Apparels enjoy higher share of corporatised retail

Corporatised retail is making inroads in the apparel sector in India. From just eight per cent in 2013, corporatised retail-that is retail businesses-owned and managed by a limited company or a partnership firm-is set to shoot up to 24 per cent by 2023, according to industry estimates. From $5 billion in 2001, the size of corporatised retail has jumped to $34 billion in 2012. At present, though corporatised retail is estimated at eight per cent penetration of the total retail sector, apparels tend to enjoy a significantly higher share of corporatised retail at 20 per cent, according to Ankur Bisen, Senior Vice-President, Retail, Technopak. A Technopak analysis has revealed that while the apparel market share in the total market was Rs 2,27,940 crore in 2013, modern retail accounted for Rs 45,590 crore of this in 2013, cornering a 20 per cent share. The research company has estimated that by 2018, the apparel market share in the total market would jump to Rs 3,54,570 crore, and modern retail would account for Rs 99,280 crore in 2018, with 28 per cent share.