Hosiery industry witnesses boom
After the claims of losses in hosiery industry last year, this year seems to have brought joy to majority of the manufacturers as well as retailed in hosiery business.punjab Updated: Nov 29, 2014 20:42 IST
After the claims of losses in hosiery industry last year, this year seems to have brought joy to majority of the manufacturers as well as retailed in hosiery business.
With the winters almost set in, the demand of hosiery products has increased manifold now. Hosiery manufacturers were also pumping the stocked goods into the market with retailers doing brisk business. Almost every year hosiery industry claims that they suffer losses due to different reasons.
There were apprehensions that due to floods in Kashmir, the hosiery industry would also suffer severe losses, as they used to send woollens to Kashmir every year. However, only a small part of the valley was affected due to the floods, so there would be a little impact on city hosiery industry.
Marriage season has also given a boost to the retail of hosiery goods. Interestingly, several companies have decided to start stock clearance sale on their products in January, instead of February to attract more and more buyers and also to clear the stocked goods.
Sudershan Jain, president, Knitwear and Apparel Manufacturers Association of Ludhiana (KAMAL), said the industry was earlier in panic due to the experience of last some years when the industry suffered losses.
“With the onset of winters in most of the parts of the country and marriage season in full swing, the market has seen an upward movement,” Jain said.
Jain, who also owns Oner clothing brand, said retail business was witnessing a positive trend now-a-days as a result manufacturers were also being benefitted.
The trend is seen as a revival in retail after the online websites and portals threatened the retail of hosiery products. Though online sale of the products has not witnessed a decline, it has not been able to severely impact the retail sector against the apprehensions sometime ago.
Ludhiana has at least 11,000 small and large hosiery units that also exports woollens. Being an unorganised sector, the exact turnover of the industry could not be estimated, but is almost Rs 12,000 crore every year.
Production at the hosiery units start in April every year, and continue till November. But some units continue production till December depending upon the demand of woollens.
Knitwear Club president Darshan Dawar said the retail of hosiery products would increase after December 15 when winter would intensify.