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Lifestyle 24-02-19

Bengaluru emerges a booming market for luxury brands in India

Riding the wave of India's rising luxury market, Bengaluru, India's Silicon Valley, is attracting a growing number of international luxury brands. With its affluent population, driven by tech professionals and entrepreneurs, and established families with wealth, the city offers a unique and promising market.
What makes Bengaluru attractive
One major draw is it high-spending demographics. Bengaluru is home to over 10 million people it is the third most populous city in India. Bengaluru boasts of a large population of high-net-worth individuals (HNWIs), with over 12,600 millionaires 50 centi-millionaires, eight billionaires and a growing presence of tech professionals with high disposable incomes. As designer Aviva Bidapa says, "Louis Vuitton bags are more common [here] than grocery bags. Everyone has them." Little wonder wy Louis Vutoon established a store in UB City 15 years ago, reflecting the city's growing demand for luxury brands. Beside techies, the city is home to "old money" families, Kannada film industry stars, and sports personalities who contribute to the luxury market.
While historically known for its conservative approach to luxury, Bengaluru is witnessing a shift towards international brands and streetwear, with sneakers gaining popularity. Malls like UB City and Phoenix Mall of Asia, The Collective offer diverse brands and experiences alongside online platforms like Tata Cliq. These are the preferred channels for international brands. Moreover, high import duties make luxury goods in India more expensive compared to other markets, but personalized service and curated experiences can attract local buyers.
While international brands like Louis Vuitton and Ferragamo are present, the city also boasts a thriving local luxury scene with designers like Shantanu & Nikhil have store there, then there is Aviva swimwear, founded by Aviva Bidapa to cater to Bengaluru's growing luxury scene. Angadi Heritage, the opulent store selling silk saris and contemporary Indian designer brands. Sneaker Stories India, an Instagram account promoting the sneakerhead community in Bengaluru. Ensemble the multi-brand Indian designer store is located in the popular Jayanagar neighborhood.
Indeed Bengaluru's unique blend of tech-driven wealth, diverse consumer cohorts, and evolving preferences make it a promising market for international luxury brands. By understanding the local landscape, adapting their approach, and offering personalized experiences, brands can tap into this thriving market and contribute to its continued growth.

Lifestyle 24-02-19

Bengaluru emerges a booming market for luxury brands in India

Swedish brand Gaston Luga debuts in India

Swedish lifestyle and accessories brand Gaston Luga has debuted in the Indian market with an aim to introduce its pragmatic designs to local shoppers. The brand has joined forces with several multi-brand online platforms to expand its reach.
Stating its commitment to merging Scandinavian elegance with functional design, Gaston Luga aims to revolutionise the Indian accessory scene, as reported by India Retailing. Known for its expertise in bringing global lifestyle labels to Indian consumers, Maison ID8 Brands,is facilitating Gaston Luga's entry into India, as per Indian Retailer Bureau.
Headquartered in Stockholm, Sweden, Gaston Luga specialiSes in crafting men's and women's bags tailored for everyday utility. Their product range spans from compact shoulder bags to backpacks, including specialised camera bags equipped with various compartments. The brand primarily operates through its global direct-to-consumer e-commerce platform.
In its Indian debut, Gaston Luga offers minimalist yet practical accessories on prominent multi-brand platforms such as Tata Cliq, The White Crow, and Ajio Luxe, catering to customers across the nation. The company's reach extends beyond India, with dedicated e-commerce platforms serving countries like the UK, US, and Thailand.
Highlighting its commitment to sustainability, Gaston Luga recently collaborated with renowned camera brand Nikon to unveil a camera bag line. Notably, the brand employs PETA-approved waterproof vegan leather in its products, as stated on its website.

Lifestyle 24-02-17

Aza Fashions opens new luxury store in Ahmedabad

Marking a significant expansion of its luxury retail footprint, India’s multi-designer retailer Aza Fashions has unveiled a stunning new store in Ahmedabad.

Sprawling over 10,000 sq ft, the store boasts an expansive selection of women's apparel, menswear, accessories, and fashion jewelry. From traditional Indian couture to contemporary fusion wear, the meticulously curated collection caters to diverse tastes and occasions.

Dr Alka Nishar, Founder & Chairperson, Aza Fashions, says, the store blends craftsmanship with elegance to offer timeless elegance and cutting-edge style.
It also celebrates skill and creativity, adds Devangi Parekh, Managing Director.

The store’s luxurious ambiance and personalised service promise an unforgettable shopping experience. It offers garments from renowned designers like Amit Aggarwal, Sabyasachi, Anushree Reddy, etc.

Launched in 2025, Aza Fashions’ e-commerce platform, Azafashions.com, offers the convenience of shopping for over 1,000 Indian designers from anywhere in the world.

Lifestyle 24-02-07

Aza Fashions opens new luxury store in Ahmedabad

True Religion teams up with Orly for a new footwear collection

Denim brand True Religion is stepping into the world of shoes in partnership with New York footwear powerhouse Orly Corporation.
Both True Religion and Orly are planning to launch full-fledged footwear collection for men, women, and kids in Fall 2024. From casual kicks to statement styles, the collection will cater to every taste and budget, with prices ranging from $55 to $200.
The new collection will be available at all True Religion stores and online. Major retailers across the US and Canada will also retail this new collection.
Michael Buckley, CEO, True Religion says, this collaboration allows the brand to offer complete head-to-toe looks, solidifying True Religion as a true lifestyle brand.
An expert in footwear, socks, and housewares, Orly blends comfort and style. The brand’s extensive North American presence and dedicated design teams will make the True Religion collection both trendy and high-quality, adds Ruby Antebi, Head- Strategy and Business Development, Orly. True Religion's iconic style combined with Orly’s passion for innovation will redefine footwear for everyone. This collaboration will be a game-changer for the fashion industry, making elite style accessible to everyone, she adds further.

Lifestyle 24-01-24

True Religion teams up with Orly for a new footwear collection

The Amethyst Room to showcase womenwear brand Aish in Chennai

A prestigious multi-brand luxury Indian fashion boutique, The Amethyst Room is set to host a showcase featuring the renowned womenswear brand Aish from February 17-23, 2023 in RA Puram, Chennai. This event aims to unveil Aish's unique take on fusion style, tailored for everyday wear.
During the showcase, Aish will offer a curated selection of its latest designs, popular pieces, as well as exclusive one-of-a-kind garments. The collection will spotlight Aish's signature use of premium fabrics like cotton, silk, and linen, coupled with their trademark loose and relaxed silhouettes. Among the showcased items will be loose layers, elegant kaftans, versatile wrap tops, chic a-line skirts, and stylish shirt dresses. Aish's fusion prints, including vibrant ginghams, eye-catching neon pinstripes, artistic florals, and abstract patterns, will also take center stage.
The Amethyst Room has a rich history of presenting designer showcases, aimed at introducing leading labels to Chennai's discerning fashion enthusiasts. In recent times, the boutique has organised successful pop-up events featuring esteemed brands such as Shades of India for handloom aficionados and Nikasha for the launch of its 'Nikasha Goa' resort wear line in November 2023.
Originating in Kolkata, Aish specialises in crafting exquisite resort wear for women. Founded by designer Nupur Goenka, Aish's creations are available both online and at select multi-brand outlets like Le Mill, Aloja, and Ajio Luxe. Their product range includes elegantly crafted kaftans, dresses, and separates, all meticulously fashioned from natural fabrics.

Lifestyle 24-02-17

From Metros to Small Towns: India's luxury landscape expands as brands woo with bespoke experiences

06 February 2024, Mumbai

India's luxury market is experiencing an explosive rise. Luxury brands like LVMH, Hermès, and Christian Dior are clocking in good growth, driven by a rising affluent class, a shift in consumer preferences, and post-pandemic spending spree.

Moreover, this dynamic landscape is attracting major global brands, eager to tap into its immense potential.

Growing sales reflects boom

Sales indeed are soaring. LVMH India sales increased 33 per cent to Rs 719 crore, with a 37per cent jump in profit to Rs 140 crore in FY23; Hermès India saw 42 per cent sales surge to Rs 249.4 crore and 31 per cent profit rise to Rs 54.3 crore in FY23. Similarly, Christian Dior India recorded 20 per cent sales growth to Rs 183.22 crore in FY23.

As per Bain & Company the market itself is projected to reach $350 billion by 2030, surpassing established players like Japan and Italy. This growth is propelled by the rapidly increasing number of Ultra High Networth Individuals. As per Knight Frank, their ranks are expected to grow 67 per cent by 2025, outpacing China. No wonder, Cartier opened a dedicated high jewellery boutique in Delhi catering to this segment. And as per Statista luxury apparel accounted for the largest share (40 per cent) of India's luxury market, valued at $3.4 billion in 2023 and projected to reach $11.2 billion by 2027.

And it’s the millennials and Gen Z who are driving up the market. Brands too are focusing on them. For example, Burberry launched its ‘B Series’ collection targeting Gen Z with streetwear-inspired designs and a social media campaign featuring Indian influencers.

Dior's collaboration with designer Manish Malhotra successfully merged global luxury with local heritage, creating a sought-after bridal collection. LVMH's online platform has been instrumental in capturing the growing e-commerce demand for luxury apparel. As Raahuul Kapoor, Luxury Ampersand Frolics points out, “Indian luxury is still running on the Covid halo. Buyers are using these brands to define themselves."

Beyond the Metros: A broader canvas

While metros like Delhi and Mumbai are key hubs, Tier II, III cities are witnessing a 30 per cent year-on-year growth in luxury spending, presenting a huge opportunity for brands willing to localise their marketing and distribution strategies. As Ashish Gupta, Managing Partner, Boston Consulting Group India says, brands need to go beyond the metros and build deeper connections with consumers in emerging cities.

What’s more digital-savvy consumers are driving this trend, with 70 per cent researching and purchasing luxury goods online. This necessitates tailoring digital experiences for this tech-savvy audience, says Assocham. "India's luxury market is not just about bling, it's about experiences and self-expression," opines Anita Dongre, founder of luxury fashion brand Anita Dongre

Navigating challenges

However, the segment’s growth hinges on many factors. For example, high import duties and tough regulations require strategic solutions like lobbying for reduced tariffs and exploring local manufacturing. Moreover, it’s a complex cultural landscape, and brands need to be sensitive to diverse cultural values and religious beliefs.

Logistics and infrastructure are other issues. Developing efficient distribution networks and luxury retail experiences outside metros could be a major challenge. Building brand awareness and establishing distribution networks is also a challenge.

Despite challenges, sustainability is a growing priority, presenting an opportunity for brands to offer eco-conscious materials and production processes.

Luxe brand’s India approach

Euromonitor says, India’s luxury market is one of the fastest growing and more and more brands are opening shop here. Among those ready venture are: Dolce & Gabbana, Golden Goose, Balenciaga, and Jacquemus to name a few.

While the market presents a lucrative opportunity, with an affluent population and evolving consumer preferences, understanding the diverse segments, cultural nuances, and regulatory environment will be key to success. Some strategies they could adopt are:

Personalization: Offer bespoke experiences and products to cater to individual preferences.

Localization: Collaborate with local designers or celebrities to create India-specific collections.

Omnichannel: Integrate online and offline experiences seamlessly for a unified brand journey.

Spread out in Tier II and III cities: Invest in targeted marketing and distribution strategies for these emerging markets.

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Lifestyle 24-02-05

Manyavar to make South India debut with Vivaham

Indian men's festive-wear brand Manyavar has chosen the auspicious wedding season to mark its debut in South India. With the launch of "Vivaham," a collection of traditional South Indian attires like Panchakacham and Veshti, Manyavar is ready to redefine festive fashion in the region.

To celebrate this grand occasion, Manyavar has partnered with GroupM OOH Solutions to unveil a captivating Out-of-Home campaign featuring superstar Ram Charan as the brand ambassador. The campaign, aptly titled #TaiyaarHokarAiye ("Get ready"), features larger-than-life cutouts of Ram Charan adorned in Manyavar's elegant garments, reaching a staggering 70 feet at key locations across Andhra Pradesh and Telangana. Additionally, in Hyderabad, strategically placed bridge and pillar panels create a mesmerizing effect for commuters.

This launch signifies a major milestone for Manyavar, a brand known for its masterful blend of tradition and innovation in Indian festive wear. The "Vivaham" collection showcases the brand's commitment to embracing the rich South Indian
heritage, aligning perfectly with its values of inclusivity and diversity.

Vedant Modi, Chief Revenue Officer, Vedant Fashions, believes the campaign beautifully captures the essence of both the Vivaham collection and Ram Charan's magnetic personality. He adds that Ram Charan's confident and compassionate persona resonates perfectly with the contemporary Indian man, making him the ideal choice for this association.

Lifestyle 24-01-24

Manyavar to make South India debut with Vivaham

Ralph Lauren beats revenue expectations for 12th straight quarter

Defying economic jitters, Ralph Lauren exceeded the revenue expectations by Wall Street for the 12th straight quarter. The success of the iconic American brand success was driven by factors including a luxury boom in the US.

Wealthy shoppers in the US indulged in Ralph Lauren's classic sweaters and shirts, boosting sales despite economic concerns. This trend aligns with similar strong performances by other luxury brands like LVMH and Cartier.

While some brands faced sluggish wholesale business, Ralph Lauren's focus on direct sales helped mitigate the pressure. This strategy gave the company greater control over brand experience and pricing.

China continued to be key growth driver for Ralph Lauren with a 30 per cent surge in sales. This also reflected a recovering Chinese economy and growing demand for luxury goods.

Ralph Lauren's financial performance reflects its strategic positioning and ability to capitalise on key market trends. The company's strong showing bodes well for the future of the luxury sector, particularly with its focus on direct-to-consumer channels and targeted markets like China.

Lifestyle 24-02-09

Garment Mantra Lifestyle bags Rs 14 crore apparel export order

Fashion retailer Garment Mantra Lifestyle has received an export order of Rs 14 crore ($1.7 million) for its apparel products to be supplied over the next 3 quarters.

The export order is the company’s first from an export market and expects similar order from international markets in the future.

Prem Aggarwal, Managing Director, Garment Mantra Lifestyle, says, the order reflects the company’s efforts and the dedication of its management, designers, and sales team.

A wholesale unit, Garment Mantra Lifestyle Is engaged in the business of garment manufacturing and selling premium quality garments. The company has the required knowledge and resources to supply wholesalers with quality products that represent great value for money.

Lifestyle 24-02-03

Garment Mantra Lifestyle bags Rs 14 crore apparel export order

Metro Brands navigates headwinds as net profits in Q3 take a dip

Despite a 13 per cent dip in net profit in Q3, footwear giant Metro Brands remains upbeat, citing strategic moves and a thriving sneaker collaboration as key drivers for future growth. The company’s consolidated net profit declined to Rs 99 crore ($12.4 million) for the second quarter ending December 31, 2024, from Rs 113 crore in the same period last year. However, revenues climbed 6 per cent to Rs 635 crore, indicating a resilient demand despite the challenging market conditions.

Expressing satisfaction with the quarter’s performance, Nissan Joseph, CEO says, the company’s strategic approach has empowered us to navigate through these challenging times. A key highlight of the quarter was Metro Brands' partnership with global sportswear giant Foot Locker. This strategic alliance aims to elevate India's sneaker culture by offering diverse and trendy footwear options to cater to evolving customer preferences.

The company is confident of its ability to sustain this positive momentum and anticipate a robust performance in the upcoming months, adds Joseph, exuding optimism for the future.

Metro Brands' commitment to growth is evident in its aggressive store expansion strategy. The company opened 31 new stores during the quarter, bringing the total number of new stores added this fiscal year to 87. This expansion strengthens Metro Brands' physical presence and broadens its reach to a wider customer base.

While the dip in net profit may raise concerns, Metro Brands' focus on strategic partnerships, customer-centric initiatives, and physical expansion paints a promising picture for the future. The company's commitment to navigating challenging times and riding the wave of India's evolving footwear market positions them for continued success in the months and years to come.

Lifestyle 24-01-19

Metro Brands navigates headwinds as net profits in Q3 take a dip

Trent Q3 FY24 results reported

Painting a picture of robust growth Trent's Q3 FY24 net profit soared by 140 per cent to Rs 370.64 crore. The company’s revenues from operations surged by 50.5 per cent to Rs 3,466.62 crore. Its total expenses rose by 41.64 per cent to Rs 3,101.44 crore during the quarter.

Overall, operating revenues surged to 13 per cent as against 8.5 per cent for Q3 FY23.
In Q3 FY24, Trent’s fashion concepts registered a LFL growth of over 10 per cent vis-a-vis Q3 FY23.

Nuanced picture

Its emerging categories, including beauty and personal care, innerwear and footwear, contributed to over 19 per cent of its standalone revenue of Rs 3,521 crore
During the quarter, Trent also added five Westside and 50 Zudio stores across 36 cities, including 13 new cities.

As of December 31, 2023, Trent’s portfolio included 227 Westside, 460 Zudio and 28 stores across other lifestyle concepts.

The retailer plans to continue expanding its store presence and deepen its reach in new cities. It also plans to continue focusing on online operations and emerging categories like beauty and personal care.

Lifestyle 24-02-08

Pottery Barn opens new EBO in Mumbai

Making its India foray, US-based homeware brand, Pottery Barn has opened an exclusive brand outlet in Mumbai to offer a curated selection of furniture, accessories, and lifestyle products.

Located in the Jio World Plaza shopping mall in Bandra Kurla Complex, the store has been opened in partnership with Reliance Brands, It features a cream and natural wood color palette complemented by soft lighting. From fluffy towels to luxurious quilts, the store caters to every aspect of customers’ home comfort needs. It offers home textiles, including plush throws, cozy bedding, stylish table linens, and decorative cushions.

Beyond textiles, Pottery Barn offers handcrafted furniture pieces and statement decor including a unique coffee table or a captivating artwork. The store follows the November 2023 opening of India's first Pottery Barn Kids store, also located in Jio World Plaza. The Kids' store offers a range of textile products and interactive services like customisation.

Since its 1999 launch in the US, Pottery Barn has established itself as a leading homeware brand. In India, the brand is accessible through its online store and brick-and-mortar outlets in Mumbai and New Delhi.

Lifestyle 24-02-02

Lifestyle: Evolving Landscape of Indian Large Format Retailers in 2024

18 January 2024, Mumbai

In a series of articles, DFU Publications looks at how over the years India’s Large Format Retailers (LFR) have performed and are strategizing future success, with new challenges and new-age consumers.

Category Expansion, Tech-Enabled Shopping, Tier II Focus: Lifestyle Charts a New Course

All-encompassing retail giants are passé. Lifestyle, the iconic Indian retail powerhouse, is crafting a new story marked by expansive categories, technological innovations, and a deliberate focus on Tier II & III cities.

In response to the dynamic retail environment and shifting consumer expectations, Lifestyle is shedding its conventional approach, threading together a more intricate narrative to secure its position as a trailblazer in the Indian retail landscape.

Shifting Gears and Fresh Focus

The familiar sight of sprawling Lifestyle megastores is undergoing a metamorphosis. With the surge of e-commerce and discerning shoppers seeking more than just apparel, the traditional one-stop-shop model is evolving into a strategic fusion of online and offline experiences.

Trade dynamics

Seamlessly blending physical and digital journeys, the introduction of click-and-collect options is redefining the retail landscape.

Lifestyle is expanding its horizons beyond fashion, incorporating homeware, beauty, and kids' products to cater to the burgeoning demand for comprehensive shopping experiences. Moreover, the gaze extends beyond metros, with Lifestyle strategically eyeing the untapped potential of Tier II & III cities.

Adapting offerings and exploring smaller store formats, Lifestyle aims to tap into rising disposable incomes in these markets, marking the commencement of an exciting new chapter.

Beyond Brands, Beyond Bricks: Crafting a Novel Shopping Experience

Lifestyle is transcending the traditional brand-centric shopping experience. Prioritizing value, the retail giant introduces a mix of mid-range and premium lines, expanding its offerings beyond apparel.

HomeStop and Archies join the ensemble, addressing the desire for an all-encompassing experience under one roof.

It is much more than what meets the eye; Incorporating data-driven personalization through its loyalty program, Lifestyle takes up targeted promotions and recommendations.

Technology mixes with the shopping experience, with self-checkout kiosks, virtual trial rooms, and the Lifestyle Buddy app adding a personal touch.

This bold reimagining surpasses conventional brand and brick boundaries, embracing a future where convenience, personalization, and category harmony reign supreme.

Financial Performance

Lifestyle's financial performance reflects its strategic evolution

Year	Revenue (Rs crore)	EBITDA (Rs crore)	Store Count
2021	4,196	378	183
2022	4,412	405	187
2023 (estimated)	4,722	430	189

(Source: Company annual reports, industry research)

Masterplan for Growth

Omnichannel mastery is Lifestyle's new mantra. Click-and-collect options, streamlined delivery systems, and personalized recommendations blur the lines between online and offline, crafting a seamless shopping experience.

The focus shifts towards untapped territories – Tier II & III cities. Curated collections in smaller stores will flourish, targeting the rising disposable incomes in towns with deep pockets.

eco-centric; Sustainability is interwoven into Lifestyle's future. Initiatives like the "Clotheswap Festival" resonate with eco-conscious shoppers, hinting at a future where convenience, personalization, profitability, and sustainability converge, promising a dynamic, customer-centric future for the iconic retail giant.

Lifestyle faces intense competition from online giants and traditional brick-and-mortar players. However, a diversified portfolio, emphasis on technology-enabled experiences, and strategic expansion plans present promising opportunities for future growth.

The Road Ahead

Lifestyle is crafting a more intricate narrative beyond its conventional big-box approach. With a focus on category diversification, personalized experiences, and omnichannel mastery, the brand aspires to be the ultimate destination for families and conscious consumers.

While the journey to reclaim dominance in the Indian retail landscape is ongoing, Lifestyle's commitment to evolution and adaptation to changing preferences is a story that demands attention.

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Lifestyle 24-01-18