Most apparel brands have stopped orders of fall-winter collection as they know that they would end up with excess inventory from the previous collection. House Of Anita Dongre has cut down on fall-winter collection production. The brand plans to spread its spring/summer collection over the next few months, as that will help it protect cash flows. It usually plans its collection for a period of six months but would now need to plan a new collection every two months and have at least 6-7 collections a year.
Label Life launches a new collection every month. The brand doesn’t have too much inventory as it follows the practice of launching a new collection every month. Its April collection hasn't been launched as the brand is not sure when its products will reach the consumer.
Apparel brands are trying all possible ways of generating funds. Retailers and brands are trying to manage vendor payments cycles, discussing delay in rental payouts with landlords, trying to stop all kinds of frill expenses. Most players are also trying to use this opportunity to rationalise their underperforming stores as well.
These retailers have also stalled their store openings in the coming months. While the 300-store strong House Of Anita Dongre plans to increase its store count by 10 per cent; V-Mart plans to open as many as eight stores in the next two months. Most of the leading apparel brands have promised to pay their store staff for the next 40 days,