Siyaram, OCM make women’s ethnic wear foray

Traditional textile companies focused on menswear are increasingly taking the plunge into the ethnic women’s wear segment.

While Mumbai-based Siyaram was the first mover, with its ‘Siya’ brand, Delhi-based OCM has roped in Pakistan’s designer brand Sana Safinaz to make a foray into the ethnic women’s segment.

“There is no national woman’s ethnic wear fabric brand and it is time for us to address the segment. Being an almost 90-year-old textile player in worsted suiting for men, which will continue to be our mainstay, the tie-up with Sana Safinaz will mark our entry into the ethnic branded fabric for women,’’ said Nitin Jain, CEO & MD of OCM India.

Price points Keeping away from stand-alone stores due to prohibitive real estate costs, OCM will sell its women’s ethnic wear range from about 1,300 multi-brand outlets. The price points will range from ₹5,000 to ₹9,000 for a three-piece salwar suit, targeting women from tier 1 and 2 cities.

“Our target audience is going to be women in the 25-30 age group with disposable income in excess of ₹50,000,” said Jain. Siyaram has been experimenting with women’s ethnic wear for almost a year under the Siya brand of unstitched and readymade garments.

Considering the group also had a sari range under the ‘Rajkamal’ brand years ago, it may re-enter the segment under the Siya brand in future.

Kishan Poddar, Executive Director, Siyaram Silk Mills, said: “The market for ethnic wear is still unorganised. Yet we have taken the challenge as the first entrant to go national in this category since we have our strengths in manufacturing and retail unlike new brands like Biba and Jashn, who are basically traders and retailers in this segment.”

Siyaram has the advantage if owning about 200 franchise outlets, which can also distribute its women’s ethnic wear along with menswear, which would continue to be the mainstay of the brand.

“Menswear will continue to be the bread and butter of the business while ethnic women’s wear is being regarded as a means of supplementing and completing the portfolio of the company,” added Poddar.

Primary players The ethnic women’s wear market has been booming for the past few years. The primary players include brands such as Biba and Global Desi, which are backed by private equity giants, as well as e-commerce brands such as Indian Roots and Craftsvilla.

According to retail consultancy Technopak, the size of the Indian woman’s ethnic wear segment is estimated at ₹20,700 crore, with growth rates in excess of 10 per cent.