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Economic Times
5 days ago
- Business
- Economic Times
Bvlgari's Kada bracelets to Louis Vuitton's autorickshaw bags, India is haute on global luxe runway
Agencies This is an AI-generated image. It's not just Prada that's hotfooting it to the country. From couture to handbags and heels, the luxury market is having an India moment. Add watches, fine art and jewellery to the Prada is being inspired by the Kolhapuri chappal, an autorickshaw was the inspiration for a recent Louis Vuitton handbag that split the internet into the lovers, the haters and the mildly puzzled. Luxury watch brand Franck Muller is planning two Indian editions. Meanwhile, a piece in London fashion designer Robert Wun's latest Haute Couture collection created a buzz last week on social media.'Robert Wun showing a fishtail cocktail lehenga gown was not in my 2025 bingo card,' said popular fashion handle Diet there's been no official reference to the lehenga by the designer brand, the resemblance is uncanny. Wun did not respond to an email seeking brands are increasingly personalising offerings to resonate more deeply with customers, said Pushpa Bector, senior executive director and business head of DLF Retail, which runs Delhi's Emporio mall, home to several luxury labels. 'Brands are curating pieces that reflect local culture, craftsmanship while staying aligned with global luxury standards,' she said. 'Bvlgari's reimagined mangalsutra, Franck Muller's exclusive timepieces, Christian Louboutin's Diwali collection, and Valentino's India-exclusive embroidered VSling bag are examples of how global luxury houses are tailoring their products for the Indian market.'Luxury buyers are emotional about buying bespoke pieces, said Sanjay Mishra, director, India at FM International Watches & Jewellery (Franck Muller).'We will have two India editions coming up this year and one of them is inspired by Ram Navami,' Mishra said.'We will have two India editions coming up this year and one of them is inspired by Ram Navami,' Mishra Muller launched the Vanguard Slim Men in Blue special edition watch in 2023 around the time of the ICC World Cup. All 47 limited edition pieces of the watch that bore 3D embossed indexes in Devnagri were sold reported in April that slowing consumption in China is pushing makers of luxury Swiss watches to sharpen the focus on India, their fastest-growing market globally. Exports of Swiss watches to India grew nearly 30% in the March quarter from the same period in it's not just global brands. Interest in Indian art pieces is hitting records. Sonal Singh, chairman of Christie's India, said the auction house's list of top 10 jewels sold worldwide in the first half of 2025 includes two Mughal curved emerald auction in New York on June 17 realised $14.8 million for three pieces, she added that Christie's had set a new benchmark value for the work of MF Husain and the entire category in March this year.'The sale of Untitled (Gram Yatra) for $13,750,000 was a landmark moment and continues the extraordinary upward trajectory of the modern and contemporary South Asian art market,' she priority is to grow in India, Jean Christophe-Babin, the global CEO of the luxury brand, had told ET last year. Bvlgari launched its first digital boutique in India in an exclusive partnership with Tata CLiQ Luxury last Asthana, CEO of Tata CLiQ, said the brand's Kada bracelet and the mangalsutra, have received an enthusiastic response since the launch. 'Today's India represents a powerful intersection of cultural richness and a digitally savvy, engaged audience,' he said. 'For luxury brands, it offers an opportunity to craft layered narratives that are rooted in local tradition yet resonate with global consumers.'
Time of India
02-07-2025
- Business
- Time of India
Hope restocked on festive shelves; companies plan higher discounts for turnaround in sales
New Delhi | Kolkata: Companies selling discretionary products from chocolates and apparel to electronics and jewellery are lining up larger discounts, longer sale events and faster deliveries this festive season, hoping to persuade shoppers who have been wary of spending the past year to loosen the purse strings. They have also advanced festive stocking as the season starts early this year, with monsoon festival of Teej, Raksha Bandhan, Janmashtami and Ganesh Chaturthi all stacked up over the next two months. 'We are cautiously optimistic about July-September after a subdued last year, with many festive occasions in the quarter,' said Pushpa Bector, senior executive director and business head at DLF Retail, which owns and operates several premium malls. 'With festivals coming earlier this year, brands across categories such as fashion, gifting and luxury goods have advanced inventories and promotions.' Brands and retailers hope that discounts, projected to be 20-50% higher compared with last year, will encourage consumers to spend, and boost their performance in the July-September quarter after a muted 12-month period and a rain-impacted April-June quarter. A strong beginning to the festive season, they hope, will set the momentum for the big Diwali shopping period in October, and they are doubling down on discounts and sales across offline and online platforms. 'This year, for the first time, we're extending Prime Day to three days,' said Akshay Sahi, Amazon's director, Prime, delivery and returns for India and emerging markets. Prime Days, one of the main shopping events on the ecommerce platform, has been for two days in the past. The online retailer has announced up to 10% discount on several brands during the July 12-14 event. At Myntra, one of the key features this year would be quick deliveries under its MNow service, 'to cater to key occasions like Rakhi, where gifting takes centre stage', said Ankit Dua, senior director, category management at the Walmart-owned online fashion retailers. Snacking giant Haldiram's said it has begun stocking festive packs for Teej which falls on July 27, at its stores and on online platforms. A spokesperson for the DS Group, which retails premium chocolate brands Laderach and Luvit, said the company is boosting inventory of festive packs and creating bundling options. Mayank Shah, vice president marketing at bakery products maker Parle Products, said there would be much higher discounts compared to last year, both online and offline. RETAIL TURNAROUND Sales across discretionary sectors slowed down to 4-5% on an average in the past 12 months from 9-10% a year earlier, according to industry estimates, dragged by inflation and urban stress. In last year's festival season, retail sales grew 7%, falling short of industry expectations of 10%. But the $900 billion retail industry may now be on a recovery path, show latest data, with Retailers Association of India last week reporting a 7% expansion in May and projecting 9–10% growth during the next two quarters. The industry is also hopeful that this year's plentiful monsoon would help boost demand, especially in rural markets. The jewellery industry though remains under pressure amid high gold prices, though the prices fell by Rs 5,000 per 10 gm in the last 15 days. But they too expect the festivals to bring cheer. 'Despite falling prices, there has not been significant interest among consumers,' said Surendra Mehta, national secretary of the India Bullion & Jewellers Association. 'However, jewellers are restocking in advance and introducing new lines in anticipation of higher sales in the upcoming festive season.' Varghese Alukkas, managing director of jewellery retailer Jos Alukkas, said his company is working on plans to boost sales, including offering lower denominations of gold coins and silver coins against gold and diamond jewellery. Saurabh Gadgil, chairman of Pune-based listed jewellery firm PNG Jewellers, said the chain would continue with 50% discounts on making charges till July 15 to clear out old inventory and bring in additional customers.
Business Mayor
04-05-2025
- Business
- Business Mayor
India's luxury retail takes a quantum leap
Representative Image New Delhi: India's luxury retail sector is witnessing unprecedented growth, with leasing activity surging 90 per cent year-on-year in the first quarter of 2025, driven by aggressive expansion by luxury and bridge-to-luxury brands across major cities. Leasing by luxury brands hit 180,000 square feet during the quarter-as both global and domestic players race to capture a growing share of India's premium retail market, according to data real estate consultancy CBRE shared exclusively with ET. 'As consumer demographics evolve, luxury brands are recalibrating strategies and expanding their physical footprint to capture a broader audience,' said Anshuman Magazine, chairman and CEO – India, Southeast Asia, Middle East and Africa of CBRE. 'While legacy players may take a cautious approach focused on metro markets, newer brands continue to view India as a high-potential destination.' He said India is projected to remain among the top five luxury markets in Asia-Pacific. Several high-end international brands are entering the country. German luxury clockmaker Qlocktwo made its debut in Bengaluru, while French childrenswear label Jacadi Paris and women's fashion brand Maje opened stores in Mumbai. Beyond traditional luxury, Spanish fast-fashion brand Bershka entered Mumbai and Swiss premium lifestyle brand Nespresso debuted in Delhi, reflecting growing appetite across segments. The high demand is pushing up rentals. 'Sales have increased substantially, enabling us to raise rentals at our malls,' said Pushpa Bector, senior executive director and business head at DLF Retail. Brands in the bridge-to-luxury segment, particularly in beauty and accessories, are aggressively expanding into malls where they previously lacked a presence.' She said DLF Retail is developing a dedicated home and lifestyle luxury zone at its The Chanakya luxury mall in Delhi, which will be a first-of-its-kind space in India. Amit Pande, business head for The Collective and international brands at Aditya Birla Fashion and Retail, said multiple brands are showing interest in expanding in India. 'A brand like Vivienne Westwood held its first ever fashion show in India this month. There is definitely interest and the overall trajectory looks positive,' he added. Sanskriti Gupta, spokesperson for luxury chocolate brand Laderach in India, said the interest from international players, coupled with the strong performance of key retail categories such as fashion, beauty, and accessories, is fuelling the demand for prime retail spaces. Swiss luxury watchmaker Breitling is expanding its presence in the country, buoyed by the strong performance of its existing four boutiques and increasing consumption of luxury items. The brand plans to more than double its footprint to ten boutiques over the next 18 months. 'We have established 25 points of sale across tier-1 and tier-2 cities,' said Pradeep Bhanot, managing director of Breitling India. 'India's top eight metros account for nearly 30 per cent of the country's luxury consumption, but we believe the real opportunity lies in going beyond these markets.' One of the major reasons behind the expansion plans of luxury brands is the growing number of high-income households – with income of USD 40,000 or more – which is expected to double from 15 million in 2022 to 30 million in 2030. Bain & Company predicts India's luxury market to grow significantly to potentially reach USD 85-90 billion by 2030, a 3.5-fold increase. There has been a noticeable growth in retail presence over the past year, said Sanjay Mishra, director-India, FM International Watches & Jewellery (Franck Muller). 'Over the past year, we have strengthened our presence in the Indian luxury watch market as demand for high end timepieces continues to rise,' he said. 'We currently operate through 10 points of sale and two exclusive boutiques across key Indian markets. We plan to expand further by adding two more boutiques by 2026.'
Time of India
30-04-2025
- Business
- Time of India
India's Luxury Retail Takes a Quantum Leap
India's luxury retail sector is witnessing unprecedented growth, with leasing activity surging 90% year-on-year in the first quarter of 2025, driven by aggressive expansion by luxury and bridge-to-luxury brands across major cities. Leasing by luxury brands hit 180,000 square feet during the quarter-as both global and domestic players race to capture a growing share of India's premium retail market, according to data real estate consultancy CBRE shared exclusively with ET. "As consumer demographics evolve, luxury brands are recalibrating strategies and expanding their physical footprint to capture a broader audience," said Anshuman Magazine, chairman and CEO - India, Southeast Asia, Middle East and Africa of CBRE. "While legacy players may take a cautious approach focused on metro markets, newer brands continue to view India as a high-potential destination." He said India is projected to remain among the top five luxury markets in Asia-Pacific. Several high-end international brands are entering the country. German luxury clockmaker Qlocktwo made its debut in Bengaluru, while French childrenswear label Jacadi Paris and women's fashion brand Maje opened stores in Mumbai. Beyond traditional luxury, Spanish fast-fashion brand Bershka entered Mumbai and Swiss premium lifestyle brand Nespresso debuted in Delhi, reflecting growing appetite across segments. The high demand is pushing up rentals. "Sales have increased substantially, enabling us to raise rentals at our malls," said Pushpa Bector, senior executive director and business head at DLF Retail. Brands in the bridge-to-luxury segment, particularly in beauty and accessories, are aggressively expanding into malls where they previously lacked a presence." She said DLF Retail is developing a dedicated home and lifestyle luxury zone at its The Chanakya luxury mall in Delhi, which will be a first-of-its-kind space in India. Amit Pande, business head for The Collective and international brands at Aditya Birla Fashion and Retail, said multiple brands are showing interest in expanding in India. "A brand like Vivienne Westwood held its first ever fashion show in India this month. There is definitely interest and the overall trajectory looks positive," he added. Sanskriti Gupta, spokesperson for luxury chocolate brand Laderach in India, said the interest from international players, coupled with the strong performance of key retail categories such as fashion, beauty, and accessories, is fuelling the demand for prime retail spaces. Swiss luxury watchmaker Breitling is expanding its presence in the country, buoyed by the strong performance of its existing four boutiques and increasing consumption of luxury items. The brand plans to more than double its footprint to ten boutiques over the next 18 months. "We have established 25 points of sale across tier-1 and tier-2 cities," said Pradeep Bhanot, managing director of Breitling India. "India's top eight metros account for nearly 30% of the country's luxury consumption, but we believe the real opportunity lies in going beyond these markets." One of the major reasons behind the expansion plans of luxury brands is the growing number of high-income households - with income of $40,000 or more - which is expected to double from 15 million in 2022 to 30 million in 2030. Bain & Company predicts India's luxury market to grow significantly to potentially reach $85-90 billion by 2030, a 3.5-fold increase. There has been a noticeable growth in retail presence over the past year, said Sanjay Mishra, director-India, FM International Watches & Jewellery (Franck Muller). "Over the past year, we have strengthened our presence in the Indian luxury watch market as demand for high end timepieces continues to rise," he said. "We currently operate through 10 points of sale and two exclusive boutiques across key Indian markets. We plan to expand further by adding two more boutiques by 2026."
Time of India
30-04-2025
- Business
- Time of India
India's luxury retail takes a quantum leap
New Delhi: India's luxury retail sector is witnessing unprecedented growth, with leasing activity surging 90 per cent year-on-year in the first quarter of 2025, driven by aggressive expansion by luxury and bridge-to-luxury brands across major cities. Leasing by luxury brands hit 180,000 square feet during the quarter-as both global and domestic players race to capture a growing share of India's premium retail market, according to data real estate consultancy CBRE shared exclusively with ET. "As consumer demographics evolve, luxury brands are recalibrating strategies and expanding their physical footprint to capture a broader audience," said Anshuman Magazine, chairman and CEO - India, Southeast Asia, Middle East and Africa of CBRE. "While legacy players may take a cautious approach focused on metro markets , newer brands continue to view India as a high-potential destination." He said India is projected to remain among the top five luxury markets in Asia-Pacific. Several high-end international brands are entering the country. German luxury clockmaker Qlocktwo made its debut in Bengaluru, while French childrenswear label Jacadi Paris and women's fashion brand Maje opened stores in Mumbai. Beyond traditional luxury, Spanish fast-fashion brand Bershka entered Mumbai and Swiss premium lifestyle brand Nespresso debuted in Delhi, reflecting growing appetite across segments. The high demand is pushing up rentals. "Sales have increased substantially, enabling us to raise rentals at our malls," said Pushpa Bector, senior executive director and business head at DLF Retail. Brands in the bridge-to-luxury segment , particularly in beauty and accessories, are aggressively expanding into malls where they previously lacked a presence." She said DLF Retail is developing a dedicated home and lifestyle luxury zone at its The Chanakya luxury mall in Delhi, which will be a first-of-its-kind space in India. Amit Pande, business head for The Collective and international brands at Aditya Birla Fashion and Retail , said multiple brands are showing interest in expanding in India. "A brand like Vivienne Westwood held its first ever fashion show in India this month. There is definitely interest and the overall trajectory looks positive," he added. Sanskriti Gupta, spokesperson for luxury chocolate brand Laderach in India, said the interest from international players, coupled with the strong performance of key retail categories such as fashion, beauty, and accessories, is fuelling the demand for prime retail spaces. Swiss luxury watchmaker Breitling is expanding its presence in the country, buoyed by the strong performance of its existing four boutiques and increasing consumption of luxury items. The brand plans to more than double its footprint to ten boutiques over the next 18 months. "We have established 25 points of sale across tier-1 and tier-2 cities," said Pradeep Bhanot, managing director of Breitling India. "India's top eight metros account for nearly 30 per cent of the country's luxury consumption, but we believe the real opportunity lies in going beyond these markets." One of the major reasons behind the expansion plans of luxury brands is the growing number of high-income households - with income of USD 40,000 or more - which is expected to double from 15 million in 2022 to 30 million in 2030. Bain & Company predicts India's luxury market to grow significantly to potentially reach USD 85-90 billion by 2030, a 3.5-fold increase. There has been a noticeable growth in retail presence over the past year, said Sanjay Mishra, director-India, FM International Watches & Jewellery (Franck Muller). "Over the past year, we have strengthened our presence in the Indian luxury watch market as demand for high end timepieces continues to rise," he said. "We currently operate through 10 points of sale and two exclusive boutiques across key Indian markets. We plan to expand further by adding two more boutiques by 2026."
