Several bricks-and-mortar retailers are slashing prices to liquidate merchandise, advancing their usual end of season sales by a month before the GST is rolled out from July 1.
While sportswear brand Puma is offering an extra 10 per cent off on the flat 40 per cent discount at stores, Allen Solly has a buy one-get-one free scheme in its Pre-GST End of Season Sale for members. Levi’s is giving away two items free on the purchase of two, while Flying Machine is giving up to 50 per cent off and Pepe Jeans is running a buy-three-get-three offer.
The move comes after the GST Council decided earlier this month that man-made apparel above Rs 1,000 will attract a 12 per cent levy, higher than the existing 7 per cent.
“The difference in the tax will be a big hit for the brand, so we want to keep the channel clean with lower inventory dues. We are doing this to liquidate merchandise before the new designed regime (GST) kicks in on July 1,” Kavindra Mishra, managing director of Pepe Jeans said
Sportswear brand Addidas also advanced its sales by a month kicking it off on June 2.” The sales season has been preponed due to GST and we have good sales till now” a company spokesperson said.
– Apparel and Textile News, Apparel Talk, Indian Apparel
