Comparatively higher temperatures during the ongoing winters have hit Punjab's hosiery and shawl industry badly with manufacturers and sellers fearing major dent on their sales in the wake of lower offtake of winter garments.
Despite 20-25 per cent lesser production this year by Ludhiana's hosiery industry in the wake of old stock, the current winter season has failed to rev up sales as not many customers are turning up for buying hosiery and winter garments in the absence of intense cold wave in the region, industry rues.
Lower demand for winter garments has forced retailers to offer heavy discounts on hosiery items much early to clear their stocks, adding to industry's woes which are complaining of not getting repeat orders from wholesales and retailers.
"There is a slump in hosiery industry this season because of the lack of cold wave conditions in the northern region," Duke Group Chairman Komal Jain told PTI today.
Launched in 1966, Ludhiana based Duke is a premium lifestyle apparel brand, offering full ranges of clothing for men, women, and children.
Minimum temperatures in the most parts of Punjab and Haryana are hovering around 5-6 degrees above normal for the past one week.
"This has been the worst winter season ever witnessed by the local industry as our buyers are failing to register good sales this time," Ludhiana Hosiery Association President Navin Sood said.
Not only this, wholesalers are threatening manufacturers to take back their goods in case hosiery goods makers demand payment for the supplies, he further informed.
Echoing similar sentiments, Mridula Jain, Vice Chairman of Ludhiana based Shingora Shawls, said, "Sales must have been affected in the range of 20-30 per cent in the shawl industry alone and in case of hosiery, the impact may be more (because unfavourable weather conditions)."
Shawl industry in Punjab prominently located in Ludhiana and Amritsar is estimated to be about Rs 250 crore, industry insiders say.
"The weather this year has disappointed us and industry people are feeling the pinch," she said adding, "there is going to be Lohri festival on January 13 and we are not experiencing cold wave."
With current weather conditions not being in favour of industry, retailers have started offering heavy discounts on sales to attract customers.
"Heavy discounts on sales have already started on hosiery and winter garments items to clear stock even as productions were lower by 20-25 per cent this season. There is not going to be profit for industry," said Vinod Thapar, President, Knitwear Club.
The key markets for hosiery industry are Punjab, Haryana, Delhi, Himachal Pradesh, Uttar Pradesh, West Bengal, Chhattisgarh, Jammu and Kashmir and some North Eastern states.
Ludhiana is one of the oldest hosiery clusters in the country and is famous for winter garments like jackets, sweaters, thermals, pullovers, inners, shawls etc.
