Apparel and footwear market set to see demand increase in FY25 H2: Phillip Capital

Clothing and footwear retailers are feeling confident that consumer demand will rise in the coming months and the second half of the 2025 financial year is expected to see positive growth, according to a new report by investment and wealth management business Phillip Capital.

“Apparel overall consumption stayed the same in Q2 FY25, but consumer sentiment saw some early improvement as the quarter progressed,” read Phillip Capital’s report, Asian News International reported. “H2 FY25 outlook for footwear matches that of apparel, with October sales/ footfalls meeting expectation.”

High numbers of wedding dates over the winter season and an uptick in consumer sentiment is expected to boost apparel and footwear sales. The July to August period in 2024 saw muted sales due to fewer auspicious dates for weddings, heavy rainfall in numerous Indian regions, and the fact that the period followed the end of season sale frenzy of June. 

Momentum for apparel however picked up in September, as did footwear in October 2024. Over the festive season, rural markets performed stronger than urban localities and shoppers favoured value fashion products while still moving towards branded options. 

Phillip Capital is headquartered in Singapore and operates in 15 countries including India, Japan, China, Australia, the US, and UK, according to its website. The business runs over 200 investor centres and branches and was established in 1975.