Valued at an impressive $1.79 trillion, the global apparel industry remains a dynamic and highly competitive force in the global economy. In 2024, the sector witnessed the emergence of numerous fast fashion leaders and athleisure pioneers—each redefining success in today’s marketplace. By 2025, India is poised to establish itself as a global powerhouse in fashion. Fast fashion, characterized by the rapid production of trendy and affordable clothing, has gained significant traction in India. With over half the population under 25 years old, the country’s youth demographic plays a crucial role in driving demand. This surge is further fueled by the growing influence of social media, the globalization of fashion trends, and increased access to international brands.
This article delves into the year’s leading fast fashion brands, analyzing their performance over the past year. According to the Fast Fashion Industry Report 2024 published by Wright Research & Capital Pvt Ltd, three industry giants—Tata, Reliance, and Aditya Birla—are spearheading India’s shift from unorganized to organized retail. These companies are not just adapting to changes but also setting new benchmarks in the industry.
Fast fashion was the standout sector in FY24, achieving an impressive 30-40% growth rate. In contrast, the broader Indian fashion industry grew by a modest 6% year on year. This disparity underscores the strong demand for affordable yet stylish clothing options. Fast fashion brands, known for their agility, are capable of producing over 50 collections annually, compared to the traditional model of just 2-3 collections per year. While the Indian fast fashion market is currently valued at $10 billion, it remains relatively smaller than global giants, some of which are three times larger. However, this market is projected to grow exponentially, reaching an estimated $50 billion by FY31.
Among the key players, Trent Ltd., a subsidiary of the Tata Group, stands out for its innovative approach. Known for creative store formats, trend-setting merchandise, and a strong focus on customer experience, Trent is redefining retail in India. In 2018, Westside accounted for 96% of Trent's standalone revenue, while Zudio contributed just 2.2%. By FY23, Westside’s share had dropped to 52%, with Zudio contributing 48% of the total revenue. This shift reflects Trent’s strategic move to bridge the gap between consumer demand for affordable fashion and existing market offerings, leading to the launch of Zudio. The brand focuses on delivering quality clothing at economical prices, effectively targeting a cost-conscious yet style-savvy audience.
Franchising: Driving Growth in the Fast Fashion Industry
The fast fashion sector has outpaced conventional apparel categories, driven by brands producing over 50 collections annually—a stark contrast to the 3-4 seasonal launches typical of traditional labels. Brands like Trent’s Zudio, Yousta, Max, and others are experiencing remarkable growth through the franchise model, which has become a key driver of their success.
Discussing the industry’s exponential growth and future potential, Venkatesalu, Managing Director of Trent, stated, “The Indian consuming class is growing. Yet relatively, we see aspirations far outpacing affordability, a trend that will accelerate in 2025 and beyond. Consumers are increasingly aware of and aspire to globally trending lifestyle and fashion choices. Given the inflationary context, value propositions at every price point will become even more critical at scale.”
According to recent reports, in addition to Zudio, Reliance Retail’s Yousta is also rapidly expanding via the franchise model. The company’s plan to launch 1,000 Yousta stores within the next two years signifies a major push to capture a significant share of India’s booming value fashion market. Yousta’s ambitious growth strategy not only raises the stakes in this competitive landscape but also underscores the immense potential of this thriving segment.
