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

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.