Decorative paints and footwear stand out amid slowdown, may remain outliers

Market share gains and focus on product premiumisation are helping these segments

The pain arising out of the feeble consumption sentiment has, in recent times, spread to discretionary segments ranging from gold and undergarments to stationery, thereby adding to scepticism on their growth prospects. 

However, segments in the discretionary space such as decorative paints and footwear have weathered the storm and are likely to remain outliers. As a consequence, they are likely to find favour with investors. The share price movement of major paint and footwear players, too, highlights investor enthusiasm for these segments.

The stocks of three big paint players (Asian Paints, Berger Paints, and Kansai Nerolac) have gained up to