The 12 percent rupee decline against the U.S. dollar has surged the prices of international retail brands across the country, reports Anshul Dhamija of TOI.
Autumn-Winter, a season most of the shoppers love will witness a price hike in most of the international brands by atleast 10 percent. Infact, German sports wear Puma has increased their prices by 30 percent from past 6 months. Rajiv Mehta, MD, Puma India says that “So far, we haven’t passed on the burden to consumers, but this Autumn-Winter season we will increase prices by about 10 percent”.
Brands like Tommy Hilfiger, Mango, Promod and Zara which are international apparel and accessories brands are also looking forward to revise their price hikes in the next few days.
Reliance Trends which is owned by business tycoon Mukesh Ambani is also looking at a price revision from the next full price fashion season.
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