10 Oct 2019
PepsiCo partners with HUEMN to foray into fashion industry in India, says GlobalData
Posted in Retail
Following the news that PepsiCo has forayed into the fashion industry in partnership with India-based ready-to-wear (RTW) apparel brand HUEMN at the Fashion Design Council of India's Lotus India Fashion Week SS20,
Shagun Sachdeva, Consumer Insights Analyst at GlobalData, a leading data and analytics company, offers her view:
'PepsiCo has often come with launches that reverberate with millennials and the rationale behind the current partnership is part of its strategy to diversify away from its core categories and increase its touch-points with younger generation. HUEMN may offer PepsiCo a relatively low-risk way to map out the growth roadmap without putting its core brands at risk.
'According to GlobalData, the clothing market in India has grown rapidly from US$32bn in 2009 to US$59bn in 2018. Though the market is fragmented with numerous brands jostling for space, players such as Reliance Trends, Pantaloons, Wrangler, John Player and Raymond are leading the market.
'HUEMN can leverage PepsiCo's operational scale, global reach and ambition to enhance its own product line and bring ethical and sustainable fashion products.
'As consumers are embarking on the growing trend of using natural products, PepsiCo intends to engage with the new set of consumers with eco-friendly products such as denims made out of recycled plastic. The move is expected to generate interest in the brand among environment-conscious younger generation.'
GlobalData plc published this content on 10 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 October 2019 07:35:02 UTC