Iconic anchors Gujarat expansion with 23,000 sq ft Rajkot flagship
05 January 2025, Mumbai
Premier multi-brand retailer Iconic has significantly scaled its Western India operations with the launch of a 23,000-sq ft flagship in Rajkot, marking its largest destination in Gujarat.
The launch underscores a decisive move to capture high-intent luxury consumers in Tier-II markets, where aspirational demand is currently outpacing traditional metro growth.
Featuring over 40 global and domestic labels - including Gant, True Religion, and premium designer collaborations - the store is designed to offer an immersive, high-touch environment that integrates luxury aesthetics with localized service.
Aarti Ahuja, CMO, Iconic India, notes, the expansion aims to bring a premium fashion experience to cities like Rajkot that are ‘genuinely excited about building something of their own’
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Capital deployment for a Rs 1,100 crore revenue milestone
This strategic entry is backed by a Rs 150 crore capital expenditure plan designed to penetrate 100 Indian cities by late 2027.
The retailer is currently targeting a revenue milestone of Rs 1,100 crore within three years, up from approximately Rs 650 crore in the FY24-25.
To sustain this revenue velocity, Iconic is diversifying its merchandising mix beyond apparel into high-margin categories like luxury luggage, timepieces, and bespoke designer wear.
Industry analysts highlight that with Tier-II and Tier-III cities now driving nearly 60% of organized fashion consumption, regional saturation is essential for maintaining dominant market share in the premium segment.
Navigating regional premiumization and operational agility
The Rajkot flagship serves as a case study in the democratization of premium retail, where the focus has shifted from mere transactionality to experiential destinations featuring in-store cafes and interactive centers.
By leveraging an omnichannel fulfillment model and a curated brand portfolio, Iconic manages to maintain high inventory turnover even in price-sensitive regional hubs.
This expansion is part of a broader vision to add 10 lakh sq ft of retail space over the next four years, ensuring the brand remains at the center of India’s evolving luxury consumption curve.
The vanguard of multi-brand premium retail
Founded in 2013 and headquartered in Gurugram, Iconic India is a leading multi-brand outlet operator under Samarth Lifestyle.
It manages over 25 flagship locations across India, housing 40+ international and domestic labels. With a Rs 1,100 crore revenue target, it remains focused on scaling its omnichannel presence across high-growth Tier-II corridors.
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