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01-December-2015

Giant brands with turnover of above Rs 300 crore have done better with higher sales turnover and lower inventory holding, according to Clothing Manufacturers' Association of India's (CMAI's) Apparel Index for the July-September quarter.

The industry has maintained its growth tempo with overall index value at 6.68 points, which is approximately 56 per cent higher than the index for small brands (with turnovers between Rs 10 to 25 crore) which stood at 4.28 points. For mid brands (with turnovers between Rs 25-100 crore), growth is 7.7 points. In fact, mid brands performed much better than small brands, but it's the large brands (with turnovers between Rs 100 to 300 crore) with 8.95 points and giant brands (with turnovers of above Rs 300 crore) with a high index value of 9.15 points that have shown real growth.

This clearly indicates that mid, large and giant brands are doing much better compared to the small ones. Index pattern this quarter, much like earlier quarters, reflects that as the size of brands go up, the performance improves. Interestingly, mid brands are racing ahead to catch up with the growth momentum of large and giant brands. The gap between the growth rate of small brands and mid brands is considerably higher than previous quarters.

The Apparel Index shows that the sales turnover also increases in the same pattern as the size of the brand. For small brands, growth in sales turnover is just 3.38 and it grows on increasing. For example, for mid brands, it is 5.19, while for large, 5.33 and giant brands, it is 5.54. This pattern follows a reverse order in case of inventory holding, clearly indicating the impact of sales turnover and inventory on the company's performance.

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