Polyester spike squeezes value apparel chains; V-Mart, Vishal, KKCL guard ₹199-399 price points
Crude-linked yarn up 10-15% threatens 5-7% apparel price impact, but price-sensitive shoppers cap pass-through. V-Mart Ebitda 10.9%, Vishal 13.6%, KKCL 19.1%. Retailers lean on private label (Vishal 74%), premium lines and small-town expansion. Stocks down 4-11% YTD.
Indian value apparel retailers V-Mart, Vishal Mega Mart and Kewal Kiran face margin squeeze as crude-linked polyester yarn costs jump 10-15%, while price-sensitive customers limit pass-through. Retailers protect entry price points, lean on private labels, premium lines and small-town expansion.