Children’s clothing sees moderate drop
Traders of children’s clothing have outperformed the overall apparel market as the decline in their turnover in 2010 was far smaller than that of the greater sector. While the drop in sales volume in general clothing and shoes reached 40 percent in the year that has just ended on an annual basis, stores with children’s clothes reported a decline of no more than 10 percent on average, bolstered by a good enough holiday period. Stavros Papaioannou, the chief executive officer of children’s clothing company Lapin, told Kathimerini that kids’ apparel showed some resistance to pressure in 2010, with a drop of just 10 percent. «There is a greater problem in the wholesale sector, where almost 50 percent of our clients have a problem in paying their dues on time,» said Papaioannou, adding that his company has reduced its client list by 35 percent, supporting its long-time customers and avoiding the addition of new ones. Takis Frangos, CEO of the Frangos firm that controls the children’s apparel chains Mandarino and Marasil, says his company saw a 12 percent decline in retail, adding that there is a similar fall in wholesale, where the client list of Frangos has shrunk by 10 percent. Premaman retail chain reports an 8 percent drop in its 40 points of sales in Greece and is planning a further expansion in the country.
