Home / Knowledge / News / Apparel/Garments / Consumers get ready for hikes in clothing prices!

Consumers get ready for hikes in clothing prices!

04
Oct '10
Food inflation has reached its zenith in recent times and now with festival months approaching, it could be the turn of garment prices increasing, burdening the consumer more, who is already bent under the weight of high food prices.

The main reason is cotton and polyester prices, which have been increasing with each passing month. Both these raw materials account for more than 80 percent consumption in the textile sector and now, it has become imperative for apparel brands to hike the cost of clothing.

Cotton prices have flared-up exponentially, despite the fact that the government had imposed a regulatory export duty on the commodity. The domestic prices have mainly been driven by the rise in international prices, which have touched historic 15-year highs.

Prices of Shankar – 6 variety of cotton which is grown in Gujarat and the one of the varieties which generates high demand from overseas markets has shot up from Rs 22,800 per candy (1 candy = 356 kg) in the first week of October last year, to Rs 38,000 per candy, now.

Garment brands opine that, it will not be possible for them to absorb the rising costs of production as fabric manufacturers too have been hiking prices in tune with growing prices of raw cotton or polyester, as yarn prices too have risen in tandem.

According to experts, it may be possible to increase prices in the domestic markets as demand is robust as well as purchases by consumers will increase, considering the up-coming festival and wedding seasons around the country.

But the same may not apply in case of garment exporters, since, the demand has not yet picked up in major overseas markets of the exporters, and it will be difficult to pass on these increased costs to the buyers under the circumstances.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Ritu Manoj Jethani / Shutterstock.com

Apparel/Garments | On 31st Jul 2021

US firm Steve Madden moves production to Mexico & Brazil from China

As supply chain disruption remains a significant challenge, American...

Pic: GBG USA

Apparel/Garments | On 31st Jul 2021

Apparel & footwear firm GBG USA files for bankruptcy protection

GBG USA, an indirect wholly owned subsidiary of Global Brands Group...

Pic: Shutterstock

Apparel/Garments | On 31st Jul 2021

Asian garment industry market concentration, consolidation rise: ILO

Although Asia's garment market rose in size in value terms before the ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Nantas Montonati,

Nantas Montonati

The Riri Group is a one-stop supplier of metal accessories for the luxury...

Rajat Kapoor,

Rajat Kapoor

Seraphine is a British maternity brand providing affordable luxury fashion ...

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

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

Leave your Comments


July 2021

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


Advanced Search