Furla seeks FIPB nod for India joint venture with Genesis Luxury Fashion

Italian premium handbag and accessories retailer Furla has sought government’s approval to open single-brand retail outlets in the country through a joint venture with New Delhi-based Genesis Luxury Fashion. The Italian brand known for its women’s handbags and shoes has sought the Foreign Investment Promotion Board (FIPB) approval to form a 51%-49% venture with Genesis. […]

Luxury brands move out of five-star hotels to high street, malls

Louis Vuitton, Jimmy Choo, Ermenegildo Zegna, Burberry, Bottega Veneta-—a few of the bona fide luxury brands available in India. As they try and crack the local market, those responsible for marketing such brands in the country have come to realize that location may not necessarily be everything. That it’s far more important to have a […]

Luxury brands go online to avoid high rentals

Brands like Giorgio Armani, Jimmy Choo, Canali, Paul Smith, Bottega Veneta, Etro, Crabtree and Salvatore Ferragamo are either launching their own websites or tying up with luxury e-commerce platforms to reach out to consumers instead of investing in high rentals and facing other infrastructure issues. For example, the average rent at DLF Emporio is around […]

FDI will help add new flavours to Indian luxury market: Anand Sharma

Quaint carpet designs from rural India may soon find a global market with the opening up of retail sector to foreign direct investment. Commerce and Textiles Minister Anand Sharma listed out the benefits of FDI in retail to a largely rural audience in this Parliamentary constituency of Congress President Sonia Gandhi. The recent policy initiatives […]

Luxury brands like Louis Vuitton, Armani rush to Chennai

NEW DELHI: Venu Srinivasan, chairman and managing director of TVS Motor, says he belongs to the ‘dinosaur era’ when fellow Tamilians were embarrassed to buy a car, let alone flaunt it. “I used to drive around in a Hyundai Santro even seven years ago. But today, our children cannot do without big cars, premium homes, […]

Luxury brands target India’s conservative markets

With traditionally conservative markets like Surat, Chennai and Kolkata now emerging as the cities for luxury labels more and more international luxury brands are looking to make their presence in these places. These cities have opened a wealth of opportunity for brands like Louis Vuitton, Armani and Burberry. As Sanjay Kapoor, MD, Genesis Luxury puts […]

Global luxury brands opt for ‘sale’ route to woo customers

After the rush to declare early discount sale by most global and domestic apparel brands and retailers, to clear inventories and make way for the fresh stocks, global luxury giants like Chanel, Christian Dior and others too have joined the fray. Most have opted for sale or low price-tags on select items to attract first […]

High-end luxury brands yet to take off at Indian airports

NEW DELHI: A few months ago, senior executives of Italian luxury brand Salvatore Ferragamo met officials at the Delhi international airport and came away impressed by the swanky T3 terminal. But will travellers get to shop for Ferragamo’s famous Wing-tip Derby shoes while in transit? Well, no, since the company is not setting up shop […]