Clothing brands to reduce festive discounts due to higher expenses: Report
Clothing retailers are scaling back on major discounts during this festive period as increased costs for manufacturing, shipping, and packaging put pressure on their profits. Kumar Rajagopalan, CEO of the Retailers Association of India, anticipates double-digit growth in sales driven by stronger consumer sentiment, even though profit margins are likely to stay tight. Additionally, brands are dealing with labor shortages and are shifting their strategy toward offering more exclusive merchandise.
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