How ICH Creative is reshaping the future of Indian fashion forecasting

In a dynamic landscape where culture, commerce, and creativity intersect, Kanika Vohra & Anuradha Chandrashekar, Co-founders, ICH Creative Consulting, stand at the forefront, reshaping the future of Indian fashion forecasting. With a combined wealth of experience spanning nearly five decades and a track record of pioneering creative visions for renowned brands and retailers, their journey is a testament to relentless innovation and unwavering passion.

As founding team members of AJIO.com, they witnessed firsthand the evolving e-commerce landscape in India before embarking on their entrepreneurial venture, ICH Creative. Through their consultancy, they have delved deep into the intricacies of the Indian fashion industry, dissecting its complexities and uncovering untapped potential.

Looking ahead, their ambitions are bold, their strategies aggressive. With an unwavering commitment to talent and innovation, they are poised to redefine the paradigm of Indian fashion forecasting, one trend at a time.

Could you share the motivations and factors that led you to embark on your journey in fashion forecasting, and how do you see this field evolving in the coming years?

We both carry a combined experience of nearly 5 decades, having spearheaded the creative vision for multiple brands and top retailers across the country. Our first stint together was as founding team members of AJIO.com post which we launched our consulting gig- ICH CREATIVE. Through our careers we have had the fortune of working with a complex myriad of consumer sets and retail businesses within the country, engaging and understanding their strengths, opportunities and challenges.

India has always had a very unique perspective, whether it is in cinema, fashion, food, culture or experiences. Secondly, the fashion industry is a rare type that demands constant churn of new products, functions with a longer lead time and often delivers to an emotional need rather than a rational one. Hence the need for an indigenous, research led fashion forecast that benefits this quickly, expanding retail industry. Ultimately it was our love for research, and connecting these dots that drove us to plunge into this venture of trend forecasting, called ICH NEXT!

The country is at an inflection point. With increased digitization, a vast and aspiring population, consumption is expected to see a boom in the next decade, with more D2C fashion businesses coming alive. While markets expand, businesses will be forced to organize themselves to address this expansion, find a unique voice to break through clutter, stay relevant to consumer aspiration and bet on the right trends at the right time. This future reality is precisely what ICH as a business in focused on – to aid and abet brands to launch effectively through our Enterprise Solutions and for manufacturers, retailers, labels, etc. to have access to future consumer trends via ICH NEXT.

In the context of the Indian apparel retail sector, what specific challenges and opportunities do you perceive in the realm of forecasting, and how do you plan to address or leverage them?

Like every business the challenges are many and so are the opportunities. The two greatest challenges we face as a Fashion Forecasting service is – 1) the unorganized/ semi-organized nature of the industry, and 2) the copy-cat mindset. As a manufacturing country, the focus has always been more on product efficiency, scale and optimization, and less on differentiation or design. This however is fast changing. With consumers becoming more and more discerning, brands and retailers will be forced to up their game on building product relevancy and differentiation, and consequently investing behind research, trend forecasting and design. This is the reality we seek to address. At ICH, we not only inform on future trends via ICH NEXT, but also aid and abet design through our expansive library of assets, custom made trend x design solutions and consult on helping launch new brands or portfolios with a creatively strong, commercially viable and authentic position.

Exploring the broader impact, could you elaborate on how fashion forecasting influences both individuals and businesses, touching on aspects such as consumer behaviour, market trends, and overall industry dynamics?

There is a multi-pronged influence on consumers’ fashion sentiments stemming from the cinema, runway, social media, celebrity trends, travel, culinary experiences, global dialogues, and even the trends governments promote. These evident and subliminal influences are what drives a consumer towards a new trend, or evolution in their style. Ultimately, they only buy what resonates with them. So, the onus lies on the manufacturers and retailers to present the right product at the right time to the right TG. Domestic brands have in the past, predominantly either refer to past trendsor personal instincts for new collections for specific occasions or seasons, with a ‘hit or miss’ outcome.

The prospects of a brand get marred when their new collection remains unsold through the season, only to be sold later as part of stock clearance sales. Fashion forecasting provides a consumer-centric unified research with trend insights that connect the dots between consumers and fashion retail. The foremost requisite for brands to create to consumer accurately, is a report that is easy to read and adapt, enabling for design & businesses to make informed decisions right at the start. It is also imperative that these reports are made accessible to the brands much in advance or ahead of time, so that they get ample opportunity to manufacture as per the expected demand and accordingly align their operational & supply chain.

When a brand aligns its collection with current trends, as forecasted by fashion forecasting companies, sales can skyrocket. We have proof of one such closely engaged client, one of India’s largest fashion retailers that showed a revenue increase by 6-8 times. Investing in thorough research and gaining a holistic perspective ensures timely inventory turnover. By synchronizing with trendy colour palettes, patterns and silhouettes through comprehensive fashion forecasting, collections can achieve unprecedented success, quickly flying off the racks.

What unique approaches, methodologies, or insights distinguish your fashion forecasting platform from established global forecasting firms, and how do you envision maintaining a competitive edge in this rapidly evolving landscape?

Firstly, we are local. We connect the dots between consumer, market, trend and design for the domestic retail industry. Future trend analysis comprises an exhaustive, thorough research of the market and consumer, taking into account their both conscious as well as subconscious influences. Empowering fashion businesses to stay on trend and get it right each time, ICH NEXT takes a 360-degree approach, encompassing significant elements of influence, such as Domestic Media, Movies & Content, Consumer Sentiments, Bollywood & Regional Celebrities, Global Runway, Travel Trends & Consumer Discoveries, F&B trends, Political Impact & Government Initiatives, Leading Fashion Retailers, Market reports, Social Media Influencers, Labels, as well as Domestic blogs and magazines.

To ensure that all the elements & factors are incorporated in the analysis, more than 900 curated research sources are crawled through our tech platform, and the subsequent step is applied human zeitgeist.

Secondly, while the methodical & in-depth research plays a pivotal role in plotting the trends, ICH NEXT ensures that no message remains diluted or lost in translation. So instead of abandoning the brands midway during product finalization, we assimilate and illustrate the findings with original art & design inclusion. Brands subscribing to ICH NEXT get customized trend advisory and directional as well as prescriptive inputs on distinct facets such as colour, pattern, fabric, silhouettes, price, etc.

Delving into your future strategies, could you provide insights into your upcoming campaigns, plans for securing funding, potential expansion initiatives, and your hiring strategies to further strengthen your position in the market?

Future strategies revealed? And leave nothing to surprise? Let’s just say, the plans are many, strategies are aggressive and expansion is bold. Our hiring strategy has always been simple. We invest behind people, the human behind the skill, their passion and potential, with little interest in what their degrees claim.

Looking ahead to the summer of 2024, what are your predictions for key trends in fashion, and how do you plan to integrate these forecasts into your platform to provide valuable insights for both consumers and businesses?

The summer of 2024 promises an optimistic and dreamy ambiance, offering a serene escape amidst global turbulence. India, with its resilient self-sufficiency and rich cultural heritage, stands in contrast to the regressive sentiments prevailing in the West, reflected in its upcoming summer fashion. While a bold sentiment, the expression is nonchalant and romanticized. Bright and airy colors will dominate, ranging from delicate rose pink, mint green, and lilac to vibrant fluorescent red, purple, and teal. Lightweight, breathable fabrics will reign supreme, responding to the scorching heat and prioritizing functionality. Sheer and fluid textures will be favoured, ensuring comfort without compromising style.

In terms of patterns, expect a fusion of experimentation and cultural motifs taking centre stage, navigating from the past to fantastical underwater fauna to confluence futures. From Mughal-inspired designs to Marina Fauna and Mexican floral block prints or Aztec influences, the season will explore fantastical interpretations of traditional and contemporary art forms. Notably, voluminous sleeves will make a statement, exuding a romantic allure while defying practicality. Additionally, men’s and women's fashion will lean towards boxy fits and size-inclusive silhouettes, promoting inclusivity and comfort.

These trends, among others, were unveiled in the ICH NEXT Spring Summer 2024 report, distributed to major Indian fashion brands and manufacturers last year. The comprehensive report features meticulously illustrated sketches and designs, eliminating ambiguity and offering detailed insights into various macro-trends for the season.

ICH NEXT is India’s first Indian Wear Fashion Forecast for the domestic retail market. Launched in 2022, it already boasts a client roster of retail giants such as Myntra, Amazon India, Tata Cliq, Reliance, Raymonds, Soch, Nykaa, etc., while also being relevant to a host of MSME labels and manufacturers across the country.