What I fail to understand is why they still compare with FY20! FY23 was a very normal base especially Oct22-Dec22, why do they not compare with it?
Plus their sales increase is always meagre and margins have started to decline, marginally but yes they are!
Their whole strategy is to open more stores and drive sales from data driven marketing and collection which does not seem to work so far. They are already in all the metros and Tier 1 towns of India. I doubt they will have a much customer base in Tier III and IV as compared to Tier I and II.
Wearing nice looking clothes in weddings isn’t a habit which they will inculcate in people. Just saw the interview of Vedant Modi, shared by another member an hour back, and he mentioned that almost 90% of their sales is wedding driven. I do not see a lot of optimism at this point of time with the subdued numbers one quarter after another!
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