Listed value fashion retailers pulled ahead of premium and branded apparel in 2024-25 (FY25) and are well positioned to sustain strong growth in 2025-26 despite a high base. Trent remained an outlier, but most branded and premium retailers delivered subdued revenue growth in the January-March quarter (Q4) and across FY25.
Their robust operational performance came through in stock returns: the four value fashion retailers — Vishal Mega Mart (VMM), V-Mart Retail, Baazar Style Retail (Style Baazar), and V2 Retail — gained an average of 19 per cent over the past three months, versus 10 per cent for premium and branded

)