In the times of economic slowdown, it is hard to really find an upswing in most businesses across the globe. The likes of aviation and tourism have suffered huge losses world over and since people are not too willing to freely spend cash on the excesses, it has meant a los in revenue for most industries. But in case of fashion and beauty, that is far from the truth. In fact, the market trends globally are exactly opposite and that is largely thanks to consumers being driven when it comes to looking good.
While previously it was nail polish that was the standard for the growth of the industry, lipstick sales along with perfume have now taken over. And in markets like India, it is bridal wear and wedding as a ‘gala event’ that has helped the fashion world beat the slump during the slow economic times.
Most designers in Indian market concede that Bridal is simply the most ‘lucrative’ part of Indian fashion wear and constitutes up to 70 percent of total revenue at times. This trend is not relegated to India alone; though the sub-continent thanks to its deep cultural roots and thriving urban middle class consumerism, leads the pack.
With almost three-fourths of India’s 750 crore designer wear industry depending on weddings, fashion designers concede that the rest of their work and collections are mostly there just to build brand value, while big chunks of money come in from the bridal assortment.
Both the US and European markets have also seen a constant up in the bridal fashion line of commerce and considering how weddings are always ‘big affairs that are as extravagant as possible” and perennial in nature, it should not really come as a surprise to anyone. So, while designers showcase their flashy collections on ramps, it is the traditional market that still largely drives the big bucks!