Apparel · D2C · Market Research

Sizing India's D2C apparel market for a global PE investor

A private-equity investor needed the true size and shape of India's direct-to-consumer apparel market before committing capital.

Direct-to-consumer apparel market analysis
Client
A leading global private-equity firm
Practice
Market Research
Industry
Apparel · D2C

The challenge

The investor needed the total addressable market and attractiveness of India's D2C casual-wear segment — split by price point, gender, age and channel.

They also needed a competitor benchmark and a clear read on purchase criteria to underwrite the investment thesis.

What we did

Top-down market sizing

Sized the market by category, price band and channel using triangulated secondary and primary data.

Competitor benchmarking

Mapped positioning and pricing across competitors through SKU collection and keyword analysis.

Voice of the market

Ran a 2,025-respondent customer survey plus in-depth interviews with customers, non-customers and vendors.

Outcome

Results

2,025
Customers surveyed
By SKU
Sized by price, channel & demographic
Go / No-go
Quant + qual investment thesis

Client identity is confidential; figures are as reported at project close.

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