GlobalData, a leading data and analytics company, sees ASOS’ new partnership with Reliance Retail as a strategic move to capture a growing share of India’s fashion market.
“Joining forces with Reliance Retail to boost its own-brand proposition in India will allow ASOS to better cater to the preferences and styles of local consumers, due to Reliance’s extensive expertise in the Indian market,” said Pippa Stephens, senior apparel analyst at GlobalData.
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“ASOS will also be able to lean on the retailer’s strong awareness and perceptions among Indian consumers to bolster its own visibility.”
India’s fashion market is projected for a compound annual growth rate (CAGR) of 5.2% between 2023 and 2028, according to GlobalData.
This growth is fuelled by a rising middle class with more disposable income and a growing urban population increasingly interested in keeping up with fashion trends.
The partnership breaks new ground for ASOS, marking its first foray into permanent physical stores through exclusive brand outlets managed by Reliance.
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By GlobalDataThis strategy acknowledges the current state of India’s retail landscape, where online sales only accounted for 24% of apparel purchases in 2023.
However, the deal also includes e-commerce platforms, recognising the digital channel’s rapid growth.
“Providing Indian shoppers with the opportunity to see and try on items in person will also give them greater confidence while they become more familiar with the ASOS brands,” said Stephens.
However, she cautioned that “stores will undoubtedly be restricted to a smaller product range than ASOS’ own website, so this must be carefully curated to ensure the strongest and most relevant products are available.”
This partnership positions ASOS to capitalise on the significant potential of the Indian fashion market, combining its online expertise with Reliance’s established retail network to reach a wider audience.
