But they made one costly assumption: that their customers would never change.

In 2024, that mistake became painfully clear.

India's Gen Z - all 377 million of them - officially overtook millennials to become the country's largest consumer group. And they didn't just change how we shop. They changed who we shop with.

Last year alone, Gen Z influenced ₹3.3 lakh crore ($40-45 billion) in apparel and footwear purchases. But here's the twist: they abandoned the brands built for them.

ZARA's growth crashed from 40% to 8%

Levi's fell off a cliff - from 54% to just 4%

H&M slipped from 40% to 11%

Why?

Because Gen Z wasn't shopping at malls. They were discovering brands like Freakins and Bonkers Corner on Instagram - serving Y2K crop tops, Korean pants, and oversized streetwear at ₹500-800. Affordable. Edgy. Inclusive.

This generation doesn't want a logo.

They want self-expression, size inclusivity, and unisex fashion that doesn't lecture them about growing up.

Legacy brands offered XS to L at ₹1,500.

Gen Z found XS to XXL at half the price - and never looked back.

Freakins racked up ₹25 crore in FY23

Bonkers.corner smashed ₹100 crore

Myntra saw the signs and launched FWD - a Gen Z-first platform with ₹500 styles. The result? 100% year-on-year growth and 16 million Gen Z users. Today, one in every three e-lifestyle shoppers is from Gen Z.

This isn't just a trend. It's a takeover.

Gen Z isn't growing into your brand.

Your brand needs to grow into them.

So, before you launch your next collection or double down on old assumptions, ask yourself:

What part of your customer has already changed - and have you noticed?

Because the most expensive mistake in business?

Assuming your customers will never change.