Definition / Scope
Pakistan's Fashion and apparel industry is becoming an important dimension of its economy, due to its export potential worldwide. In Pakistan, the significance of fashion industry is being realized in view of its huge potential for future expansion.
The importance of building individual brands in our fashion industry cannot be over emphasized. Pakistan's Fashion Industry requires originality in Fashion Designs instead of merely pirating the prototypes of foreign designers. Where creating a label/brand from scratch is difficult, an easy way could be Brand Transference from High Fashion EU Countries such as France, Sweden, UK Italy etc.
To educate Pakistan's stakeholders about High Fashion Market, TDAP has been participating in reputed international fashion exhibitions such as Heimtextile, Interjeans-Cologne, Pret-a-Porter (Paris),Copenhagen International Fashion Fair, Poznan Fashion Week. Furthermore, TDAP in collaboration with CBI (Centre for Protmotion of Imports from developing countries, Netherland) have been organizing series of workshops on 'The EU Fashion Cycle' and 'Fashion Forecast for EU' for those exporters/designers who are working in the textile garment sector and currently exporting or intend to export to the European Market.
In this regard, CBI has developed garment training cycle in which the 'EU Fashion Cycle' was explained through some of it renowned fashion designers and experts. These Workshops impart practical knowledge and create awareness for working with the 'EU Fashion Cycle'.
A fashion industry, in most countries, caters to the affluent before its designs become the norm. Designers, who have spent years in building a 'name', target this particular segment since it allows them higher margins.
Hence, it is not a stretch to say that Pakistan's industry does the same. Latest designs, sometimes absurd as they may be, are adopted by the 'trendy' before the informal sector can introduce them in the mainstream market. However, with a rise in the standard of living, with a profound effect felt in the middle class, the fashion industry's reach and size of the market has increased.
In an interview with The Express Tribune, the CEO of Pakistan Fashion and Design Council (PFDC) stated, "We are talking about developing brands, value-added products, boosting the retail sector and promoting mega mall culture in Pakistan, The fashion industry is a kind of nucleus and many other industries revolve around it." For Ali, the population of Pakistan with massive buying power is the biggest pull-factor for local and global brands to invest in the market.
There are around 40 high end brands and their annual sales volume runs in billions of rupees. Khaadi, a relatively a new entrant with 40 outlets, has an annual sales volume of around Rs 7 Billion. Similarly, another renowned ladies brand with 400 nationwide outlets posted annual sales volume of Rs 11 Billion.
The seasonal lawn segment, which has around 140 brands, alone, fetches billions of rupees annually and the demand is continuously increasing. The CEO believes that long-term partnerships with the cooperate sector prove to be good for companies to advertise and streamline their products.
|Base Year||2017||Researched through internet|