Home / Knowledge / News / Apparel/Garments / 'Apparel producers have no choice but to hike retail prices' – MD, Shoppers Stop
'Apparel producers have no choice but to hike retail prices' – MD, Shoppers Stop
02
Mar '11
Mr Govind Shrikhande, MD - Shoppers Stop
Mr Govind Shrikhande, MD - Shoppers Stop
“Apparel prices have a direct correlation to the cotton price. As cotton prices have zoomed abnormally, apparel producers have no choice but to increase retail prices”, said, Mr Govind Shrikhande, Managing Director of Shoppers Stop.

This was informed in an exclusive interview to fibre2fashion just a few days before the Finance Minister choked branded clothing by levying 10 percent excise duty. Now the retailers have been hit by a double whammy.

Raw material prices, mainly of cotton have doubled from a year ago. This has induced clothing retailers to hike their prices. The second blow came from the budget, in which branded apparels have been now been subjected to an excise duty of 10 percent.

Apparel brands will now have no option, but to increase their retail prices or face reduced margins. Mr Shrikhande believes the effective price hike would be in the region of 10-15 percent.

However Mr Shrikhande is optimistic that consumers will accept the price rise as this kind of price rise has happened after a long time and as consumer income is also rising at the same time, consumers would take this in their stride.

Fibre2fashion News Desk - India


Must ReadView All

Ghana to be top African apparel manufacturing hub: Minister

Apparel/Garments | On 22nd Nov 2017

Ghana to be top African apparel manufacturing hub: Minister

Ghana will turn Africa’s leading apparel manufacturing hub after the...

Maintain NAFTA trucking provisions: AAFA, US trade bodies

Apparel/Garments | On 22nd Nov 2017

Maintain NAFTA trucking provisions: AAFA, US trade bodies

The American Apparel & Footwear Association (AAFA) recently joined...

Vietnam’s textile & garment exports cross $24bn till Oct

Textiles | On 22nd Nov 2017

Vietnam’s textile & garment exports cross $24bn till Oct

Vietnam earned $24.372 billion from textile and garment exports in...

Interviews View All

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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