Apparel demand recovery exceeds pre-COVID levels, say industry leaders

14 April 2022, Mumbai:

Recovery in apparel demand has exceeded pre-COVID levels in the lifestyle space, says Amit Agarwal, Chief Financial Officer, Raymond.

The average retail prices of apparel have increased from Rs 3,200-3,300 to Rs 3,700-3,800, he adds.

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Average apparel prices across stores and exclusive brand outlets (EBOs) have surged almost 20 percent, he adds. Prices of Raymond apparels have also increased. Average expenditure in the wedding industry has increased by 15-25 percent he adds.

Kumar Rajagopalan, CEO, of Retailers Association of India (RAI), affirms, that apparel demand has surged by 12 percent compared to pre-pandemic levels.

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The value segment is witnessing a stiff margin pressure while the luxury segment is witnessing a resurgence as marriages are happening and people are once again travelling to places, he adds.

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