Fashion accessories brand, Accessorize London, is targeting expansion in the kids segment with the launch of its latest category, ‘Angel.’ The move comes as part of the brand’s strategic emphasis on retail and e-commerce growth, putting the spotlight on a comprehensive product line featuring bags, jewelry, hair accessories, sunglasses, and stationery, boasting a diverse range of colors and globally inspired designs. Accessorize currently offers 200 Stock Keeping Units (SKUs) and plans to further expand its catalog to meet growing market demands, the brand announced in a release on Tuesday.
The global children’s clothing & accessories market is anticipated to reach US$ 35.17 billion by 2028, with a projected Compound Annual Growth Rate (CAGR) of 4.1% from 2021 to 2028, according to Million Insights. In 2020, Asia Pacific accounted for over 35.0% of the global market revenue, with India being a significant contributor. Accessorize’s strategic entry into the Kids Category aligns seamlessly with evolving consumer preferences and the escalating demand for children’s fashion accessories.
Parents are increasingly seeking functional products that contribute to the holistic development of their children, creating a niche for innovative and stylish kids’ accessories. Accessorize’s foray into this segment aims to cater to this demand and tap into lucrative market opportunities.
In the last fiscal year, Accessorize recorded an 80% revenue growth, laying a robust foundation for its ambitious plans. The brand has successfully embraced an omnichannel selling strategy through its website, e-commerce platform, and various channel partners, projecting a growth rate of 45% for the current fiscal year.
Reflecting on the brand’s strategic focus, Kumar Saurabh, CEO of Planet Retail Holdings Pvt Ltd., stated, “The expansion into the Kids Category aligns perfectly with our commitment to providing fashion-forward trends and a consumer-first approach. The influence of global trends and the desire for international brands among consumers in India make it a natural extension for our brand to focus on kids’ accessories. We anticipate remarkable growth in this segment, driven by the launch of this curated Angels Category, dedicated to offering high-quality and stylish accessories for children.”
Accessorize aims to position itself as a preferred choice for kids’ accessories in the Indian market by aligning with global standards and offering unique, high-quality products. The brand’s strategic approach underscores its determination to meet the evolving needs of consumers and capitalize on the burgeoning demand in the children’s fashion accessories market.
