Decline in sales worries Ludhiana hosiery manufacturers

Ludhiana, Dec 26 (KNN) The hosiery industry in Ludhiana is staring at losses due to lower offtake of garments because of the delayed winter, according to a report in the Hindu.

The weak demand for winter clothes has forced the hosiery industry to offer discounts in early December to attract customers at retail counters and clear the stock. Usually the big brands in the sector begin to offer discounts in the last week of December or first week of January, say the industry.

October, November and December are considered the key months for Ludhiana's hosiery sector which is one of the oldest clusters in the country.      

The key markets for the hosiery industry are Punjab, Haryana, Delhi, Himachal Pradesh, Uttar Pradesh, Rajasthan, Jammu and Kashmir, Bihar and some north eastern states. The industry is famous for winter garments like jackets, sweaters, thermals, cardigans, pullovers, inner wear, shawls etc.

As per reports, some manufacturers are already fearing non-clearance of existing stocks and are offering 10-20 per cent discounts on winter wear.

Though minimum temperatures dropped in many places in the northern region in the past few days, the hosiery industry is hopeful that the demand for winter wear may pick up which will help in clearance of some existing stock.  (KNN Bureau)