Whalesbook
India's apparel and footwear retailers experienced a subdued festive season despite recent Goods and Services Tax (GST) rate rationalization. Companies like Bata India and Trent Ltd reported revenue declines or muted growth, attributing it to consumer purchase deferrals ahead of the tax changes and weak discretionary spending. In contrast, premium brands such as Metro Brands and Aditya Birla Fashion & Retail Ltd showed resilience with steadier demand. Analysts anticipate a gradual positive impact from the GST benefits over the next year.