Designing Marketing and Growth Strategies for Small and Medium Fashion Businesses (SMFBs) in India

Abstract

A splendid canvas of local customs and economic development, the Indian fashion industry covers both the old art of Talismans-laden weaving and natural dyes and the sophisticated art of draping during the Vedic and Mauryan periods. Although there was the introduction of Western clothing by the British, the cultural aspect prevailed, and traditional clothes such as the saree and Khadi survived. Nowadays the industry consists of organized branded chains and an unstructured market of local tailors and boutiques. SMFBs play an important role in this ecosystem. They flourish where they answer the needs of the market in terms of affordability, quality, and longevity and sometimes may expand to rural locations which major brands may not access. These businesses spur economic growth, and generate huge employment, since they put emphasis on product consistency and stock availability. Moreover, SMFBs protect cultural heritage through promoting community-based fashion and traditional craftsmanship. These businesses are however faced with huge challenges, among them being inadequate money to invest in infrastructure and unavailability of sophisticated technology. According to Mukherjee (2018), a decrease in demand and profit margins may be caused by the backwardness of technologies. Over the recent decades, this has changed with the emergence of social media. No longer relying on the traditional model of reputation in the family and local connections, SMFBs now turn to digital platforms to realize low-cost growth, brand recognition, and direct interaction with customers. The combination of this digital change and strategic partnerships can enable the small businesses to contend with innovation and increased visibility. This study is focused towards helping one such company overcome their speed breakers and turn profitable and that brand is Pratwear.