Dec '08
People are now confronting job cuts and a sense of financial insecurity is creeping up in their minds. The younger generation few months back was spending lavishly on their apparels, footwear, foods and other products, has now pulled back their hands from superfluous expenditure.
The retail industry that helps in accelerating the economy of the country, currently is facing a fairly difficult situation.
Now that crude prices are going down, market experts are expecting that it might help the industry to take a U-turn and regain its previous glory very soon.
Mr D P S Kohli, Chairman, Koutons, while speaking exclusively to Fibre2fashion.com, regarding reduction of fuel charges and its benefit to the industry, told, “It is difficult to comment about the impact on the retail industry, whatever benefit we will generate from this fuel reduction, it surely will be passed on to our consumers.”
Indian fashion brands have definitely carved a niche for themselves in the international markets. “The increased fashion consciousness and the need to look good, coupled with higher purchasing power of the masses, will definitely take the industry to heights in the days to come. With the dissolving of the boundaries, the market is opening up and I think we can get opportunity anywhere,” stated Mr Kohli optimistically.
Speaking on the Indian fashion retail scenario, the Koutons Chairman avers, “We realized that while on one hand the meltdown has hit the bigger cities and metropolitans, on the other tier II and III towns have shown acceptance and increased fashion awareness. Hence the market is growing especially geographically in the organized retail segment.”
Fibre2fashion News Desk - India
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