Relaxo Footwears sees rise in demand for products priced Rs 500 & above
01 August 2022, Mumbai:
Footwear retailer Relaxo Footwears is seeing a growth in demand for products priced at Rs 500 and above, says Rakesh Kumar Dua, MD, Relaxo Footwears. Currently, inflation is high although raw material prices have softened, adds Dua.
The worst sufferers are the masses although demand for articles used by the middle class continues to grow despite inflation, he adds.
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The company’s margins are under pressure as raw material prices are high. However, softening of prices in coming quarters will boost margins, he opines. Dua adds decline in inflation is likely to boost demand for its products as people will be able to buy more footwear.
People abstain from buying more footwear during inflation due to the limited flow of money.
Once inflation goes down, again and money is available in the market, products will become more affordable and demand will increase.
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