Leaders from Zivame, Lifestyle, Nalli, and Kapsons explore fixed sale windows, collaborative strategies, and the future of fashion discounting…
The proliferation of frequent and prolonged sales has disrupted the traditional retail calendar, creating a chaotic environment for brands, retailers, marketplaces and malls.
Discounts have become a defining feature of modern retail, but their journey from occasional sales events to an industry norm is a story shaped by economic shifts, technological disruptions, and evolving consumer behaviour.
Before 2007-08, structured discount events like End of Season Sales (EOSS) were rare in India. However, the global financial crisis forced brands to adopt discounting as a necessity to clear accumulated inventory and sustain profitability.
What started as a short-term solution soon became an integral part of retail strategy. The next wave of change came in 2014 with the rise of online retail. E-commerce platforms aggressively leveraged discounts and price differentiation, drawing customers away from offline stores.
To compete, brick-and-mortar retailers also embraced frequent discounting, making price cuts a standard expectation rather than an occasional incentive. The pandemic further accelerated this trend, as retailers struggled to clear unsold inventory and attract hesitant shoppers back to stores.
Today, the industry faces a crucial question: Are discounts the only way to drive sales, or can businesses shift focus toward craftsmanship, product innovation, and experiential retail?
With events like Black Friday stretching beyond traditional timelines, discount-driven sales now dominate the calendar. This panel discussion will explore whether the industry can break free from perpetual markdowns and redefine customer engagement through new strategies that go beyond price wars. How collaborative sales strategies can help mitigate this challenge and what could possibly be the potential solutions including fixed dates for heavy discount sales, and identify opportunities for industry-wide collaboration to create a more sustainable and predictable retail environment.
The session discussed how collaborative sales strategies can help mitigate this challenge. What could possibly be the potential solutions including fixed dates for heavy discount sales, and identify opportunities for industry-wide collaboration to create a more sustainable and predictable retail environment.
Moderated by Rajesh Jain, MD & CEO, Lacoste India,
the panel had:
- Devarajan Iyer, Executive Director & CEO, Lifestyle International.
- Lavanya Nalli, Vice Chairperson, Nalli Silk Sarees
- Vipin Kapoor, Chairman, Kapsons Fashion
- Lavanya Pachisia, CEO, Zivame
Balancing Discount Strategies in an Offline Marketplace
When asked is there a way to align the discount cycles with those of EBOs while still maintaining a competitive edge; Devarajan Iyer, Executive Director & CEO, Lifestyle International said, “As a house of brands, our approach is driven by collaboration—nearly 70-72% of our business comes from the brands we trade in. Sales and discounts are not bad words; in fashion, they are a necessity. Unlike head categories with a few high-selling SKUs, fashion has thousands of options per season, making 100% sell-through impossible. Even the best brands achieve 85-90%, requiring sales to clear the remaining inventory. Over time, sales evolved beyond liquidation— they became a tool to attract footfalls and drive revenue. However, we, as an industry, must rethink how we manage sales. The real challenge isn’t discounts; it’s driving sustainable growth, because when growth happens, the need for heavy discounting naturally reduces.”
When asked about the strategy behind starting the EOSS slightly earlier, Iyer explained, “Sales are not just a function of one retailer—they depend on the entire ecosystem, including large-format stores, online platforms, and digital channels. When the industry aligns on a common sale period, it benefits everyone. In the U.S., a two-week sale expanded to eight weeks, but data shows most sales happen in the first two weeks. Extending it doesn’t change outcomes. The key is collective action—when the entire retail industry moves together, like on Black Friday, customers respond.”
Consumer Behavior: Discount-Driven vs Value-Driven Categories
When asked, do customers actively seek discounts, or do they value other aspects more? Do customers prioritise quality, craftsmanship, or storytelling over price?
Lavanya Nalli, Vice Chairperson, Nalli Silk Sarees explained, “We follow a different philosophy—we don’t offer discounts at all. Once you step onto the discount treadmill, it reshapes your entire business model. Instead, we focus on strong vendor relationships and long-term profitability, ensuring sustainable margins without inflating prices. Our approach requires extreme discipline; we avoid extravagant packaging, heavy marketing, and discount-driven strategies. In the debate on whether certain categories are immune to discounts, it’s less about the category and more about the brand’s positioning. A brand can protect itself, but it comes with trade-offs, such as sacrificing rapid scale and industrywide collaboration. Maintaining the discount philosophy demands focus, resilience, and a commitment to value over volume.”
“End-of-season sales aren’t bad, they just don’t fit our business model. Our GMs run the show without merchandising, marketing, or strategy teams. Without discounts as a tool, they must take smart bets, focusing on inventory turnover and positive cash flow. A 2 lakh saree may take months to sell, while a 5,000 saree moves in weeks. By managing assortments wisely, we maintain strong sellthrough rates without relying on discounts,” she added further.
Balancing Regional Preferences with Discount Strategies
Retail success hinges on understanding local preferences. In regional regions, do retailers rely on uniform discounting or tailor strategies to regional needs? Will striking this balance can drive customer loyalty and repeat business.
Vipin Kapoor, Chairman, Kapsons Fashion highlighted, “For us, discounting is a necessity driven by seasonal change. With four distinct seasons, we must refresh our collections every six months, completely liquidating stock to make space for new arrivals. Over the past 35 years, this has been standard practice, but the discounting landscape has shifted with international brands like Zara and H&M entering the market. To stay competitive, we adapt dynamically—monitoring weather forecasts to adjust discounts strategically and ensure optimal stock movement across stores.”
“We don’t keep warehouses; instead, we transfer inventory frequently, maximising fresh sales and optimising markdowns only when necessary. This agility helps us maintain efficiency while ensuring a seamless shopping experience for our customers,” he added further.
Balancing Online and Offline
When asked how do brands manage the balance between the online and offline channels sale, when it comes to discounting strategies?
Lavanya Pachisia, CEO, Zivame explained, “At Zivame, we prioritise true pricing over discounts, ensuring uniform pricing across all channels—whether in our EBO stores, online, or large-format retailers. While discounts serve as a communication tool, our core focus is on maintaining consistent value for the customer. Having started as an e-commerce brand before expanding offline, we understand the importance of transparency.”
“Our approach guarantees that no matter where the customer shops, they receive the same price, reinforcing trust and making our pricing strategy consumer-centric rather than purely discount-driven,” she concluded.
