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No rate cuts with fall in cotton prices – Carter's CEO
02
Mar '12
In spite of the fall witnessed in cotton prices since late 2011, it is unlikely to result in any relaxation in prices of children's apparels, according to Michael Casey, Chairman and CEO of Carter's, a leading children's clothing brand.

Mr. Casey said the cost increases were only partially transferred to consumers last year, as a tough economy did not allow them to greatly raise the prices of their products.

The Atlanta-based firm's CEO ruled out reduction in prices of cotton clothing as he expects fuel prices to escalate and the cost of hiring workers to keep rising. The firm also wants to increase its earnings on sales, he added.

The firm's sales volumes grew by 21 percent during 2011, and orders for baby clothing and playwear for next season are also good. An improvement has been noted in sales of girl's playwear, which was struggling, however sleepwear continues to underperform.

Carter's online sales rose above US$ 70 million, much above its expectations during last year. Over the next five years, the company intends to launch 300 new outlets, while retaining its focus on online trade.

Fibre2fashion News Desk - India

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