India Coronavirus Dispatch: Time to rethink, transform our cities
Covid impacts medical research, infections rise in Indian jails, and what Pune's sero-survey tells us--a roundup of news on how the country is coping with the pandemic
)
premium
A health worker wearing PPE holds a sample test tube for Covid-19 test, in New Delhi on Friday
Fashion woes: Until mid-March, India was the most attractive market for the fast fashion segment. Leaner supply chains, Chinese imports, young workforce and celebrity/influencer endorsements meant the fashion retail segment was having a good time. That is until Covid hit. Now malls look like dystopian landscapes with most stores closed and a permanent scent of sanitiser in the air. In July, sales at high street stores dipped 50 per cent from the year-ago period. Besides, debt is a key factor weighing heavy on retailers. Also, the fact is that 80 per cent of organised fashion retail in the country operates on lease — either on malls or in high streets. While some high street landlords were amenable to reducing rent, the malls started bringing in agreement clauses to the conversation. For now, retailers are just hoping things can go back to business as usual. Read more here.
Topics : Coronavirus Indian cities retail malls