Future Group's Pantaloon Retail raises branded apparel prices by 18%

Future Group's retail arm, Pantaloon Retail, has increased the prices of its branded apparel by 18 per cent early this month, a top company official said on Thursday.

Pantaloon sells brands like John Miller, Indigo Nation, RIG, Honey, Annabelle, Umm and Chalk for men, women and kids.

"We have hiked prices on the fresh merchandise from this month (March). We will also add the additional 10 per cent excise duty announced," Future Group's Managing Director and CEO Kishore Biyani told reporters in Mumbai on Thursday.

The 10 per cent excise duty in branded apparel would result in 10-15 per cent increase in the prices of garments and made-up textiles.

"Food has become costlier, real estate prices were always high and now apparels. The excise duty will certainly affect sales," Biyani added.

The excise duty has come as a shocker to the retail industry, which has been reeling under high-cost of raw materials like cotton.