Around 100 high-end fashion brands like Armani, Gucci, Versace and Canali have started clearance sale earlier than expect at up to 40 per cent discount to wipe out their old stock as it has been a very erratic and tough year in terms of sales. “Christmas is not the way we had expected to go. There has been 6 per cent de-growth in like-to-like sales for my stores in December,” said Arjun Nijhawan, Director of Nijhawan Group. Brands like Sisley and Adidas are also expected to go on sale earlier than usual this year, he informed.
