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

Apparel demand to recover in FY22: Ind-Ra

  

Apparel demand to recover in FY22 Ind Ra

 

India Ratings and Research (Ind-Ra) estimates a demand recovery for the apparel sector in FY22 while it expects 40-45 per cent decline in FY21 revenues. As per a Live Mint report, the agency also estimates a threefold jump in online sales for retailers in the current fiscal.

For the third quarter, Ind-Ra, a part of the Fitch Group, expects apparel sales to touch 80 per cent of pre-COVID levels, with food and grocery retail hitting more than 100 per cent.

The agency predicts an obvious significant shift in consumer shopping habits with more consumers buying goods online. Ind-Ra expects sales made through the online route to increase by a factor of more than three in FY21.

Companies have focused on a strong digital footprint with increased investments in developing their own websites and mobile apps, while also partnering with online channel partners to fuel growth, the agency said.

As a result, business via own websites or through online marketplaces is expected to increase to 10-15 per cent of total sales by FY22, up from 2-4 per cent, faster than the earlier five-year timeline predicted to reach this volume.

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

India’s retail outlook stays strong with positive government initiatives

India’s retail outlook stays strong with positive government initiatives

    And IBEF report suggests India is the world’s fifth-largest global destination in the retail space. The entry of top players has made the sector one of the most dynamic and... Read more

Raymond board approves raising Rs 200 crore though NCD

Raymond board approves raising Rs 200 crore though NCD

     Textiles major Raymond’s board has approved raising upto Rs 200 crore through non-convertible debentures (NCDs) on a private placement basis. A meeting of the committee of board of directors of... Read more

Roadster adds augmented reality tees, anti-viral clothing to line

Roadster adds augmented reality tees, anti-viral clothing to line

     In response to increased public health concerns with on-going pandemic, lifestyle and fashion brand Roadster launched clothing and footwear made from anti-viral textiles. The brand has also expanded its product... Read more

India’s plan to change FDI rules may hit Amazon, Flipkart

India’s plan to change FDI rules may hit Amazon, Flipkart

     India is considering revising its foreign investment rules for e-commerce, a move that could compel players, including Amazon, to restructure their ties with some major sellers. The discussions coincide with... Read more

Lee, Wrangler to increase focus on online channels in India

Lee, Wrangler to increase focus on online channels in India

     Jeans brands Lee and Wrangler are planning to transform their India businesses into omni-channel entities. This is being done to drive growth and double sales over the next two years... Read more

Q2 apparel prices to remain soft, demand for cotton fabrics, home textiles to in…

Q2 apparel prices to remain soft, demand for cotton fabrics, home textiles to increase: Ind-Ra

    India Ratings and Research (Ind-Ra) in a report stated apparel prices are likely to remain soft in the second half of 2020-21 even as the segment is in a recovery... Read more

Shopping malls slowly recover as footfalls inch towards pre-Covid levels

Shopping malls slowly recover as footfalls inch towards pre-Covid levels

    Year 2020 was a tough one globally for people and businesses alike. With long stretches of lockdowns, and people confined at home, life almost came to a standstill. However, with... Read more

Decathlon to close down ‘country’s biggest sports store’ in Ahmedabad

Decathlon to close down ‘country’s biggest sports store’ in Ahmedabad

     Sports retail chain, Decathlon, plans to shut its Sardar Patel Ring Road store in Ahmedabad, launched seven years ago. This was “country’s biggest sports store” on January 15. “The operations... Read more

CMAI’s pre-budget recommendations highlights need for more policy support

CMAI’s pre-budget recommendations highlights need for more policy support

    The Clothing Manufacturers Association of India, (CMAI) has written an open letter to Nirmala Sitharaman, Minister of Finance outlining pre-Budget recommendations. The association has urged the government to consider key... Read more

Future Group expect sales to normalise by Jan-end

Future Group expect sales to normalise by Jan-end

     Almost a year after business was severely hit by pandemic-related disruptions; Future Group CEO Kishore Biyani expects normal sales to return by the end of January. The group, which operates... Read more

MOST POPULAR NEWS
Go to top

Follow Us On:

Face BookDealersForYou

TWDFUpublications

LNDFUpublications

YouTubeDFUpublications

 Copyright © 2020 DFU Publications. All rights reserved.