaped the industry. CMAI founded AEPC in 1978. The Indian government authorizes CMAI to issue non-preferential Certificates of Origin to exporters.

The International Apparel Federation (IAF) in Netherlands recognizes only CMAI to represent the whole Indian apparel industry and trade.

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About the Author: Sanjh Vishwakarma

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