Bestseller India to rationalise clothing stores after business resumes
Branded fashion retailer Bestseller India plans to rationalise its brick-and-mortar clothing stores in the country after businesses begin to re-open their stores.
Bestseller India’s clothing brands such as Vero Moda experience a halt in revenue during lockdown. As a result, the business plans to revaluate its offline presence after operations resume. “We need to relook at how many stores we actually need,” Bestseller India’s country head Vineet Gautam said during a webinar organised by the Retailers Association of India, TNN reported.
“Cash flows are really challenged, there is no revenue,” said Gautam. “Unlike Europe and other parts of the world where online was allowed and some operational revenue was coming in, we are not seeing any revenue at all.”
The nationwide lockdown is currently scheduled to run until May 3 but it is unclear when brick-and-mortar apparel stores will be able to re-open. Full manpower may not be needed in stores in the wake of the re-opening of non-essential retail businesses as consumer sentiment is expected to remain muted for some time.
The business conducted its first ever virtual town-hall meeting with over 1,300 employees earlier in the month, it announced on Facebook. The video call addressed over 300 employee questions. “In these times of uncertainty, communication and transparency is key,” the business said.
Bestseller retails through over 20 individual fashion brands globally including Jack & Jones, Vero Moda, Vila Clothes, and Mamalicious among others, according to its website. The business is owned by the Holch Povlsen family and has over 17,000 employees worldwide.
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