THE NUMBER OF STORES HASN’T GROWN ENOUGH TO CAPTURE THE GROWING NG DEMAND FOR AFFORDABLE LE LUXURY PRODUCTS IN INDIA.
PROPERTY PROP MATTERS
But the biggest obstacle in the overall secto sector remains the lack of quality retail spa space. One of the reasons why the ma market is yet to achieve its potential is ffor infrastructural reasons in the su supply chain. With the rise in real es estate prices, the number of stores h hasn’t grown enough to capture th the growing demand for affordable lu luxury products in India. This is b because there are still only a handful o of premium shopping centres across th the country that can provide a good c customer experience. In this, homegrown brands are d doing things differently by striking o out on their own. Besides selling t their products via their websites, t they have established concept stores in big cities to showcase their products. Inspired by iconic stores abroad, these shops offer Indian consumers a drastically different experience with in-house cafes, trendy magazines to peruse, and even photo booths to play around with. These brands have recognised the huge opportunity in the evolving Indian consumer, though it’s going to take a long time before they reach the scale of foreign players. But for the brands themselves, their very presence, besides their growing success, is a sign that they’re on the right track.