10 Best Fashion Startups - 2020

India is increasingly becoming a focal point for the fashion industry, reflecting a rapidly growing middle class and an increasingly powerful manufacturing sector. According to the McKinsey’s research report, India’s fashion market will be worth $59.3 billion in 2022, making it the sixth-largest in the world, comparable to the United Kingdom’s ($65 billion) and Germany’s ($63.1 billion). Contributing to this market is the fashion startup brands (apart from the well-established organizations) that are doing very well in the market. To build momentum around conventional stores, the startup brands are adopting innovative techniques: for instance, leveraging technology to enhance the in-store experience with digital marketing displays, improved checkout and much more. With all this, it is clearly evident that India has emerged as a strong startup nation handholding startup founders and other professionals in their journey of unveiling products & solutions in the industry. Nowadays, startup brands are determined to take advantage of the industry’s blossoming growth. The majority are selecting one of three routes to excel in the market. First, they are collaborating with the existing e-commerce platforms. This is most suitable for players with low brand awareness and relatively little capital to invest; it also offers a good way to test demand and customer preferences. Second, brands that have little local knowledge and are looking to enter the market quickly are opting for a franchise model, developing brick-and-mortar retail spaces. Finally, players that have significant local knowledge and capital resources are creating fully owned and operated stores. With such strategies, the brands are all set in the path of development. But, what lies ahead for the fashion startups in India? The future seems quite prospective for them as their innovative products and solutions are predicted to attract a horde of investors as well as customers, across the world. The Indian Government is also playing proactive roles in moulding a bright startup ecosystem for these startups to thrive and develop. However, it is imperative for the Government to seamlessly shape its policies so as to foster innovation, risk-taking, and growth. Exploring the world of startup brands and their portfolio in India, CEO Insights has come up with a detailed listing for ‘10 Best Fashion Startups - 2020’. An expert panel comprising of entrepreneurs, industry experts and VCs along with CEO Insights Editorial Board has prepared this list of front-runners in the startup space, post a meticulous evaluation. The listing not only showcases the excellence of these startup brands and their exemplary products/services, but also the variegated trends disrupting the Indian startup ecosystem.