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.
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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.
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.
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.
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.
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.
01 February 2024, Mumbai
CHARLES & KEITH Unveils New Concept Store in Gurgaon, India
The go-to label for accessible designs that are always on the cutting edge of fashion, CHARLES & KEITH, unveiled its new concept store on January 10, 2024, at the popular Ambience Mall in Gurgaon, India.
Following an extensive refurbishment, the redesigned space promises to redefine the shopping experience for customers, offering a harmonious blend of modern aesthetics and innovative design elements.
Minimalism with a Soft Touch
Retaining the clean and minimal color scheme that is the hallmark of CHARLES & KEITH's brand aesthetics, the new concept store is given a softer touch with gradual curves and cleaner lines flowing throughout.
Designed with the aim of being a space that allows customers to slow down and enjoy the process of browsing through the products, the new store is carved to provide a respite from the noise of the outside world, taking on a stripped-back approach to let the beauty of the raw materials used to come through.
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.
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.
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.
09 February 2024, Mumbai
Sanfe, India's largest online femcare brand, launches Glycoclear Technology, a revolutionary skincare innovation addressing complex body care issues faced by Indian women.
Key highlights:
Glycoclear Technology: A trademarked blend of AHAs and BHAs for exfoliation, faster absorption, and smoother skin.
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- Instalite Detan Body Cream: Detans in 10 minutes.
- Spotlight Body Lightening Cream: Targets dark underarms, neck, joints, and skinfolds.
- Clear & Confident Body Wash and Body Lotion: For body acne, tan, bumps, and dark spots.
- Underarm Lightening Roll On: Balances pH for long-lasting freshness.
- Reveal No More Bumps Body Scrub: Addresses keratosis pilaris.
- Focus on Indian women's needs: Addresses concerns like tanned skin, dark underarms, and keratosis pilaris.
- 18 dermatologist-approved products: Tailored solutions for various body concerns.
- Rapid growth: Annual revenue run rate of Rs 100 crore and target of 500% growth in 3 years.
- Financial commitment: 5% of turnover allocated to research and innovation.
- Funding: Raised USD 3.93 million, with a target of achieving INR 500 crore in revenue.
Quotes:
- Archit Agarwal, Co-Founder, Sanfe: "Our mission is to empower women with more than just products. With Glycoclear, we address a broader spectrum of their body needs."
- Harry Sehrawat, Co-Founder, Sanfe: "Glycoclear is about breaking free from body concerns and societal norms. Each product instills confidence and liberation."
- Mr. Preeti Ranjan Panda, Dean of Corporate Affairs Relations, IIT Delhi: "This transformative blend is a testament to our commitment to pushing the boundaries of knowledge and fostering impactful innovation."
Products:
Sanfe is poised to revolutionize the Indian beauty and wellness sector with its commitment to innovation and focus on women's empowerment.
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.
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.