{"id":316604,"date":"2023-09-06T11:41:31","date_gmt":"2023-09-06T11:41:31","guid":{"rendered":"https:\/\/popularindinews.com\/?p=316604"},"modified":"2023-09-06T11:41:31","modified_gmt":"2023-09-06T11:41:31","slug":"digital-disruptor-brands-likely-to-reach-10-billion-by-fy28","status":"publish","type":"post","link":"https:\/\/popularindinews.com\/india\/digital-disruptor-brands-likely-to-reach-10-billion-by-fy28\/","title":{"rendered":"Digital disruptor brands likely to reach $10 billion by FY28"},"content":{"rendered":"
Digital disruptor brands are projected to outpace the growth of the online fashion market.<\/p>\n
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With a 35 per cent compound annual growth rate, the market for these brands is expected to reach $10 billion by 2027-28 (FY28), up from $2.4 billion now.<\/p>\n
Consumer preference for experimenting with new brands and the innovation from digital-first brands are driving this trend, according to a report by Bain & Company and TMRW House of Brands, an Aditya Birla Group venture.<\/p>\n
The report, titled Digital Fashion Disruptors: Navigating the Future of Fashion<\/em>, also said the overall online fashion market is anticipated to grow approximately $35 billion by FY28, with digital disruptors capturing about 29 per cent of the market share.<\/p>\n Digital disruptor brands are those that begin by selling online.<\/p>\n Digital disruptor brands are creating a new fashion playbook.<\/p>\n They have achieved a 33 per cent growth rate in the last four years and are expected to increase their share of the overall fashion market, as Radhika Sridharan, a partner at Bain & Company, was quoted as saying in the report.<\/p>\n Generation Z (GenZ), exhibit a greater propensity to purchase these brands.<\/p>\n Certain historically fragmented sub-categories, such as ethnic wear and kids wear, are undergoing transformation with the growth and scaling of new digitally-led brands.<\/p>\n They are expected to see outsized growth in the next five years, she added.<\/p>\n