20 May, Mumbai 2025

Swedish home decor and furniture giant Ikea plans to significantly increase its sourcing from India, aiming to reach 50 per cent by 2030 from the current 30 per cent. This expansion will involve adding new suppliers from the country, according to Christina Niemela Strom, Global Head - Sustainability for Supply, Inter Ikea Group.

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Ikea's strategy presents an opportunity to boost its global sourcing from India. The company’s supply footprint needs to be resilient to whatever happens, and India can play a major role in that, explains Strom.

In 2024, Ikea purchased goods worth €400 million from India.

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The company has been sourcing from India for nearly 50 years and already considers it among its top 10 global sourcing markets.

The company primarily ships ready-made goods from India, including curtains, rugs, and bed linens. It is closely monitoring the US-India FTA developments, states Strom.

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Besides sourcing, Ikea is also exploring the introduction of new product segments in India that could then be rolled out globally. He emphasizes on the growing popularity of India-made products in international markets.

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Having launched its first retail store in India in Hyderabad in 2018, Ikea is currently present in over 10 cities through a combination of offline and online stores.

Europe remains Ikea's largest supply region, followed by Asia and the Americas. Much of what Ikea sells in the US is manufactured in other countries, including China. Despite significant commodity inflation in India over the past few quarters, Ikea hasn't raised product prices in the country, Strom confirms.

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19 May, Mumbai 2025

As a part of its growth strategy, fashion and lifestyle e-commerce platform Myntra is expanding into Singapore with the launch of Myntra Global.

Aimed at the roughly 650,000-strong Indian diaspora in the Lion City, this move is a part of Myntra's broader growth strategy. The e-commerce operator seeks to tap into new customer segments and build stronger international brand recognition in the coming years.

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Myntra has already seen significant organic interest, with around 30,000 users from Singapore visiting its existing platform, according to Nandita Sinha, CEO, Myntra.

The platform focuses on showcasing Indian fashion to the world. It brings 'Made in India' brands catering to the Indian diaspora, especially around their specific needs, to these customers."

Almost 650,000 Indians live in Singapore. Around 30,000 of these users actually visit the our website every month, encouraging us to launch Myntra Global in Singapore, Sinha notes.

The Myntra Global website will feature approximately 35,000 styles from over 100 Indian brands, covering categories such as clothing, footwear, home goods, and accessories. Brands like Aurelia, Global Desi, The Label Life, House of Pataudi, Anouk, Bombay Dyeing, Rare Rabbit, and Nasher Miles are included.

Orders placed on Myntra Global will be shipped from India and delivered within an average of 4-7 days, supported by third-party international shipping services.

Founded in 2007 and now part of the Flipkart Group, which is owned by Walmart, Myntra has over 70 million monthly active users and a catalog of more than 3.9 million styles from over 9,700 brands.

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19 May, Mumbai 2025

Expanding its offline footprint, artisanal lifestyle brand under Aditya Birla Fashion and Retail (ABFRL), Jaypore has opened 32nd retail outlet in India.

Located in Worldmark, Gurugram, this new 2,000 sq ft is a part of Jaypore’s continued efforts to integrate Indian craftsmanship into modern retail format. The launch of this store aligns with the brand’s broader strategy to expand its presence across key markets in the country.

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The store features a curated selection of the brand’s offerings across categories, including womenswear, menswear, jewelry, and home decor. Its product range is inspired by traditional Indian techniques and textile heritage, with craft forms such as Kantha, Jamdani, Chikankari, Bagh, Brocade, Ikat, Gota Patti, and Kota weaves represented in the apparel section.

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The store also houses Jaypore’s jewelry line, which includes silver items and handcrafted pieces such as jhumkas and balis, combining tribal and classical influences. Its home segment offers products crafted from traditional Indian materials and techniques, including brassware, kansa, Dokra, and decal prints.

Manu Gupta, Vice President and Brand Head, Jaypore says, the brand aims to reimagine Indian craft for today’s discerning consumer. Its rapid expansion reflects a strong and growing appetite for authentic, design-led artisanal products. The new Gurugram store celebrates the extraordinary talent of Indian artisans. It embodies the brand’s ethos of being rooted in tradition yet tailored for the modern aesthete.

Located within a mixed-use commercial hub known for its premium retail presence, Worldmark, the new store targets customers in high-footfall urban locations, complementing the brand’s design-forward positioning.

Continuing to grow its offline presence across India, Jaypore’s focuses on creating curated spaces that promote heritage craftsmanship while aligning with contemporary consumer expectations. The brand explores modern retail formats to elevate artisanal talent.

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19 May, Mumbai 2025

In H2, FY25, a leading name in women's apparel industry, Signoria Creation registered a 1.83 per cent Y-o-Y decline in net profit to Rs 173.09 lakh. The company’s total income grew by 31.81 per cent Y-o-Y to Rs 1,718.70 lakh while EBITDA expanded by 15.46 per cent to Rs 331.38 lakh. However, the company’s net profit declined by 1.83 per cent Y-o-Y to Rs 173.09 lakh.

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For the full FY25, Signoria Creations’ total income increased by 39.10 per cent Y-o-Y to Rs 2,722.02 lakh. Its EBITDA expanded by 31.02 per cent Y-o-Y to Rs 529.33 lakh, while net profit grew by 25.32 per cent to Rs 301.84 lakh.

Vasudev Agarwal, Chairman and Managing Director, says the company’s strong performance for H2 and the full year FY25, reflects steady growth across key segments.

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Signoria’s consistent focus on quality, design innovation, and market responsiveness helped the company deepen its presence in the premium women’s apparel space.

Throughout the year, Signoria Creation has expanded its product offerings, reinforcing its commitment to delivering elegant, timeless, and versatile designs that cater to the modern woman. The company’s ability to combine style with functionality resonates strongly with its target audience, allowing it to deepen presence in the competitive apparel market.

Looking ahead, Signoria Creation remains focused on enhancing collections, expanding its reach, and continuing to elevate the Signoria brand to new heights. The company’s ongoing investments in design and technology enable it to deliver exceptional value and meet the evolving demands of its customers, ensuring long-term growth for the company and continued satisfaction for its stakeholders.

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20 May, Mumbai 2025

India's luxury retail sector has seen an unprecedented rise in leasing activity and ambitious expansion plans by both global and domestic brands. CBRE data reveals almost 90 per cent year-on-year increase in luxury retail leasing during the first quarter of 2025, with a total of 180,000 sq. ft. of space being lapped up by premium brands across major cities. This growth underscores India's growing appetite for high-end goods and positions the country as an important player in the Asia-Pacific luxury space.

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Global, domestic brands vie for market share

The aggressive expansion is being led by a recalibration among luxury brands aiming to capture a wider spectrum of affluent Indian consumers. Anshuman Magazine, Chairman and CEO - India, Southeast Asia, Middle East and Africa of CBRE, highlights this evolving dynamic as he explains "As consumer demographics evolve, luxury brands are recalibrating strategies and expanding their physical footprint to capture a broader audience.

While legacy players may take a cautious approach focused on metro markets, newer brands continue to view India as a high-potential destination." His statement is further substantiated by CBRE's projection that India is expected to be among the top five luxury markets in Asia-Pacific.

The influx of new international players further validates this optimism. The first quarter of 2025 saw the entry of several high-end brands into the India, including German luxury clockmaker Qlocktwo debuting in Bengaluru, French children’s wear label Jacadi Paris, and women's fashion brand Maje, both opening stores in Mumbai.

This appetite for expansion extends beyond traditional luxury, with Spanish fast-fashion brand Bershka entering Mumbai and Swiss premium lifestyle brand Nespresso debuting in Delhi, indicating a widening consumer base embracing premium offerings across different segments.

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Rising demand leads to rental growth

The intense competition for prime retail spaces is naturally driving up rental costs. Pushpa Bector, Senior Executive Director and Business Head at DLF Retail, confirms this trend: "Sales have increased substantially, enabling us to raise rentals at our malls. Brands in the bridge-to-luxury segment, particularly in beauty and accessories, are aggressively expanding into malls where they previously lacked a presence." Rising demand has prompted DLF Retail to innovate, with plans to develop a dedicated home and lifestyle luxury zone at its The Chanakya mall in Delhi—a pioneering concept in the Indian retail landscape.

Breitling's ambitious expansion

Swiss luxury watchmaker Breitling exemplifies the confidence in the Indian market. Buoyed by the strong performance of its existing four boutiques and the increasing consumption of luxury items, the brand is embarking on an ambitious expansion plan.

Pradeep Bhanot, MD, Breitling India states, they have opened 25 points of sale across Tier-I and Tier-II cities. India's top eight metros account for nearly 30 per cent of the country's luxury consumption, but he believes the real opportunity lies in going beyond these markets. Breitling aims to more than double its footprint to ten boutiques over the next 18 months, a move to tap into the growing affluence in emerging urban centers.

Amit Pande, Business Head, The Collective and international brands at Aditya Birla Fashion and Retail (ABFRL), reaffirms the optimism among stakeholders as he says there is definitely interest and the overall market looks positive.

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Growing affluent class market catalyst

The primary driver behind this luxury retail boom is the rapid growth of India's high-income households. The number of households with an income of $40,000 or more is projected to double from 15 million in 2022 to a staggering 30 million by 2030. This increasing affluent class represents a significant consumer base with the purchasing power to fuel the demand for luxury goods and experiences.

Bain & Company, too predicts a remarkable move for India's luxury market, forecasting it to potentially reach $85-90 billion by 2030. This is a 3.5-fold increase from current levels, underscoring the immense growth potential that luxury brands are eager to capitalize on.

Sanjay Mishra, Director-India, FM International Watches & Jewellery (Franck Muller), echoes this sentiment and points out, over the past year, they have strengthened their presence in the Indian luxury watch market as demand for high-end timepieces continues to rise.

They operate through 10 points of sale and two exclusive boutiques across key Indian markets and plan to increase it further by adding two more boutiques by 2026. This consistent expansion by established players solidifies the strong growth narrative.

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Table: Indicators of India's luxury retail growth (Q1 2025)

The appeal of prime retail spaces Sanskriti Gupta, spokesperson for luxury chocolate brand Laderach in India, emphasizes the crucial role of prime retail spaces in this expansion.

Gupta explains the interest from international players, coupled with the strong performance of retail categories such as fashion, beauty, and accessories, is pushing up demand for prime retail spaces.

The desire for prominent locations in high-footfall areas underscores the importance of physical presence in building brand visibility and attracting discerning consumers.

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