Value of Indian online fashion, lifestyle market hits $11 billion, to touch $35 billion in 5 years: report

The online fashion and lifestyle industry in India is now worth $11 billion and is slated to grow at a 25% compound annual growth rate (CAGR) to $35 billion by 2028, according to a joint report by consultancy Bain & Company and Aditya Birla Group-owned house of brands firm TMRW.

Traditional brands that have largely operated offline, such as Louis Philippe and Puma, have seen their online businesses grow 34% between 2019 and 2023 to $2.5 billion. New-age online-first brands such as The Souled Store and Bewakoof have seen their online businesses expand 33% since 2019 to $2.4 billion; they are projected to grow at an annual rate of around 35% to hit $10 billion by FY28, the report said.