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Published
Jan 4, 2018
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Fashion brands see 20 percent surge in sales during festive season

Published
Jan 4, 2018

Fashion brands have witnessed a 15-20% surge in sales during the year end festive season period in December due to the heavy discounting model adopted by most leading fashion retailers in the country.
 


In order to compete with the heavy discounting model adopted by e-commerce firms, retailers too this year have resorted to discounts which have paid off for most retailers resulting in boost in sales which is likely to reflect in the Q3 (October to December period) results of the companies.
 
Last year, during the same period the sales of most firms took a beating due to demonetisation in November with fashion retailers posting poor results during the period last fiscal.

However, the heavy discounting model with up to 40% to 50 % discount offered by leading brands like Benetton, Arvind Lifestyle, Mango, Marks & Spencer have managed to revive the fortunes of most retailers.
 
“It has been fantastic. We would have grown by 30% over last year’s period. We are not selling festive merchandise and we are selling old merchandise,” Alok Dubey, the chief executive Arvind Lifestyle Brands told the Economic Times.
 
Puma saw about 20% sales growth over last year even though sales had been flat in western India”, Puma India managing director Abhishek Ganguly said.
 
“Benetton has already launched SS18 (Spring, Summer) in quite a few stores and this year we expect to end EOSS (end of season sale) sooner than the last year,” Benetton India managing director Sundeep Chugh said. “The season has been faring as per expectations and Benetton’s sale period is aligned with the market,” he added.
 
Even though these brands sell their products on e-commerce firms, the revenue generated is very less with online contributing 10% to 20% to the overall sales of most brands.
 
 Brands generate majority of its revenue from physical stores and are willing to cut down on its margins by offering discounts in order to expand customer base and remain competitive in the market.

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