THE NUM­BER OF STORES HASN’T GROWN ENOUGH TO CAP­TURE THE GROW­ING NG DE­MAND FOR AF­FORD­ABLE LE LUX­URY PROD­UCTS IN IN­DIA.

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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.

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