India's fashion industry is enjoying a colossal surge in growth. With India's diverse consumer base and increasing disposable income, demand for fashion and luxury products has soared.
The fashion industry in India, valued at $9.90 billion in 2023, is projected to reach $28.84 billion by 2030, demonstrating a remarkable compound annual growth rate (CAGR) of 16.5%. This growth potential presents a promising landscape for entrepreneurs and fashion enthusiasts.
So, if you want to dive into this industry, here's some inspiration. Stick with us as we explore the top fashion brands in India in 2024, providing a detailed analysis of their key statistics.
Let's dive in!
Top 10 Fashion Brands in India
- H&M
H&M is another leading brand in India, famous for its fast fashion and extensive product range. Its ability to offer trendy clothing at affordable prices has made H&M highly appealing to the large population of price-conscious yet fashion-forward Indian consumers.
- Market share: Although specific figures aren't available, it's widely believed that H&M enjoys the largest market share in India's fast fashion sector.
- Revenue: H&M's sales in India reached Rs 2960 crore during the financial year 2022-23, a 40% increase from the previous year.
- Stores: 62
- Zara
Zara has successfully targeted India's more affluent and aspirational consumer segments, allowing Zara to position itself as a luxury brand that appeals to customers seeking quality and status; consequently, Zara has captured a significant market share.
- Revenue: Zara's sales in India increased by over 40% in the financial year 2022-23, and profit was up 77.66%% to Rs 264.30
- Number of Products: Although this information wasn't available, Zara in India churns out over 10,000 designs in a single season!
- Stores: 23
- Adidas
Indian consumers are increasingly aware of the importance of an active lifestyle for healthy living, which has driven demand for quality sportswear and athletic gear, which Adidas specializes in.
- Revenue: This has grown almost 2.5 times, from Rs 945.1 crore in 2021 to Rs 2,578.1 crore in 2023.
- Stores: 760 franchise retail stores
- Other facts: Adidas is the official sponsor and kit partner of the Indian cricket team, giving it immense brand visibility.
- Levi’s
The iconic American denim brand Levi's has made it into the top 5 fashion brands in India. Levi’s is immensely popular for its jeans, casual wear, and denim jackets for men and women.
- Revenue: In 2022, Levi reported a 58% year-on-year increase in net sales in the Indian market to total Rs 1,154 crore
- Stores: 381
- Other facts: India is now Levi's sixth-largest global market and the largest market in Asia
- FabIndia
Fabindia is best known for its sustainable and handcrafted ethnic wear, using traditional Indian fabrics, weaves, and techniques.
- Revenue: Rs 1,392 crore in 2022, a 29% boost in revenue compared to the previous fiscal year.
- Number of Products: The company's website currently lists 1,370 women's clothing and accessories products on sale
- Stores: 357
- BIBA
BIBA was one of the first brands to introduce readymade churidar kurtas and salwar kameez sets in the late 1980s when such garments were unheard of. This established BIBA as a trendsetter in the Indian ethnic wear market.
- Revenue: In 2023, BIBA's annual revenue was over INR 500 crore
- Stores: 180 exclusive brand outlets
- Other facts: BIBA's online store BIBA.in generated an estimated eCommerce net sales revenue of around $18 million in 2023
- Allen Solly
Allen Solly's affordable pricing, mass-market trends, and high-end variants are a few of the many reasons why it’s earned its place as one of the top luxury fashion brands in India.
- Revenue: Allen Solly's parent company, Aditya Birla, generated an annual revenue of ₹2,874.76 crore in 2022.
- Stores: 281
- Other facts: Allen Solly has 470K followers on Instagram
- W for Woman
W pioneered the concept of 'Indian contemporary' wear, transforming traditional Indian silhouettes to cater to the evolving fashion sensibilities of Indian women seeking fusion wear that blends Indian roots with global trends.
- Revenue: ₹740 crore - ₹3,700 crore
- Stores: 400+ worldwide
- Other facts: W for Woman has 520K followers on Instagram
- Gajra Gang
Gajra Gang is one of the top online fashion brands in India. It caters to the growing demand for fusion wear that combines traditional Indian elements with modern silhouettes and designs. This appeals to the younger generation seeking a blend of cultural roots and contemporary fashions.
- Revenue: INR 100 crore - 500 crore
- Number of products: 725 items
- Other statistics: Gajra Gang has 36.1K Instagram followers
- Madame
Madame was one of the first Indian brands to offer Western-style women's clothing. Its pioneering spirit and focus on quality helped establish Madame as a widely recognized brand in India, earning it a spot in our top ten fashion brands in India.
- Revenue: Madame is forecast to turnover of Rs 470 crore in the fiscal year 2023-24, up from Rs 370 crore in the previous year, reflecting a 27% revenue jump
- Stores: 600 multi-brand stores and 150 exclusive branded stores.
- Other statistics: 2.5 million women visit its stores each week.
Other Notable Mentions
In addition to the above, several other brands contribute significantly to India's fashion landscape. We don't have the space to go into too much detail. Still, for context, we'll list below some of the top fashion accessories brands in India and top fashion jewelry brands in India.
Top Fashion Accessories Brands
Titan
- Market Share: 3.2% market share in India's organized jewelry market.
- Revenue: 382 billion Indian rupees (2023)
Fossil
- Market Share: Fossil became the number one wearable watch brand in India in Q2 2019, with a 34% category share
- Revenue: Over INR 500 cr (2022)
Top Fashion Jewellery Brands
Tanishq
- Market Share: As of 2021, Tanishq holds a 40% market share of the organized jewelry sector
- Revenue: ₹31,897 crore
CaratLane
- Valuation: Rs.17,000 crore
- Revenue: ₹2,177 crore
