RattanIndia Enterprises launches Neobrands apparel fashion brands
Indian conglomerate RattanIndia Enterprises has launched a direct-to-consumer apparel fashion brands business in its fully-owned subsidiary Neobrands Limited.
Neobrands is a collection of fashion brands in a variety of categories, including everyday fashion denims, jeans, athleisure, as well as performance clothing categories.
The brands have a goal of getting into India’s fast-growing clothing and fashion market and are designed to provide stylish, high-quality clothing to young people at reasonable prices.
According to RattanIndia Enterprises, the market for fashion e-commerce is estimated to be approximately INR 80,000 crores, and it is growing at a rate of around 30% annually. The fashion e-commerce market is predicted to reach the amount of INR 2,50,000 crores per year in the next five years and is driven by smartphone-enabled young people who are digital natives.
Anjali Nashier Rattan — RattanIndia Enterprises Business Chairperson said: “Retail has been one of the cornerstones of RattanIndia Enterprises Ltd.’s path towards its new age India scale businesses. We have been working closely over the past one year to launch our direct to consumer fashion brands across multiple categories.
“The fashion industry in India is witnessing a remarkable growth trajectory, with a huge demand for trendy and premium quality brands. Our brands across multiple categories, are poised to capture this market opportunity by offering fashionable, yet affordable clothing options for men and women.”