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Value fashion retail finds its fit while premium struggles to measure up

Embroiders a strong edge with affordability, scale, and a shift to organised retail

fashion, dress, outfit
premium

Structural tailwinds shaped FY25 — rising aspirations across Tier-II, -III, and -IV markets, the shift from unorganised to organised retail, deeper private-label penetration, wider ass­o­r­tments, and faster network expansion.

Ram Prasad Sahu Mumbai

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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