There was a time when people had to travel abroad if they had to buy a Gucci or an Armani. However, the scenario has changed over the past few years, as we are witnessing a plethora of luxury brands entering into the Indian market and Indian brands are entering luxury segment.
Today, international luxury brands are just a walk away. Luxury retail is growing at 40-50 per cent per annum and seems to grow further in the coming times. A lot of international luxury brands are providing their products and services in India through e-commerce channel. The Indian luxury market is ripe to go digital, and there is a real luxury e-commerce opportunity emerging, which is synchronous with offline retail.
Fabindia set to tap into luxury segment
After acquiring majority stake in Ahmedabad-based Bandhej earlier this year, ethnic retailer Fabindia is in the process of scaling up the Indian craft-inspired brand to tap into the bridge to luxury segment.The handcrafted and curated apparel, targeting women, will have separate concept stores to capitalise on the niche category. Bandhej’s range starts from Rs. 2500 to over Rs. 40,000 plus. Started in 1981 by the National Institute of Design alumna Archana Shah, Bandhej has 10 mono-brand stores. Fabindia had acquired 51 per cent stake in Bandhej in January this year for an undisclosed amount. Besides retail expansions, Fabindia will also be looking at e-commerce channel targeting buyers in overseas market. Recently, Fabindia launched its western wear line Fabels. The company has been looking at various retail options to tap consumers who are attracted to fashion with contemporary twists. Fabindia had a revenue of Rs. 540 odd crore in FY13. PE firm L Capital has stake in Fabindia. While Fabindia will provide specifics on locations and building the retailing experience, Bandhej will manufacture and manage inventory from its head office in Ahmedabad.
Diageo Global Travel Extends Johnnie Walker House Footprint into India and Taiwan
Diageo Global Travel is proud to announce the opening of two JOHNNIE WALKER HOUSE retail showcase stores in travel retail – one in Mumbai, India and another in Taipei, Taiwan. Following the success of the JOHNNIE WALKER HOUSE launches in Beijing, Shanghai and Seoul and continuing the brand’s mantra of ‘Keep Walking’, the new JOHNNIE WALKER HOUSES in Mumbai and Taipei are multi-sensory embassies for luxury Blended Scotch Whisky, designed to educate and inspire travellers by providing them with a luxurious and engaging shopping experience that encapsulates the history, provenance and pioneering spirit of the JOHNNIE WALKER® brand. Travellers can fully immerse themselves in the history of JOHNNIE WALKER and its famous liquids through a number of striking wall installations; and in deluxe mentoring spaces specialist brand ambassadors will invite them on a sensorial journey to touch, taste and smell the rare elements that make up JOHNNIE WALKER. To celebrate the inauguration of the Houses, a limited edition bottle of JOHNNIE WALKER® BLUE LABEL has been created. The JOHNNIE WALKER HOUSE ART COLLECTION – Mumbai Edition will be exclusively available at Mumbai International Airport. (Source: http://www.newswire.ca/en/story/1405266/diageo-global-travel-extends-johnnie-walker-housetm-footprint-into-india-and-taiwan )
Reliance Brands to partner luxury fashion brands
Reliance Brands, a unit of Mukesh Ambani-led Reliance Industries, plans to bring in more international fashion brands into the country through alliances and will focus on all things fashion except jewellery, Darshan Mehta, its president and CEO, says. The company, which currently has partnerships with 14 premium brands including Steve Madden, Paul and Shark and the recent BCBG Max Azaria, will leverage its strength and expertise in IT, human resources and real estate to bring in more brands to cater to the country’s rising appetite for premium products. Reliance Brands next plans to take up the beauty products segment where it still has no partner, Mehta told ET in an interview.(Source:http://retail.economictimes.indiatimes.com/news/apparel-fashion/apparel/reliance-brands-to-partner-luxury-fashion-brands-darshan-mehta-ceo/42498693 )
Luxury retail in India has the potential to grow at 60-70 per cent in the near future. With growth expectations so high, we will definitely see the entry of more luxury brands on the Indian shores in the coming years.