End of discount stores

They started off with a bang and traded in large volumes but discount stores across the country have folded up

It’s a sunny afternoon in south Mumbai and the monsoon is still a few weeks away. A group of teenagers walk into a store that promises some very fancy deals. They spend a few minutes looking around and do not seem too impressed by what is on offer. After taking a quick look, the teens decide to look elsewhere. By the sound of their conversation, it is clear that one of them is looking for a pair of jeans and thinks the range is quite limited at this outlet. Incidentally, the store — The Loot — was once a big name in the business of selling discounted brands.