India 3rd-largest & fastest-growing market: US Polo
Apparel maker US Polo Assn is betting on India to become its largest global market. Amid growing competition from a mix of fashion forward global and local direct-to-consumer brands, the company has been able to tap into the rising casualisation trend in India.
Young people do not mind teaming up a casual T-shirt with trousers and show up at work and for USPA, which caters to a sizable base of millennials and Gen Zs, that’s an opportunity. About 35% of its customers are under the age of 28 years.
“Consumers love this sporty, fashion lifestyle of USPA and that has worked for us. People are dressing more casually and that’s been a tailwind for sure,” said J Michael Prince, president & CEO at USPA Global. “India contributes 20% of the brand’s sales (globally). The market has seen tremendous grown over 5-6 years and in the long-term, it could be our number one market,” Prince told TOI in an interview.
India is the brand’s third-largest market globally and also the fastest growing, helped in parts by an expanding middle class and their increasing propensity to spend on premium brands. Arvind Fashions is the licensee for USPA in India.
“Post-Covid, we saw a K-shaped recovery. Consumers want more differentiated and less commoditised products,” said Shailesh Chaturvedi, CEO & MD at Arvind Fashions. While pre-miumisation as a strategy continues for the brand, it is also investing heavily on adjacent categories like footwear, kids segment and innerwear, all of which put together are making up more than 20% of the business.
For the US brand which manufactures most products locally in all markets, the global tariff wars do not impact their business strategy as of now.
Post Comment