Over the last year, innerwear companies have been significantly underperforming the Nifty 50. Shares of Rupa & Co are down over 51%, Lux Industries has crashed 50% and Page Industries has fallen 7%. The underwear sales volumes data, if it continues to contract, signifies that something is not right in the economy. Are there more troubles ahead?
Former Federal Reserve head Alan Greenspan has a theory — men’s underwear is an important economic indicator. He believes that as male underpants are the most private and hidden clothing item, no one replaces them when tight on money. This could signal an upcoming recession or a sharp slowdown in economic activity.In India, we see things are getting tighter, and it is hurting below the belt. There was a 55% drop in underwear sales in the
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