A bunch of luxury brands is preparing to launch stores in India to coincide with the arrival of the festive season, hinting at a boost for the industry after a two-month slowdown because of the extreme summer heat and general elections. In Delhi, brands preparing to launch stores include accessories and shoe brand Aquazzura, perfumer Diptyque, crystals, glass and jewellery brand Baccarat, and menswear brand Golden Goose, among others. The store openings are spread across the three metros.
In Mumbai, Tudor watches, a sister brand of Rolex, will open its first mono-brand store at the Jio World Plaza before the end of this fiscal. Clothing and accessories brand Amiri will also do a small popup in Delhi to get a flavour of the market. And in Bengaluru's luxury mall, Mall of Asia, a Hublot watch boutique will launch by August-end to capture the business from the upcoming festive season.
The sales in luxury businesses are likely to see a gradual increase starting this month and achieve normalcy as the festive season approaches. “The market is seeing better vibrancy and a spike in business since June and now July," Pushpa Bector, senior executive director of DLF Retail, said. 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 Colle.
