Siyaram, Mumbai based and Delhi based OCM, traditional textile giants with focus on menswear are now marking their entry into the ethnic womenâ€™s wear segment with target audience women in the 25-30 age group with disposable income in excess of Rs.50,000.
Siyaram , the first mover, with its â€˜Siyaâ€™ brand, Delhi-based OCM has roped in Pakistanâ€™s designer brand Sana Safinaz to make a foray into the ethnic womenâ€™s wear segment.
Nitin Jain, CEO & MD of OCM India said that there is no national womanâ€™s ethnic wear fabric brand and it is time for them to address the segment. Being an almost 90-year-old textile player in worsted suiting for men, which will continue to be their mainstay, the tie-up with Sana Safinaz will mark their entry into the ethnic branded fabric for women.
Keeping away from stand-alone stores due to prohibitive real estate costs, OCM will sell its womenâ€™s ethnic wear range from about 1,300 multi-brand outlets. The price points will range from â‚¹5,000 to â‚¹9,000 for a three-piece salwar suit, targeting women from tier 1 and 2 cities.
Siyaram has been experimenting with womenâ€™s ethnic wear for almost a year under the Siya brand of unstitched and readymade garments. Considering the group also had a sari range under the â€˜Rajkamalâ€™ brand years ago, it may re-enter the segment under the Siya brand in future.
Kishan Poddar, Executive Director, Siyaram Silk Mills, said that the market for ethnic wear is still unorganised. Yet they have taken the challenge as the first entrant to go national in this category since they have their strengths in manufacturing and retail unlike new brands like Biba and Jashn, who are basically traders and retailers in this segment.
Siyaram has the advantage if owning about 200 franchise outlets, which can also distribute its womenâ€™s ethnic wear along with menswear, which would continue to be the mainstay of the brand.
Menswear will continue to be the bread and butter of the business while ethnic womenâ€™s wear is being regarded as a means of supplementing and completing the portfolio of the company, added Poddar.
Siyaram's manufactures over 60 million meters of fabrics annually and has retained the crown of the largest Indian manufacturer of blended fabrics for a significantly number of year. Their state of the art manufacturing plants are located at Tarapur, Daman and at Silvassa.
According to retail consultancy Technopak, the size of the Indian womanâ€™s ethnic wear segment is estimated at â‚¹20,700 crore, with growth rates in excess of 10 percent. The primary players include brands such as Biba and Global Desi, which are backed by private equity giants, as well as e-commerce brands such as Indian Roots and Craftsvilla.
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