Home / Knowledge / News / Apparel/Garments / Apparel costs to witness surge in spring next year
Apparel costs to witness surge in spring next year
28
Jun '10
Although, an average woman spends about £1,000 per year on apparels, the trend is soon to change as retailers warn that the cost of apparels is likely to rise, by the next spring season, for the first time, in years.

A budget-clothing firm has declared that costs are likely to increase by as much as 5 percent owing to increase in cost of transport, weakening sterling and the supposed rise in VAT from 17.5 percent to 20 percent from January 2011.

Although, the idea of surging VAT charges has been rejected by major business firms, consumer groups and charities, George Osborne stands on his decision of increasing VAT, stating that, eons of debt and expenses have made this unavoidable.

While experts from the retail industry opine that rise in VAT charges is not a welcome sign, economists believe that, it is one of the easiest ways to earn extra income.

More so, as per the reports of the Office for National Statistics, since 1991, there has never been an increase in the prices of apparel, although, last year, garment prices slipped by 7.7 percent.

Cotton-based apparels such as t-shirts, dresses and shirts, will be the worst hit owing to hike in prices, as international prices of cotton have surged due to shortage.

Meanwhile, some apparel firm owners are hoping that, garment prices are likely to increase by 5 percent, whereas others are of the belief that, it will witness a rise of atleast 2.5 percent.

The bottom-line is, women are likely to find it difficult to pick up a good bargain for their favourite apparels, in the coming year.

Fibre2Fashion News Desk - India

Must ReadView All

Apparel/Garments | On 27th Apr 2017

Boohoo's revenue increases 51% to reach £294.6 mn

Fashion e-commerce marketplace Boohoo has recorded a 51 per cent...

Apparel/Garments | On 27th Apr 2017

Amazon catching up with Flipkart in India: RedSeer

Online marketplace Amazon India has caught up with its biggest rival...

Textiles | On 27th Apr 2017

Seven new organisations join ZDHC Programme

The Zero Discharge of Hazardous Chemicals (ZDHC) Programme from...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search