India’s luxury fashion sector grows by 33% over past year: Sabyasachi Mukherjee
Designer Sabyasachi Mukherjee says, India’s luxury sector saw a massive growth of 33 per cent across segments over the past one year, with jewelry sales growing at about 76 per cent.
The designer presented an exclusive collection of jewelry, clothing and other accessories at Saks Fifth Avenue’s new Beverly Hills flagship from March 7-16, 2024. He also launched a limited edition lipstick collection, to be exclusively available at Selfridges during the month.
Last yearMukherjee opened his largest flagship store in Mumbai and his first exclusive jewelry boutique at Taj Krishna in Hyderabad, India. He also collaborated with global eyewear brand Morgenthal Frederics and Bergdorf Goodman. Looking ahead, Mukherjee plans to introduce more entry-level categories, with an aim to establish a truly global Indian luxury brand.
Meanwhile, Gautam Sinha, Founder, Nappa Dori, plans to expand the brand’s operations to Europe and the Middle East. It plans to launch its second store in London besides enhancing operations in Dubai.
Uzma Irfan, Director-Corporate Communications, Prestige Group, notes, demand for luxury Indian brands is on a rise, leading to the UB City mall in Bengaluru being fully occupied. To expand their operations, indigenous luxury brands plan to expand into newer malls.
Pushpa Bector, Senior Executive Director, DLF Retail, highlights, the lndian luxury landscape is expanding beyond weddings with notable designer brands like Arpita Mehta, Jayanti Reddy, Dabiri, and Anushree Reddy establishing their presence in malls like Emporio in Delhi.
