Furrowed brows and confused chieftains: tackling the apparel challenge 1

It was a bright, wintry day in the year 2009 as the CEO of Casper Retail strode purposefully
into his plush cabin. Despite the presence of air-conditioning and a comfortable atmosphere
within the office, Dinesh was worried about the apparel division. It was well staffed, had lots
of professionals working with others who had come from the business community. On the
surface, things looked good. But the bleak outlook presented by the supply chain department
was causing several concerns within the top management. Dinesh felt that with four
hypermarkets, the apparel team had more than doubled in size. While the first two
hypermarkets were operational, the apparel team size was eight; the present situation had the
apparel team consisting of twenty members. Margins were at a healthy 35-38%; however, the
private labels and the brands were proving to be a big headache. While the private label sales
were abysmally low, the brands posed a different problem: their owners had to be paid faster.
The inventory was another key area of concern. The industry benchmarks suggested that the
business had to be run with 90 to 120 days of stock. However, the current situation indicated
that the inventory was sufficient to cover about six months of sale. As the CEO mulled over
these facts, he also started going over some of the recent spreadsheets that were presented
along with other information over the course of the previous weeks meeting. He scheduled a
meeting with the Head of Apparel and the Supply Chain Head for 10 30a.m. Then, brushing
aside these concerns, he briskly pressed a couple of buttons for his first caffeine fix of the day.
People in key positions
Raghavan came from an apparel manufacturing background. He had the experience of running
his own firm though it was for a limited period. By education, he was a textile engineer. He had
worked for several companies in Tiruppur, the hub of knitted garments manufacturing. He was
heading a part of the apparel business and reported to Praveen who was the Head-Apparel.
Praveen had two decades of experience out of which a large part was in handling an Export
Oriented unit at Indonesia. Export units are concerned more with churning out high volume of
production with lesser number of styles. A style is anything that has a defined design: for
instance, a shirt with blue stripes is one style; a shirt with grey stripes is another style. Export
units faced tremendous pressures from their American customers. A lot of orders came from
Europe and America. Since labor was available at affordable rates in South East Asian
countries, a lot of retailers in the western world preferred to outsource their production to these
countries. Praveen had also run his own firm briefly; this firm specialized in selling high-end
perfumes
Tejas came from a supply chain background. Armed with a post graduate degree from SP Jain
Institute of Management, he had worked with companies such as Marico and Pepsi. He had

1 The organization featured in the case is a registered entity; the name has been
masked to retain confidentiality. All details are factual and based on the case
writers observations. The names of key people have also been masked to retain
confidentiality.
1

also spent several years with Infosys where he was the Principal consultant for the retail
domain. He had overall work experience of about 12 years.
Team Structure
The first set of hypermarkets came up in 2006-2007. During that time, the team structure was
relatively simple: Raghavan headed the apparel team. His team consisted of one category
manager each for menswear, ladies wear and kids wear. Each category manager had two buyers
reporting to them. Suraj was the category manager for menswear; Ganesh handled kids wear
and Roli handled ladies wear. The buyers were from the business community. Many of them
had families who were engaged in the wholesale trade in garments. Hence their roots were
strong; besides they could negotiate terms and conditions with a degree of unparalleled ease
since they had a good working knowledge of the products (fabric, texture, finish) as well as the
monetary aspects.
However, with the induction of Praveen in early 2008, the CEO thought the team should be
strengthened. Considering that Praveen had prior experience handling large production teams,
his team had designers in addition to the earlier existing set up. In this regard, a chief designer
was hired for each of the categories. Each chief designer had about three members who were
designers for specific products such as shirts, trousers, t-shirts. Since most designers were from
fashion industry background, the environment was slowly turning more cosmopolitan.
The supply chain team however was small. Tejas handled Supply chain across categories. The
other categories that were present at Casper were general merchandise (plastics, cookware,
etc), meat, fruits and vegetables, fast moving consumer goods (FMCG) grocery, furniture,
home furnishing, toys and books. For apparel, Tejas had a team of two people. The first
member was a supply chain manager for apparel; the second person reported to the supply
chain manager. The junior member handled routine transactions and was also responsible for
quick analysis, reports using spreadsheets. Additionally, Tejas was also in charge of the
warehouse and all issues relating to transportation. Shenoy, the head of logistics reported to
Tejas. Shenoy had a large team since warehousing called for a lot of routine, transactional
issues and dealt with a lot of physical activity as well.
Similar structures were present for the other categories with one main exception: the other
categories did not have designers. The focus was on buying and selling at a profit. Hence the
other teams had people who had prior experience in the trade, merchandising experience as
well as other related skills. Most of the teams relied on people who had good negotiation skills
in addition to knowledge of the specific business.
The Casper Hypermarket
Towards the end of November 2009, there were 4 hypermarkets and two supermarkets
operated by Casper retail. The supermarkets were in the process of being shut down. The
management as well as the promoters in Delhi observed that there was no real traction and that
sales had stagnated. Even though they had been functioning since 2002, the recent flood of
organized retail outlets had lured away customers towards better formats.
2

The hypermarkets were seen as the next growth engine. Casper operated 4 hypermarkets in
Bangalore. The first one was in Mysore road, functioning as a separate entity within a mall.
The second one was at Madivala, the third was operational at Sarjapur road and the fourth was
at old airport road. The hypermarkets typically occupied anywhere between 40,000 to 1,00,000
sq.ft of retail space. While Casper Retail usually occupied the 1 st and 2nd floor at any given
location, the ground floor was leased to various tenants.
Tenants on the ground floor were usually a blend of apparel and footwear stores. Plus, anchor
tenants such as McDonalds, KFC and Pizza Huts were also given preference. Anchor tenants
ensured that a lot of customers walked into the mall. The management of these tenants was also
with Casper Retail. This division functioned separately with a General Manager and his own
team who also reported to the CEO. This division generated rental income and had to manage a
lot of legal issues with related to leases, rental agreements, collection of rent and management
of facilities such as common area maintenance, hygiene and provision of security guards.
The Business Environment
Several hypermarkets were operating in Bangalore posing stiff competition to Casper Retail.
Prominent among them were Max hypermarkets, Spar, Aditya Birlas More Superstore and
several others. Most of them occupied large spaces in malls which also had other stores. Hence
customers flocked to these malls to shop, eat and celebrate (according to the Central mall,
managed by the Future group).
The location of these malls was perhaps the most important factor in drawing customers. A
mall which had parking facility for 400 cars could draw better crowds than a mall which had
parking slots for just 100 cars. The Sarjapur Casper store had parking facility for about 300
cars. Hence customers were happy to hang out at the mall, make a few purchases and head
home. The weekend footfalls at the malls were at least three times the footfalls on week days.
A mall centrally located could draw better footfalls. Forum and Garuda malls in the heart of the
city bore testimony to this feature.
CASPER RETAIL: WORK FUNCTIONS IN APPAREL
Buying & Merchandising Team
There were several products within each category. For instance, the mens wear category
consisted of shirts, trousers, t-shirts, jackets, inner wear, socks and accessories. The womens
wear category contained sarees, fabric sets (had to be stitched before wearing), SKDs (salwarkameez-dupatta), a ready to wear garment, innerwear and accessories. Similar products were
also present within kids wear.
The buying team which had category managers were engaged in one of the processes: they had
to source garments which could be then sold in the store at a profit. This called for a buying
process where they would call different suppliers who would then showcase readymade
garments. The buyers along with their category managers would select suitable styles that had
3

good sales potential. Often, there were multiple suppliers for a single product. This was to
offset any risks of poor supplies; besides it ensured that completely different fabric types and
styles could be sourced. Often the credit periods ranged from 60-90 days. In case of suppliers
who were well known, these credit terms extended to even 120 days.
The Design team
The design team was primarily tasked with developing styles for a private label brand. This inhouse brand was planned to be sold in all the hypermarkets of Casper Retail. In the middle of
the year 2008, the management had given a free hand to Praveen; Praveen decided on the name
Madison Street for menswear, Bangles for ladies wear and Stitches for kids wear. The
private label brands were subsequently launched during the festive season of 2008. Most of the
garments were in stores by November 2008.
The process was a fairly detailed one. The designers had to create sketches; these sketches
would then take the form of fabric swatches (made by textile mills) who would then get the
fabrics ready. Some of these would then get stitched in various contract factories situated in
and around Bangalore. Praveen had a Quality control team which had to monitor the quality of
stitching, check specifications of garments and ensure on-time delivery commitments. A
different process was also prevalent. There were several companies who specialized in
supplying finished garments once the fabrics were selected. These small firms would meet the
designers and upon selection of fabrics proceed to convert them into finished garments.
However, there was a unique challenge in the case of private label manufacturing. The
factories would not accept orders below a minimum of 100 garments. However, the size of the
business was such that ideal quantities would range between 40-60 garments per style. This
caused Tejas to launch an investigation of sell-throughs of private label garments. Sell-through
is defined as the number of units sold as a percentage of units bought. A particular design of
shirt could be expected to sell 60-70% of the total quantity bought, provided it got a shelf
exposure time of about 90 days. The remaining would be in odd sizes (for instance, a style
which had sizes 39 and 44 only in a shirt) which could not be sold easily. Hence the apparel
trade resorted to discounting at least twice during the year. It was no different in Casper Retail.
Discounted sales were announced in February-March and also during July-August every year.
The third type was the management of brands, such as Peter England, Gini & Jony and Biba. A
large cluster of brands occupied shelf space within Casper Retail. Buying or selecting the
options was a simpler process. However, the owners of brands, who were companies such as
Madura Garments, Arvind Fashions etc had their own set of problems. Often, Casper retail was
a small portion of the business for them. Hence, they would try to send older merchandise or
merchandise which they were unable to sell in their various outlets. For instance, a design
which was incapable of selling in a Peter England exclusive store would be sent to Casper
retail. Another issue was to do with payments. Several brands demanded advance payments. A
few others asked for payment within 30 days. Brands were managed by a single person, Aftab
who reported to Praveen. He was, however free to engage the category managers and designers
in the selection process.

The supply chain team

The team consisted of two people. One of them was the supply chain manager, Tom and his
subordinate Achal, who reported to him. The roles here were a mixture of transactional and
analytical ones. In the early part of 2008, Tejas had, under the advice of Tom requested the
apparel buying team to provide a list of core items. These items could be products which had
a predictable demand throughout the year. For instance, innerwear, handkerchiefs and socks
could be categorized as Core. These products, Tejas argued, could be managed relatively well
by the supply chain team. Achal would place orders with the various suppliers, manage the
receipt and dispatch of goods to the stores. He would interface with the buying and
merchandising teams to finalize the products, understand possible intricacies, if any and
proceed to manage it on his own. Tejas who also managed the Fast Moving Consumer Goods
business within Casper was confident that they could follow similar principles for the apparel
core products. The latter half of 2008 saw a new addition to the team: Sangeetha. She was
tasked with the analytical content of the team, while Achal would continue to focus on the
transactional issues. Tom would spend more time discussing issues with the apparel buying /
design / brand teams and driving action plans from the perspective of supply chain.
A large portion of Toms attention, time and effort was spent in analyzing the movement of
inventory, sales patterns and driving suitable action agenda for specific merchandise. One of
the daily and weekly tasks was in checking and tabulating inventory received in the warehouse
from various suppliers. Subsequently, Tom ensured that all these stocks were ordered from
various stores and dispatched without delay. This called for a close coordination with the
warehouse team. The apparel warehouse manager, Senthil reported to Shenoy, the Head of
warehousing and transportation. Tom used to visit the warehouse often to observe the inventory
movement.
One of the more complex tasks undertaken by Tom had to do with analysis of sales and
inventory. This called for classifying the stocks based on their age. Stock which had been lying
idle in the stores and the warehouse for more than 120 days (without selling) was classified as
non-moving or dormant merchandise. Stock that was about 0-60 days old usually had selling
potential. Additionally, identifying cut sizes and oddments was a more cumbersome task since
the merchandise had to be physically verified. Any design which had only the extreme sizes
was categorized as oddments. For instance, in the trouser category, a navy blue, striped trouser
which just had two pieces, in sizes 28 and 40 inches, for example, had very low sales potential
as opposed to another trouser which had a piece each across sizes 30, 32, 34 and 36. Sizes 32
and 34 were called pivotal sizes since 50% of consumers fitted into either of these sizes.
Similar pivotal sizes in the case of shirts were observed to be 40 and 42. Core items were
excluded from Toms analysis. Every week, Toms role was to thrash out these issues with
Tejas, Raghavan and Praveen.
Being a very fickle category, the apparel buying team also had to take some tough calls. For
instance, a particular product within mens wear may have shown poor sales (compared with the
target) the previous month. The team would sit with Tom, understand the sales and inventory
5

pattern of this particular product and then proceed to take suitable action. This would need to
be done by physical observation of the merchandise since the spreadsheets would only show
the item codes. For every product, a suitable item code would be generated by the buying team
before the stock was received in the warehouse. This item code would be part of the bar code
stickers affixed to the garments. It would also feature in any reports taken from the software
package Baan.
Being a small organization, the payments to suppliers were erratic and did not follow a set
pattern. This would cause suppliers to delay deliveries for certain essentials products such as
core items. The immediate impact was felt in the stores: stock outs and angry customers. The
management was aware of this problem and made half-hearted attempts to handle these issues.
The need, though was for better planning of payments in line with the deliveries of suppliers. A
different kind of analysis done by Toms team led to the buy plans which were done on a
monthly basis. Spreadsheets were used to do a simple forecast for the subsequent three months;
often a one month forecast was the only planning activity that was undertaken; the apparel
team did not believe in forecasts and hence a lot of buying happened at a weekly level; buying
often happened very close to the season.
Warehouse Team
The warehouse team led by Senthil was more focused on routine activities: receiving of goods,
temporary storage on the shelves and subsequent dispatch to the stores. The Baan software
helped record transactions on the system. Subsequently, this information was integrated with
the inventory records checked by finance personnel and also helped facilitate payments as and
when they became due.
Being proactive, Senthil highlighted issues of quality, wrong receipt of goods and any
abnormalities in the merchandise. He had spent close to a decade with an export oriented unit
before joining Casper Retail. His team consisted of three: Naresh, Sathish and Ramalingam,
each managing ladies wear, mens wear and kids wear respectively. Physical audits of inventory
were held every quarter. System and physical stock were checked; any deviations were
reported. Since the warehouse team was meticulous with every unit of apparel that was
handled, such deviations were rare.
DETAILS ON SALES AND INVENTORY
The peak sales achieved by the apparel department was Rupees 3.09 crores across all
hypermarkets in the month of October 2009. Oct 17th was Diwali day and the entire consumer
market was expected to have contributed to retail sales. The sales at Casper hypermarket
reflected this trend. The contribution of mens wear, ladies wear and kids wear were 99 lakhs,
144 lakhs and 66 lakhs respectively. The previous month, September saw total sales across the
four stores at 2.45 crores. The gross margin generated in October was 1.02 crores; the
corresponding number for September was 83.34 lakhs. The quantity sold across September and
October were 89,645 pieces and 102,329 pieces respectively. Typical sales for an average, nonfestive month across the four hypermarkets were in the region of 35 lakhs, 75 lakhs, 50 lakhs

and 60 lakhs across the stores at Mysore road, Madivala, Sarjapur road and Old airport road
respectively
October 2009 saw receipts totaling 2.67 crores. This refers to the total value of goods, at cost
price, received and accounted for in the apparel warehouse. November 2009 saw receipts of
1.47 crores. Out of this the products in the BUY mode were valued at 1.05 crores (this was
bought from various distributors); the brands purchased totaled 32 lakhs and the remaining was
accounted for by the private labels which stood at 10.5 lakhs. The inventory across the stores
and the ware house as on 30 th November 2009 stood at 9.37 crores which was represented by
356,662 pieces. Due to an initiative undertaken by the CEO in close coordination with the
buying and the supply chain teams, a large part of the non-saleable merchandise was
segregated in the warehouse under a separate category called DG1: this amounted to 50989
pieces; the approximate value of this was pegged at Rs. 1.5 crores. All the teams within apparel
agreed that this would need to be liquidated at below-cost price on account of its age and nearvirtual dormancy.
THE 10 30 A.M. MEETING
The meeting began at 10 30 a.m. It was chaired by Dinesh. Tejas, Raghavan and Praveen were
present. Dinesh congratulated the apparel team on the October sales. The apparel teams efforts
had materialized in the form of its peak sale in the previous month. The CEO drew Praveen
and Raghavans attention to the very high amount of receipts of apparel in November.
Dinesh: Praveen & Raghavan, please explain the reason for buying 1.47 crores of apparel in
the month of November, after the festive buying season of Diwali
Praveen: Dinesh, we had planned to receive the branded goods, buy and private label in
October itself. Since our vendors were late to deliver, we are forced to receive this merchandise
this month.
Raghavan: we were on target for the month of October; however since we had placed
confirmed orders with our vendors, we had to receive the merchandise due to our
commitments. There was no way we could have gone back
Tejas: Let me know how you plan to sell this extra inventory in a non-selling month. As you
know, the entire market announces a discounted sale from early January. December can
generate some additional sales due to festivals. The larger problem is the amount of dead stock
represented by the DG1 inventory: give me some action plan on how to sell this merchandise
Dinesh: all of you put your heads together and sort out this issue. Raghavan and Praveen, you
need to account for what you have bought. Tejas will facilitate all kinds of support to help you
sell. However, the decision on discounting and where you will sell, at what kind of discounts is
something you need to be clear on. Also give a timeline for clearance of the inventory in DG1;
how can we liquidate this 1 crore plus of inventory which has been deemed non-sale worthy by
all our retail managers

Praveen: Since we have launched the branded business (Peter England, Catmoss, etc) recently,
receiving the goods in November may not hamper its brisk sale. Customers walking into our
store will be fascinated by the presence of brands and will indulge in impulse purchases. Just
watch, we will make a mark selling our brands. The same applies to our private label business
as well; since the merchandise is of very high quality and has exceptional designs, we expect to
nearly match our Diwali month sales in December
Tejas: Are you telling me Casper can beat the Diwali month sale? I think it is completely
irrational to go ahead with such an assumption. In fact, I have spoken to the store managers and
the fashion assistants managing apparel sales; they are pretty clear that November would at
best account for about 2 crores sales in apparel. On what basis have we built up stock to such
high levels in November? Dinesh, I am not convinced with Praveens logic.
Praveen: In fact, I have proactively seen this and have formulated a Gross Profit commitment
for January 2010; we are likely to go for higher discounts and this would reduce the inventory
problem substantially.
[Refer Exhibit IV]
Dinesh: All of you: Get into a marathon meeting, discuss sales and stock details carefully and
come up with an action plan. I want this to be done within a week. Lets meet after 7 days. I
will fix up a schedule by end of the day.
Case Questions:
On careful analysis of the text and the exhibits, proceed to answer
1. What kind of action plan is suitable for Casper Retail right now? Should they go for
deep discounting? How can they sell the DG1 merchandise?
2. Is there a basis for switching to an only BUY mode? This would mean giving up on
private label and brands completely. Assess this possibility and the impact this would
have on the team structure, sales, etc
3. If Casper retail were to open their fifth hypermarket in May 2010, how would the
present situation influence such an event? Would there be any advantages? Any
drawbacks?

Exhibit 1: Sales Achieved: April-October 2009

SECTION
CATEGORY

DEPARTMENT
KIDS

(All)
(All)

MONTH

19109

3551031

May-09

25041

4399640

Jun-09

22095

3897306

Jul-09

23013

4098746

Aug-09

20702

4378562

Sep-09

22960

4995355

Oct-09

28775
161695

6644506
3196514
6

Apr-09

25534

9099025

May-09

29166

9654116

Jun-09

25266

8479021

Jul-09

25497

8728650

Aug-09

27102

Sep-09

32564

Oct-09

38216
203345

9555803
1141328
9
1439289
0
7132279
4

Apr-09

28929

6642960

May-09

31510

7250004

Jun-09

30677

6892025

Jul-09

31029

7060854

Aug-09

31113

7062099

Sep-09

33941

8148023

LADIES Total
MENS

N_sales

Apr-09

KIDS Total
LADIES

Data
Sum of
Qty

GM
158057
6
192660
2
170751
5
163764
6
162537
5
189286
5
243293
1
128035
10
307215
9
329849
8
286275
3
280980
1
275844
2
350903
9
425274
4
225634
36
271815
9
298923
8
247082
4
245553
2
248059
8
293261
8

Oct-09

35338

MENS Total

222537

Grand Total

587577

9928823
5298478
8
1562727
28

349223
3
195392
02
549061
48

N Sales sales realized (at selling price), GM refers to gross margin

10

Exhibit II: Age Band wise Inventory: 25th November 2009

AK
AL
AM
Grand
Total

2790598

Grand Total

150-180

120-150

90-120

>180

60-90

30-60

Dept
AC

Age band

0-30

Total
Value

2790598

5901408

3359676

2429611

3912023

1515985

1026875

13438039
9252824

8879854
2795094

1940230
2362283

19743217
4396211

4245922
2203160

1968373
885690

28592272

15034624

6732124

30842047

7965067

3880938

172193
3
179312
1
497194
401224
7

19867511
52008755
22392456
97059320

AC Dormant merchandise, in DG1 location

AK Kidswear
AL Ladies wear
AM Mens wear
0-30: refers to stock received during the last 30 days
>180: refers to stock received 6 months back
Value: at cost price; the total inventory value is to be read as Nine crores, Seventy lakhs, fifty nine thousand, three hundred and
twenty rupees.

11

Exhibit III: Inventory Snapshot as on 18th Nov 2009

Dept
AC

AC Total
AK

AK Total
AL

AL Total
AM

AM Total
Grand
Total

Category
BoysWestern
CausalWear
EthnicWear
FabricSets
GirlsWester
InfantsAcce
InfantsWove
Sarees
WesternWear
BoysAccesso
BoysEthnic
BoysInner&
BoysWestern
GirlsAccess
GirlsEthnic
GirlsInner
GirlsWester
InfantsAcce
InfantsKnit
InfantsWove
MaternityWe
Accessories
EthnicWear
FabricSets
Inner&Slee
Sarees
WesternWear
Accessories
CausalWear
EthnicWear
FABRIC
FormalWear
Inner&Slee

Data
Sum of Stk Qty
3041
3502
998
60
2391
3
6
26
2424
12451
2385
1206
3339
18974
962
2946
4595
24787
13556
21497
6083
461
100791
3077
45314
15960
20391
31874
36946
153562
10876
33368
3019
2918
21140
18537
89858

Sum of Stk Val

413490
751829
278560
16112
365377
327
1278
5304
645087
2477364
120871
535449
240377
4784329
59703
986281
620876
6419774
1499156
2229678
1137837
178278
18812609
227040
12086847
5477626
2472504
19711804
11323503
51299324
965750
10065927
650991
451958
7887914
1107407
21129947

356662

93719244

12

Exhibit IV: January 2010 Commitment from Apparel team

Jan 2010 GP Commitment from Apparel
Team
Jan 1-31 Budget
SAL G
CO
MD
ES
P
GS
%
27.9
MENS
86
24
62
%
26.3
%

BRANDS

80

21

59

LADIES (Private
label)

80

22

58

LADIES (BUY type)

90

20

70

27.5
%
22.2
%

KIDS (Boys & Girls)

30

24

20.0
%

KIDS (Infant wear)

TOTAL

31

12

19

38.7
%

397

10
5

292

26.4
%

COGS Cost of Goods Sold

MD Mark Down

13

Note: All numbers represent Rupees

lakhs
GP Gross Profit

Exhibit V: Receipts of Apparel November 2009

Sum of GRN
Value
Row Labels
BUY
BELMONTE
CATMOSS
DISNEY
GINIJONY
INDIAN
TERRAIN
JULIET
LEE
NU MOM
OXEMBERG
PRETTY
WOMEN
PRIVATE
LABEL
VIBE
ZAPP

Column
Labels
AK

AL
537303
0

2106682

AM
298575
0
368907

516060
334693
194548
14841
392897
193658

119042

23700
274066
109580
77589

14841
392897
312700
23700
274066
109580

384771
568862

585662

702279
9

434826
8

70766

GRN:
Grand Total
3324038
Receipt
refers to receipt of inventory in the warehouse

Grand
Total
1046546
1
368907
516060
334693
194548

1048023
568862
70766
146951
05

Good
Note

BUY refers to goods bought from various distributors

PRIVATE LABEL goods bought with the in-house brand name, i.e. Madison Street for mens
wear, Bangles for Ladies wear and Stitches for Kids wear

14

Exhibit VI: Receipts of Apparel November 2009

Row Labels
AK
Boys Accesso
Boys Ethnic
Boys Western
Girls Access
Girls Ethnic
Girls Wester
Infants Acce
Infants Knit
Infants Wove
Maternity We
AL
Ethnic Wear
Fabric Sets
Inner & Slee
Sarees
Western Wear
AM
Accessories
Causal Wear
Ethnic Wear
FABRIC
Formal Wear
Inner & Slee
Grand Total

Sum of GRN Qty.

23452
250
93
4812
370
416
2816
8098
5055
1354
188
47581
10115
7178
8023
12318
9947
33101
2799
11240
1789
1333
11729
4211
104134

15

Sum of GRN Value

4252502.46
10140
30370
1044570
21934
69439
1308317
783034
541575
366052
77070
13050227
3766885
2257548
788615
3535756
2701424
9422919
184918
3665741
431648
207296
4653614
279702
26725649

Exhibit VII: Brands Sell through and Stock Holding Days: October 2009

BRAND
Levis
Levis Ladies
Peter England &
Elem
Disney
Jole
Indigo Nation
Writer
Zapp
Lee
Lee Ladies
Gini & Jony
Catmoss
Juliet
Nu-Mom
Enamor
ToffyHouse
Zola
Oxemberg
Belmonte
Indian Terrain
Pretty Women
Anora Fashion
Adidas

Sales Qty

Sales Val

(COGS)

GP

Oct 1-25
373
71

Oct 1-25
3,85,577
63,729

Oct 1-25
2,96,035
48,431

Oct 1-25
89,542
15,298

SHD
116
513

1075
1358
1019
191
78
783
180
49
554
308
769
124
110
340
1565
285
85
35
133
60
118

8,09,862
4,06,704
2,33,989
1,47,657
46,235
4,69,120
2,11,905
55,523
2,42,828
79,451
2,77,108
57,491
30,880
1,42,493
9,11,090
1,99,603
59,525
45,965
1,77,260
1,11,850
94,823
52,60,668

2,11,971
1,39,117
16,607
48,346
10,229
1,38,815
80,030
19,606
43,664
-24,577
95,091
12,209
8,291
64,947
3,48,120
59,274
19,752
13,454
64,937
42,262
26,580
15,43,56
5

97
99
136
167
319
155
121
671
82
82
71
110
246
73
146
105
175
406
133
119
83

9,663

5,97,891
2,67,587
2,17,382
99,311
36,006
3,30,305
1,31,875
35,917
1,99,164
1,04,028
1,82,017
45,282
22,589
77,546
5,62,970
1,40,329
39,773
32,511
1,12,323
69,588
68,243
37,17,10
3

106

SHD Stock Holding Days: computed as Inventory Value / Average Sales per day refers to
the stock cover

16