Sari is in stiff competition in its own yard as the more women adopting western wear for its conveniences

摘要

In 2011, major French luxury fashion house Hermes decided to launch a collection of saris to cater to its Indian clientele. According to an ICRA report quoting statistics from the Ministry of Textiles, cited in media reports, the sari, as a category, clocked an 8.8 per cent annual growth in value terms between 1998 and 2006 in India and expanded into a Rs. 53,459-crore market in 2006. And all other textile categories, such as shirting, suiting, dress material and ready-made garments reported a decline in value terms. And as of 2008 it grew to become an approximately Rs. 70,000-crore market, which accounted for more than one-third of the total consumption of apparel and household textiles in India. Growth rate in volume terms, which was stagnant at 1.1 per cent during 1993-98, accelerated to 8.4 per cent over the next six years. These were stellar credentials and worth placing one's bet on. Pegging its saris in the $6,000-9,000 range, Hermes was convinced that the teeming millionaires of this Third World market would take to them like metal to magnet.