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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Luxury brands getting set to open new doors, to be ready by festive quarter
DLF Emporio, one of the country's largest luxury shopping destinations, recently concluded its luxury shopping festival in May to induce additional demand. Over a two week period, customers spent about ₹30 crore at the festival, largely led by fashion and jewellery purchases. Amit Pande, business head of The Collective & international brands at Aditya Birla Fashion and Retail Ltd., said June saw a recovery for the sector following the summer and general elections.
“The industry expects that there will be good growth around the festive season," said Pande. At the DLF Emporio, a new zone is set to launch for ‘pret’ or ready-to-wear ensemble collections of young Indian designers. The company's other luxury shopping centre in the city, The Chanakya mall, will see a flagship Rolex mono-brand store along with a dozen new brands between October and November, including Diptyque, and Golden Goose.
The mall will also see a second store launch from Swiss chocolate brand Läderach, which was brought to India by Dharampal Satyapal Group (DS Group). There will also be a focus on opening a section for 'home and gifting' this season. Home and gifting' is a whole new category for the luxury mall division now.
“We are also seeing an overall category broadening and so a widening of the luxury market. We now see an influx of more millennial and Gen Z ‘aspirational’ consumers, discovering luxury through digital media. This phenomenon is a classic indicator of growing disposable incomes and general economic well-being because many of them are getting added to the new buyer base," Bector added.
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