21 April 2022, Mumbai:
The resurgence of retail sales to 12 percent in March 2022, compared to the pre-pandemic level of March 2019, has made Arvind Fashions and Metro Brands more confident about growth prospects.
Retail sales in India grew 28 percent over the same month last year, as the government lifted pandemic-related restrictions.
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Kulin Lalbhai, Executive Director, Arvind Fashions adds, that marriages in the quarter along with the return to normalcy drove retail sales growth in March.
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Nissan Joseph, the CEO, of Metro Brands, adds that the apparel category, which experienced a 10 percent price rise is expected to experience another hike later this year.
There could be another price hike during the autumn-winter season, adds Lalbhai.
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CREDITS: Retailers Association of India (RAI) report.
