26 December 2022, Mumbai
Ludhiana's hosiery cluster is staring at losses on account of lower offtake of garments.
Because of the delayed winter repeat orders are hard to come by and retailers have been left with a heavy stock of winter wear.The weak demand for clothes for the cold weather has forced the hosiery industry to offer discounts in early December to attract customers at retail counters and clear the stock. Otherwise, big brands in the hosiery sector start offering discounts only in the last week of December or the first week of January.
October, November and December are the key months for Ludhiana's hosiery sector. Key markets for the hosiery industry are Punjab, Haryana, Delhi, Himachal Pradesh, Uttar Pradesh, Rajasthan, Jammu and Kashmir, Bihar, and some north eastern states.The industry is famous for winter garments like jackets, sweaters, thermals, cardigans, pullovers, inner wear, shawls etc.But there has been a very low demand for garments in this season from wholesalers and retailers. They placed orders only once and have not come back for placing orders for a second or third time. Some manufacturers are offering a ten per cent to 20 per cent discount on winter wear.
The marriage season in December also failed to lift demand for winter wear, which came as another setback for the industry.
