Lawrence & Mayo to go slow on expansion on GST worries

In 2017-18, Lawrence & Mayo hopes to clock 15 per cent growth in sales

Leading optical retail chain Lawrence & Mayo said it will go slow on expansion due to concerns on higher GST rates. From the lower VAT rate of five per cent, optical products including prescription eyewear and lenses now attract up to 28 per cent tax under GST.

"We are taking humble steps (on expansion) due to GST and demonetisation. The demonetisation hit us substantially but we could still grow at the rate of 11 per cent in last financial year. The entire industry is acting with caution on expansion as more clarity is waiting to emerge on GST rates and its