IAAI Highlights Russian Trade Opportunities for Indian Businesses
An interactive seminar on possible trade opportunities in Russia was organized recently, by Intimate Apparel Association of India (IAAI). The seminar was divided into three broad segments, which included the scope for the Russian Market Opportunities, sharing of knowledge about various product trends and the current understanding of logistics of export and trade.
Intimate Apparel Association consistent efforts and vision towards improving the standard and exposure of the intimate apparel industry, they have been also working towards, identifying newer market opportunities and feasibility in India and globally.
The Scope of Lingerie Market in Russia
Of the total Lingerie imported in Russia, 60% comprises of the Socks, Stockings and Tights segment, 20% included the Bras and Corsets and other 20% covered the various other inner ware variants. However, the imports from India are at only 2% in 2015, bringing light to the point of hesitation for a potential market, to expand exports other than European and American continents. While, various factors of mindset and government policies were discussed, the interesting insight towards the consumer behavior was quite similar to the Indian consumer consumption pattern, being widely dependent on comfort and fit as being their primary concern, style and price being their secondary concern and brand being a tertiary concern. From a perspective of the industry contrary to India, they have well organized wholesale Markets and typically follow the Cash and Carry format of business.
Mr. Rakesh Grover, President, Indian Intimate Apparel Association of India, further highlighted “The intent of this seminar is to extend conversations and collaborations for various intimate apparel segments. This initiative has helped in understanding the entry options of private labels manufacturing for leading brands, enhancing supply of unbranded product in wholesale markets, launch of global brands and also setting up manufacturing facilities in Russia for our Indian manufacturers and brands”
The next step will be participation in a trade event to be held in September 2016 in Russia, and would like to reach out to various brands and manufacturers based out of India.
Intimate Apparel Association of India is the apex body striving to bring more success and development to the intimate apparel industry of India; to raise and improve the standard of manufacturing, distribution and retailing of intimate apparel products by all practical means. IAAI has been organizing and participating in trade fairs, exhibitions and shows for the promotion of intimate apparels in India and all parts of the world, so as to promote the intimate apparel category and maximize the exports of intimate apparel from India.