77th National Garment Fair by CMAI shows optimism for festive retail sales
By Retail4Growth Bureau | July 25, 2023
The 77th edition of the National Garment Fair in Mumbai, organised by the Clothing Manufacturers Association of India had more than 35,000 visitors comprising of national and regional retailers, and more than 1200 brands presenting a diverse range of Women's wear, Men's Wear, and Accessories.
The 77th edition of the National Garment Fair (NGF 2023) in Mumbai, organised by the Clothing Manufacturers Association of India (CMAI), had more than 35,000 visitors comprising of national and regional retailers, distributors, and wholesalers, informs their statement.
Spread across 8,00,000 sq.ft., the National Garment Fair 2023 (NGF 2023) saw participation of more than 1200 brands presenting a diverse range of Women's wear, Men's Wear, and Accessories at the Bombay Exhibition NESCO Complex in Goregaon East, and the Kids wear exhibition at the Jio World Convention Centre in BKC.
Speaking about the domestic garment industry, Rajesh Masand, President, Clothing Manufacturers Association of India (CMAI), said, “Since the start of the year, the garment industry has been grappling with a certain slowdown with a moderate growth of 5-6% in garment retail sales on average. Numerous brands and manufacturers have experienced a downturn of 10-15% compared to the previous year. Despite these challenges, there is optimism surrounding the forthcoming festive season, as the demand for apparel is anticipated to be robust.”
Speaking about the NGF 2023, Rohit Munjal, Vice President and Chairman of the Fair Committee, Clothing Manufacturers Association of India (CMAI) said, “The success of the 77th National Garment Fair is a promising sign for the apparel trade, indicating a positive outlook for the upcoming festive season. Notably, prominent retailers and distributors from the country were observed attending the fair, showing interest in exploring regional brands with the potential for nationwide growth. The continuous growth and strength of NGF can be attributed to the unwavering support and active participation of both brands and retailers. Their consistent involvement has been instrumental in making the fair increasingly influential and successful.”
Speaking about the present outlook of the domestic garment industry, Rahul Mehta, Chief Mentor, Clothing Manufacturers Association of India (CMAI), said, “The organized segment of the market is projected to encompass approximately 25-30% of the total share. Prominent brands like Shoppers Stop, Reliance Trends, Lifestyle, V-Mart, and others are actively extending their presence and swiftly expanding their footprints into Tier-2 and Tier-3 markets.”
