NEW DELHI : Apparel retailers are now gearing up for their summer collections in the hope of getting close to their 2019 business by middle of next year as they recover from dismal formal wear and occasion wear sales owing to the pandemic and subsequent lockdown.Retailers saw a surge in work-from-home attire as customers scrimped on formal clothing in the absence of office routine and social occasions.
Apparel retailers are expected to close FY21 with a 40-45% decline in revenues, India Ratings and Research (Ind-Ra) said in a November report.Also Read | Inside the rumble in India’s coding jungleRetailers are entering the next year with a sense of caution, better digital presence and planning their inventory in moderation.
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