- Fabindia expects a stronger 2021 holiday season than last year, but sees difficulties in the footsteps
- Fabindia plans to launch a sub-brand named ‘Fab Essentials’ by October in the personal care segment
- Due to high cotton and input prices, Fabindia claims to find a balance to compensate for the shake for customers as well as for businesses
After a tumultuous second wave, companies are now basing their hopes on the holiday season to increase lost sales. With the increase in vaccinations and the easing of restrictions linked to the pandemic, retailers expect a rebound in consumer confidence to boost sales.
Ethnic furniture clothing retailer Fabindia Overseas expects a stronger 2021 holiday season than last year. Ajay Kapoor, Retail President of Fabindia Overseas, said And now, “If we take Onam as an example to define the holiday trend, we see a growth of 10% compared to 2019.”
Although few states like Kerala have witnessed more than 10,000 cases of COVID-19 in a single day, the trajectory of the rising infection rate remains of concern. Kapoor says, “Despite improvements in invoice values and basket sizes, attendance tends to be low at 60%. “
Fabindia has 311 stores in 118 cities in India and 14 stores abroad. In order to minimize the lockdown hit caused by the pandemic, Fabindia shares a bullish tone on store consolidation over the past year due to higher occupancy rates and a lower delta. From ethnic fabrics to furniture, Fabindia emphasizes hand-woven products made by artisans in rural India.
Regarding products that are in high demand, Kapoor says, “Clothing is making a smart comeback with 80-85% of 2019 levels, while home and lifestyle continues to experience decent growth. “
In the personal care segment, Fabindia plans to launch a sub-brand called “Fab Essentials” by October, in line with Forest Essentials, the Biotique brands present on the market.
Due to the high prices of cotton and inputs, Fabindia claims to find a balance to compensate for the shock for customers as well as for businesses. Kapoor says, “We aim to convey fare benefits wisely to customers by offering cash back rewards with recurring credit card subscriptions. The right balance must be struck to neutralize the impact of soaring prices on customers as well as on businesses. ”