RattanIndia Enterprises launched a wholly-owned subsidiary, Neobrands, marking its entry into the fast-growing apparel fashion business. According to a statement by RattanIndia Enterprises, Neobrands will be a house of brands in the athleisure, performance wear, denim, and everyday fashion categories.
These brands will all be offered directly to consumers through e-commerce platforms in the initial phase as digitally native brands.
Anjali Rattan, the chairperson of RattanIndia Enterprises Business, stated that the company had collaborated closely over the past year to introduce its direct-to-consumer fashion brands in various categories.
“The fashion industry in India is witnessing a remarkable growth trajectory, with a huge demand for trendy and premium quality brands. Our brands across multiple categories are poised to capture this market opportunity by offering fashionable, yet affordable clothing options for men and women,” she said.
According to RattanIndia, the size of the fashion e-commerce business is now projected to be Rs 80,000 crore, expanding at a healthy rate of 30% annually.
“The fashion e-commerce market is expected to grow to Rs 2,50,000 crore per annum over the next five years. This growth is being led by a smartphone-enabled digital native young population,” Anjali Rattan said.
RattanIndia Enterprises’ businesses include electric mobility (Revolt Motors), e-commerce (Cocoblu Retail), fashion brands (Neobrands), fintech (Wefin), and drones (Neosky).
