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

At AW17 Junior’s Fashion Week, Mumbai brands showcase trendy styles

At AW17 Junior’s Fashion Week, Mumbai brands showcase trendy styles

  Mumbai hosted the two day Junior’s Fashion Week recently. The two-day event was hosted at Grand Hyatt. The Autumn Winter 2017 edition of Junior’s Fashion Week, brought into spotlight trendy,... Read more

Park Avenue by Raymond to make comeback with new retail concept

Park Avenue by Raymond to make comeback with new retail concept

  Raymond’s youthful clothing line, Park Avenue, will re-open its first New Delhi store after a brand and retail makeover in November. Sharad Walia, Brand Director, Park Avenue says the new... Read more

Arvind Internet changing the fashion retail game

Arvind Internet changing the fashion retail game

  Sharing the same passion of using technology and data to identify customers, Kulin Lalbhai took Mukul Bafna onboard to strike an Internet revolution by establishing Arvind Internet. Their idea was... Read more

India’s lingerie industry witnessing a dramatic design shift

India’s lingerie industry witnessing a dramatic design shift

  The lingerie industry has undergone a sea of transformation in the past few years. It holds the largest market share in India with high returns. With changing preferences and fashion... Read more

Max Fashion targets becoming a Rs 5,000-crore brand in three years

Max Fashion targets becoming a Rs 5,000-crore brand in three years

  Max Fashion, which is owned by Dubai-based $9 billion Landmark Group is growing at a CAGR (compound annual growth rate) of 32 per cent year on year and targeting achieving... Read more

Jealous 21 to launch Do & Diva denim in coming months

Jealous 21 to launch Do & Diva denim in coming months

  Having started its operations in 2005, Jealous 21 has come a long way since then. With a product basket comprising denims, dresses, tops, etc, the company has redefined Indian women’s... Read more

Wazir Textile Index: Q1 reflects overall sales growth in T&A mill sector

Wazir Textile Index: Q1 reflects overall sales growth in T&A mill sector

  The latest Wazir Textile Index (WTI) highlights that raw material prices increased in Q1 FY18 compared to Q1 FY17. On an average, raw cotton, viscose staple fibre and polyester staple... Read more

Anushka Sharma launches signature apparel line Nush

Anushka Sharma launches signature apparel line Nush

  Bollywood star Anushka Sharma, whose personal style is aesthetic, elegant and relatable wears a bit of herself in all that she sports. Her signature apparel line, Nush is a highly... Read more

Apple Eye to focus on character clothing, opt for innovative marketing

Apple Eye to focus on character clothing, opt for innovative marketing

  Kolkata-based kids’ brand Apple eye was launched in 2009 with inspiration from parents’ feeling for their children: ‘apples of their eyes’. The company started commercial production in 2010. “The place... Read more

Khadi: The humble fabric now belongs to the future

Khadi: The humble fabric now belongs to the future

  Gandhi Jayanti is also about celebrating all things uniquely Indian, like khadi. With the rise of everything handcrafted in fashion, khadi, too, has seen a new lease of life. Now,... Read more

MOST POPULAR NEWS
Go to top