Exploring the Growth and Innovation in India’s Lifestyle Sector: Republic Business Emerging Technology Awards 2024

The fashion and lifestyle sector in India is experiencing a significant boom, with a value of $110 billion and online sales reaching $11 billion, according to a recent report by Bain and Company. The online fashion market is projected to expand further, reaching $35 billion by the financial year 2028, with a remarkable compound annual growth rate of 25 per cent.

In addition, India’s merchandise exports are on the rise, set to double their current value by 2025. In 2022, India achieved a milestone with merchandise exports reaching $40.38 billion, up by close to 15 per cent from the previous year.

To celebrate the innovation and transformative advancements within India’s lifestyle industry, Republic Business is proud to present the inaugural edition of the Republic Business Emerging Technology Awards 2024 (RBETA 2024). This event will recognize and celebrate the visionaries and trendsetters who have revolutionized the lifestyle sector with their innovative approaches.

The Indian lifestyle market is being fueled by key sectors such as fashion and apparel, health and wellness, home and decor, technology and gadgets, cuisine and dining, and entertainment and leisure. These sectors are driving vibrant growth in the industry, catering to the diverse needs and preferences of Indian consumers.

For brands looking to scale profitably in this tech-enabled landscape, maintaining key metrics such as annual growth rates exceeding 50 per cent YoY and positive EBITDA between 5 per cent and 20 per cent are crucial. Successful brands are adept at leveraging direct-to-consumer channels to cultivate a loyal customer base, optimize pricing strategies, and streamline operations through focused technology investments.

The Republic Business Emerging Technology Awards 2024 will shine a spotlight on the trailblazers and innovators who are shaping the future of India’s lifestyle industry. Stay tuned for more updates on this exciting event!