KATHMANDU, Feb 19: People will have to dig deep into their pockets for apparels this summer, as prices of summer wear will be dearer by around 20 percent due to strengthening of US dollar, Thai Baht and Chinese Yuan vis-à-vis Nepali currency. Besides, upward revision in custom duty and hike in transportation will also contribute to price rise.
Most of the stores in the Valley have already imported new collection for the summer. Traders at malls like City Center, Civil Mall, Kathmandu Mall and United World Trade Centre said import cost has increased this year as compared to last year.
“Summer clothes will become dearer mainly due to rise in customs duty and weakening of Nepali currency against US dollar, Baht and Yyan,” Baikuntha Manandhar, proprietor of New Angel Blue at Kathmandu Mall, told Republica. “I´ve already brought T-shirts for men. It has become dearer by around 20 percent.”
Men´s T-shirts at the store are priced between Rs 1,050 and Rs 1,600. Last year, T-shirts for men were available in range of Rs 800 to Rs 1,300. The store imports apparels from China, Bangkok and Vietnam among others.
According to traders, high-waist jeans, formal pants, skinny leggings, shorts, silk skirts, mini dresses, cotton shirts, T-shirts with a variety of animal and floral patterns, ruffles and watercolor prints and light and highlighted colored dresses are expected to rule the market in terms of women´s wear. Similarly, check shirts, cotton T-shirts, Polo T-shirts, v-shaped printed T-shirts and faded jeans will be the popular men´s wear this season.
Nirmala Banjara Bharati of Next Fashion at China Town Shopping Center said summer collection imported from China has become expensive by 10 to 15 percent because of increase in customs duty and rise in price of cotton in the international market.
Mayjan Rai of Foot Locker and Track N´ Trail at People´s Plaza echoed Bharati and said depreciation of Nepali currency vis-à-vis Chinese currency affected their winter business severely. “Chinese shoes and sandals that we imported for summer have become expensive by around 15 percent,” Rai said.
A Yuan was exchanged at Rs 12.44 on Sunday, up from around Rs 10 recorded during September last year.