ICICI Securities: Branded Apparel 2021 Outlook - Cautiously Optimistic
A woman browses clothing inside a fashion store in Chennai, Tamil Nadu. (Photographer: Sanjit Das/Bloomberg)

ICICI Securities: Branded Apparel 2021 Outlook - Cautiously Optimistic

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Apparel retail companies are likely to see gradual demand recovery in CY21 with concerns around Covid-19 may recede by mid-CY21.

After sharp more than 40% YoY decline in CY20, revenues may inch towards CY19-levels in CY21.

Companies have partially resumed purchases for spring/summer-21 collections, given demand optimism seen during recent festive sales.

Most companies strengthened their balance sheet in CY20 via equity raise and are likely to resume aggressive expansion in CY21 as the market is still hugely unpenetrated.

Online/e-commerce sales seem poised to continue the growth momentum seen in CY20

Click on the attachment to read the full report:

ICICI Securities Branded Apparels Outlook_2021.pdf


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