From April 26 to 28, 2023, the Fabrics, Accessories & Beyond (FAB 2023) trade fair took place in Mumbai for the third time, with sales of around 20 billion rupees (around 220 million euros). The fair is organized twice a year by the Clothing Manufacturers Association of India (CMAI) and took place in parallel with the CMAI’s Vendor Sourcing Fair (VSF 2023).
More than 12,000 visitors came to the fair over the three days, including international buyers and representatives from brands such as Amazon, Anita Dongre, Jack & Jones, Killer, Lifestyle, Max, Myntra, Raymond, Nykaa, Pantaloons, Pepe Jeans, Shoppers Stop and Westside.
There were around 166 fabric manufacturers on the exhibitor side, including Arvind, Grasim Industries, Jindal Worldwide, Topman International and the School of Fashion Technology (SOFT). More than 30 exhibitors covered the part of the fair dedicated to accessories and others, and about 44 companies participated in the Vendor Sourcing Fair, which was held in a separate hall.
Strong competition
Despite full halls and an overall satisfactory participation, the number of visitors could have been better, but was influenced by a major competitive factor: As the Indian wedding season draws to a close before the start of the monsoon, many potential visitors decided to attend the event to do without and to wear festive clothes instead of a suit.
“The later trade fair, where more women’s fashion is also shown, will be more popular. The April show is more focused on menswear and competes with the wedding season,” one attendee, who asked to remain anonymous, told FashionUnited.
Manish Kapoor, CEO of Pepe Jeans, echoed this sentiment and expects the denim sector to pick up again once the Indian summer comes to an end in May/June: price and low volume growth. This is expected from the middle of the second quarter.”
Innovation, sustainability and tradition
While innovation and sustainability were at the forefront at many stands, showcased through the latest techniques and fabrics, it was also important to reflect on India’s roots and long textile history. Traditional dyeing arts were on display as well as the history and future of fashion.
“Consumers’ preference for sustainable and trendy products is also developing positively. We anticipate growth of 15 to 18 percent during the holiday season,” confirmed Kapoor.
Compared to the previous editions of the fair held in September 2022 and April 2021, the organizers decided to replace the smaller themed pavilions by region and fabric type in favor of a central hall. The relocation of the venue from the Jio World Convention Center in busy Bandra Kurla Complex to the Bombay Exhibition Center in Goregaon East also proved successful as visitors could use the recently expanded subway line to reach the venue.
Although it is an event primarily aimed at India’s homegrown clothing brands and regional markets, international buyers from Bangladesh, China, Ethiopia, Hong Kong, Nepal, New Zealand, United Arab Emirates and United Kingdom also attended, according to officials part. Also present at the opening were members of the Executive Board of the International Garment Association, representing the Taiwan Textile Federation, Europe, Turkey and Bangladesh.
outlook
While post-pandemic growth in the textile and apparel industry has been minimal and in line with India’s GDP growth rate of about 7 percent, the industry has also struggled with a nearly 50 percent surge in cotton yarn prices. This has resulted in manufacturers and retailers having to increase their prices by 15-20 percent, which in turn has led to lower demand, particularly in Tier 2 and Tier 3 cities.
“The total apparel retail segment is valued at Rs 8 trillion in India [etwa 88 Milliarden Euro] estimated. Over the years, the apparel segment, which grew 18 percent last year, has seen a significant consumer shift towards branded apparel, with e-commerce gaining momentum. The apparel industry is looking to the upcoming holiday and wedding season with hope and expects healthy growth for apparel this year, especially occasion wear,” said CMAI President Rajesh Masand.
