The Hindu Business Line : `Fashion designers may expand market to Rs 2,000 cr'

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New Delhi Feb. 11 Fashion designers are likely to expand the market of their own labels to around Rs 2,000 crore by 2012 from the current level of approximately Rs 200 crore. This will be possible as consumers are developing a yearning for variety of local as well as overseas fashion products, according to the Associated Chambers of Commerce and Industry of India.

The overall turnover of the fashion industry both in retail and non-retail segment as of now is estimated between Rs 34,000 and Rs 35,000 crore in which the contribution of the apparel segment alone has already touched Rs 16,000 crore, estimates the Chamber.

In a paper by the Chamber on Potential for Fashion Industry, it has been pointed out that in the current Rs 200 crore size of fashion wears, the contribution of budding designers is just about Rs 20 crore, while the remaining contribution comes from established designers.

The paper reveals that in future the number of budding designers will increase manifold as a consequence of flourishing fashion institutes across the country.

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`Fashion designers may expand market to Rs 2,000 cr'