Feedback
A pioneer B2B media and publication platform connecting with Fashion Brands & Retail in India

GST leads to sales spike in apparel retail

Shoppers Stop, Aditya Birla Fashion and Retail, Trent and other retailers saw sales rise 14 to 25 per cent as they liquidated stocks before GST kicked in. Retailers hurriedly liquidated stocks before GST by enticing customers with advanced end-of-season sales. Shoppers Stop revenues rose 14.6 per cent year-on-year, while like-to-like sales (sales of stores that have been in operation for at least five years) grew 19.8 per cent, nearly double the regular growth the company sees during this time every year.

Similarly, ABFRL reported a 25 per cent increase in revenue for the quarter ended June 2017, led by a 27 per cent rise in sales of the apparel retail chain Pantaloons, with a like-to-like sales growth of 14 per cent primarily led by the pre-GST sale momentum.

Tata group-owned Trent’s revenues from operations rose nearly 25 per cent for the quarter ended June, while like-to-like sales growth for the period for Westside was 14 per cent, up from the apparel retail chain’s consistent growth of eight to nine per cent.

With prices of garments priced over Rs 1,000, parts of these retailers’ businesses could also be hit as they either raise prices or reduce margins with a higher tax burden.

LATEST TOP NEWS
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

Global brands resizing retail stores to become profitable

Global brands resizing retail stores to become profitable

  With Indian retail witnessing a makeover of sorts under the influence of e-commerce, leading brands are looking at right-sizing their outlets. Three American clothing and accessories brands — Gap, Forever21... Read more

Kishore Biyani’ Retail 3.0, outlines future business strategy

Kishore Biyani’ Retail 3.0, outlines future business strategy

  Kishore Biyani recently unveiled his grand vision, titled Retail 3.0 – a 30-year roadmap on how he expects the Future Group’s second innings in retail to pan out. In his... Read more

Soch plans international expansion

Soch plans international expansion

  Ethnic brand Soch, is planning to retail in countries like the US, UK, Canada, Australia, South Africa, Mauritius, Singapore, Indonesia, Malayasia and UAE by April 2018. Much like global fashion... Read more

Cadini plans retail expansion in state capitals and Tier II, III cities

Cadini plans retail expansion in state capitals and Tier II, III cities

  Founded in 1970 in Florence, Italy as a manufacturer of men’s garments and accessories, Cadini has continuously grown, maintaining a great passion for style, quality and, research. The name ‘Cadini’... Read more

FBB to reach a 100 standalone stores by next year

FBB to reach a 100 standalone stores by next year

  With 60 standalone stores at the moment, FBB is aiming for 100 stores by FY18. FBB has a presence in 250 Big Bazaar outlets, and will cross 310 stores by... Read more

Neva focuses on innovative concept ‘Clothing for Life’

Neva focuses on innovative concept ‘Clothing for Life’

  Established in 1998, Neva’s initial innovative practice still resonates across the thermal inner wear industry. Although Neva gained the indisputable market leader position through its innovative and quality products, it... Read more

Woodland to open 40 stores annually, expects increase in 15 per cent revenue

Woodland to open 40 stores annually, expects increase in 15 per cent revenue

  Adventure footwear and apparel maker Woodland plans to add 40 stores annually and scale up its new launched premium brand ‘Woods. It is expecting a revenue jump of 15 per... Read more

Force NXT from Dollar aims to break youth stereotypes

Force NXT from Dollar aims to break youth stereotypes

  Force NXT is Dollar’s ultra-premium brand, designed to keep in mind every flavour of the year. It’s been two years since Force NXT was launched and in a short span,... Read more

Toonz Retail focusing on Tier II, III expansion

Toonz Retail focusing on Tier II, III expansion

  Having opened their first store in 2010, in Bengaluru, Toonz Retail today is successfully operating more than 100 stores spread across 62 cities in 15 states including Delhi, Karnataka, Andhra... Read more

Season 2.0 of India Intimate Fashion Week in early summer 2018

Season 2.0 of India Intimate Fashion Week in early summer 2018

  After achieving a remarkable feat in its debut edition, the much awaited India Intimate Fashion Week (IIFW) is all set to host its second season, early next summer in Mumbai.... Read more

MOST POPULAR NEWS
Go to top