How big is the market for apparel accessories in India?
According to EY estimates, the total accessories market (including apparel and non-apparel accessories) in 2008 was estimated at Rs 140-150 billion. It forms about 11-12% of the total apparel market (Rs 1,300 billion appoximately). The key markets to watch out for are branded jewellery, growing at a compound annual growth rate (CAGR) of 43%, soft luggage (at 40% CAGR) and time wear (at 30% CAGR). How is accessory as a segment growing in comparison to apparels? The apparel accessories segment is growing 14-15% per annum and the non-apparel accessories segment is growing 17-18% per annum. The share of apparel accessories in the total accessories segment is 10%, while non-apparel accessories constitute 90%. Are margins better in accessories than in apparel? Indeed they are. Industrywide, it is believed that accessories are an easy sale and offer better margins compared to apparel. In comparison to apparel, accessories bring 10-15% higher gross margin. While, gross margin for apparel range
