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The Rs 80,000 crore sari industry is building brands, will it succeed?


The humble six-yards sari has got a new lease of life in the past few years, with it becoming a fashion statement. Not only are women flaunting their collection of drapes from across the country through social media groups such as SixYardsAnd365Days and Saree Speak, celebrities are also displaying their Indianness by wearing handwoven sarees. The latest being producer, Guneet Monga, going up to the stage to receive the Oscar for the documentary ‘Elephant Whisperers’, in a resplendent dark pink Benarasi sari.

Sari is a ₹80,000 crore, highly unorganised market. Barring Nalli, most of the heritage brands such as Rasi Silk in the south or Ushnak Mal in the north are regional brands. Ask an average Indian woman, if she is particular about brands, her instant response would be that it is the weave and quality of the silk or cotton that matters the most. The sari is invariably bought from a trusted local retailer. “I like original, traditional weaves, rich colours, as well as the feeling that it comes from a tradition. It is like a form of Indian art and by buying and wearing a sari, I am able to continue with our rich heritage. It also provides support to traditional weavers,” says sari-lover and Founder of Avaana Capital, Anjali Bansal. She prefers buying her six-yard drapes either from organisations promoting traditional weaves or directly from a weaver.


However, the resurgence of sari as a fashion statement has led to the building of brands and an effort to organise this highly unorganised market. These are not necessarily saris crafted by celebrity designers such as Sabhyasachi or Manish Malhotra, but sourced directly from weavers. While Titan Company is leading the pack with its ₹100 crore brand, Taneira, the other brands include the likes of Karagiri, Suta, Raw Mango, Ekaya Benares and Tilfi. These brands are not just sourcing sarees from weavers across the length and breadth of the country and thereby positioning themselves as national brands, they are also playing the scale game by building a robust supply chain, and investing in design as well as in the texture of the fabric. “Consumers are loving the choice of clusters that we are sourcing our saris from as well as the comfort of the fabrics,” says C.K. Venkatraman, MD, Titan Company. Taneira has 40 stores and the plan is to launch another 40-odd stores within the next one year.

While Taneira is a brick-and-mortar brand, the others are digital-first. Ananth Narayanan, founder, Mensa Brands (which owns Karagiri), says that his vision for Karagiri is to create a modern digital version of Nalli. “D2C models help to develop brands. Our access to technology enables us to predict demand and give that projection to vendors who are able to cater to the demand,” he explains. Technology, says Tribikram Mishra, Lead, Fashion Portfolio, Mensa Brands, has also helped to build scale by standardising designs and weaves. “We use technology to predict demand. For expensive saris we use the made-to-order route, but when it comes to bestsellers our tech system helps us predict the demand.” The ₹60 crore brand works with over 2,500 weavers and has an inventory of 15,000-18,000 saris.

Read More at https://www.fortuneindia.com/macro/the-80000-sari-industry-is-building-brands-will-it-succeed/111997

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