In recent years, the Indian market has attracted several luxurious brands in the country. The reason behind this has been the country’s luxury potential. The first luxury malls were opened in India in Delhi and Bengaluru in 2008, i.e., DLF Emporio and UB City respectively. And since then, we have come a long way. 2019 was one of the biggest years for luxury fashion brands in India. According to The Business of Fashion and McKinsey report, more than 300 international brands will be entering the Indian market and opening stores in the next two years.
Global fashion brands are now seeking India for its next phase of growth. The time for the high-end luxury fashion brands for expanding their market and launching their products in India is perfect. There have been some strong regulatory changes in the country like FDI policy changes. In 2018, a policy change was made. This allowed a 100% FDI in single-brand retail through the automatic route. This policy works in favor of white goods companies and international fashion brands. These changes have been focused on strengthening the Indian manufacturing industry, rising middle-class income, and Make in India.
Indian market – a hot-spot for international fashion brands. Indian consumers now have a new appreciation and awareness of high-end goods. They are seeking luxury fashion brands consistently for enabling their individuality and self-expression. All the official forecasts across different industries have reflected a positive outlook for the fashion brands on the Indian market.
Also, the improved ranking on the ‘Ease of Doing Business’ ranking from the World Bank has surely led to an increase in foreign investment in the country. Several international fashion houses have already made plans for launching their stores in India. Another policy change that works in favor of the luxury fashion brands is the relaxation of the government’s mandatory local sourcing condition of 30%. This has allowed the brands to not find local qualified manufacturers and source directly.
Another factor that has come into play is the rise in the middle class’ disposable income. Thanks to the recent budgetary announcements, the government has increased the non-taxable income brackets. This is only going to increase growth in this sector. With more avenues available and rising disposable incomes, the brands are expected to see more sales in the future.
Success stories of international luxury brands in the country International brands like Prada, Gucci, Ralph Lauren, Louis Vuitton, and others have experienced exponential growth in the country. These luxury fashion brands are now seeking new avenues for profits and growth in the country. In 2018, Gucci was able to see every single piece of its casual tote bag worth $4000. This was when the bag was not even a collectible or a signature piece. Christian Louboutin has seen similar success with its designer products in the country. The two Christian Dior stores in Mumbai and New Delhi have had a huge success. The success story of Zara in the country is another case study. It has more than 17 stores in the country which have sold more than $100 million worth of products.
All this success of luxury brands in India is because of the Indian consumers who have exhibited higher preference towards these brands. There has been a growing appetite for luxury things and it is not going to decrease any time soon. This has made the country an aspirational market for international luxury fashion brands. Brads have started to consolidate their positions by looking at strategies for expansion.
Indian market still has a lot of untapped potentials. As this integration between the global trends and the Indian consumer continues, luxury fashion brands will only be finding increasing growth in the country.
Here is the top 10 best luxury fashion brands in India:
Armani
This is one of the most renowned and expensive brands in the world that clearly doesn’t need any introduction. It was founded in 1975 by Giorgio Armani. This Italian fashion house sells almost everything fashion-based that a person can look for.
This includes haute couture, accessories, perfume, cosmetics, home interiors, etc. All of these products are marketed under different sub-labels. This includes brand names like Emporio Armani, Giorgio Armani, Giorgio Armani Prive, Armani Collezioni, Armani Casa, Armani Baby, Armani Junior, A/X Armani Exchange, and AJ – Armani Jeans. Overall, Armani can be considered as a brand of prominence.
The Fashion line from Armani is named Emporio Armani. It features ready-to-wear and trendy runway collections. They are known for designing, manufacturing, distributing, and retailing lifestyle and fashion products. The brand believes in conveying a fun, effervescent, and lively creative spirit manifesting vitality and glamour.
Currently, the brand has six stores in India in New Delhi, Mumbai, and Hyderabad. Through its youthful modernity atmosphere, the brand is catering to the needs of the Indian customers. They have a cosmopolitan lifestyle and fashion collection along with an underlying elegance. This is the quality defining this great brand.
Dior
The best words to describe this high-end fashion brand are elegance, variations, and plush design. Founded by Christian Dior in 1946, the brand is known for producing leather goods, footwear, fashion accessories, jewelry, make-up, skincare, and perfumes. However, the brand is at the forefront of its haute couture.
The brand was launched in the Indian market in 2016. And since then, it has been successful in making its mark on the Indian customers through its exquisite French fashion styles. With so many high-end fashion brands in the country, Dior has still been able to get appreciation from the fashion consumers. The reason behind this is the exotic product varieties offered by the leading fashion apparel brand including classy designer handbags, apparel, sunglasses, perfumes, and much more.
Christian Dior’s ‘New Look’ line has been able to make incredible contributions to the brand in terms of fame and earnings. When it comes to ready-to-wear fashion apparel and accessories and men’s wear, the brand has been able to emboss several benchmarks. The brand has boutiques in New Delhi and Mumbai and they have been able to successfully live up to the style and luxury that is the brand’s essence.
Versace
Versace is a very popular Italian fashion brand that was founded in 1978 by Gianni Versace. And even though he was killed in 1997 by a serial killer, his legacy is alive and well. The brand is an epitome of high-end fashion wear, cosmetics, perfumes, accessories, and home furnishings.
The brand has created custom outfits for celebrities like Princess Diana, Elton John, and Madonna. Through these outfits, the brand has been able to display a high-class look in its signature style.
Versace is undoubtedly one of the leading luxury fashion brands in the world. It has been a symbol of Italian luxury that epitomizes sensual glamor. Versace owns a 230 sq. m. flagship store space with Italian floor tiles and a minimalistic boutique style at the New Delhi’s DLF Emporio mall. For suiting the conditions of the Indian market, the brand has plans for revamping its pricing, products, and strategies for distribution. For strengthening its customer base, the brand has set some realistic goals.
The brand is planning to venture into the real estate market. It has made ties with ABIL Group, the renowned real estate developers and builders for developing an exclusive residential project in South Mumbai. Through this partnership, the brand will be creating residential spaces offering unique apartments to its customers. The apartment will have ultra-modern facilities created for a luxurious lifestyle.
Burberry
This 100 years old British brand was founded in 1856 by Thomas Burberry in Hampshire. The first store was opened in 1891 that sold high-end outerwear. Today, the brand has stores all across the globe.
It deals in outerwear, fashion accessories, jewelry, and perfumes. It is also known for designing a royal collection for the Queen and Prince of England.
In India, Burberry owns four stores. This includes the UB City mall in Bangalore, Emporio Mall in New Delhi, a 400 sq. m. flagship store at the Palladium mall in Mumbai, and the Taj Krishna hotel in Hyderabad. Since its launch in the country, it has been actively engaging in personalized tactics in digital platforms and mobile as well.
Hermes
Thierry Hermes, the french designer launched this brand in 1837. Since then, it has been specializing in everything. This old brand has product divisions covering high-end fashion accessories, leather, perfumes, ready-to-wear, and luxury goods.
Hermes is the first international luxury fashion brand that introduced high street outlets in India. They have stores at the Oberoi, New Delhi and Horniman Circle, Mumbai. Based on craftsmanship creativity, this brand is best known for its neckties, scarves and Birkin handbags.
Hermes wanted to match the magnificent history of textiles and craftsmanship of India. For this, they introduced a sari collection with prints of scarfs. The prints were inspired by Indian designs. Through this limited edition, the brand managed to show their appreciation for the Indian culture.
Prada
Prada is one of the most influential luxury fashion brands. It has been designing clothes for over 30 years. And over this long time, it has managed to stay on the top. One of the main reasons for their staying power is their enduring brand aesthetic combined with the mastery of reinvention.
Founded by Mario Prada in 1913, this Italian luxury brand is not making great strides in India as well. It is a luxury goods brand that sells apparel, bags, footwear, sunglasses, etc.
They are known for using acute craftsmanship and high-end raw materials for making the products. Overall, you can say that Prada has brought a new era of innovation, sophistication, and uncompromising quality in India.
Louis Vuitton
The relationship between Louis Vuitton and the Indian consumer goes back to the era of the Maharajas. The brand has been constantly addressing the needs of Indian luxury customers through its dynamic understanding, collaborations, and effective strategies. The strategy of Louis Vuitton is targeting the Indian market potential through the recognition and addressing of the faced challenged.
Their strategy decisions include market, sponsorships, targeting the nouveau-riche, store locations, adaptability to the Indian culture, and utilizing the local resources efficiently. Through this, they have been able to target young millionaires and new dwellers.
Louis Vuitton has also been trying to localize their approaches, identify important events, celebrate among potential clients, and coming with personalized services and gifts for the occasion.
Ermenegildo Zegna Group
When it comes to luxury men’s clothing, Ermenegildo Zegna Group is the world’s leader. This Italian luxury fashion brand is known for making clothing and accessories for men. This was the first luxury fashion brand retailer that entered India with a 51 percent stake after the single-brand retailers were allowed by the government to do so.
The company ventured into the Indian market with its ready-to-wear line of men’s clothing, followed by accessories, knitwear, and sportswear. All the products were aimed at the top end of the market. The market has three stores in India – the DLF Emporio in New Delhi, the Palladium Annexe in Mumbai, and the Taj Krishna in Hyderabad.
Hugo Boss
This German luxury style house was named after its founder. The brand is known for personifying sophisticated fashionable essentials for men and women. However, it is the men’s collection that is extending elegant and modish evening and boardroom wear. They try to create advanced effortless looks. The women’s collection follows the feminine trends and focuses in maintaining sophisticated specifications and exquisite materials.
In February 2016, the brand Hugo Boss announced their partnership with Genesis Luxury for entering the Indian market. Currently, there are two Boss stores – at the Palladium Annexe in Mumbai and at DLF Emporio in New Delhi.
Salvatore Ferragamo
Salvatore Ferragamo has been trying to improve its competitive position in the global luxury fashion market through its glamor, creativity, and Italian craftsmanship. They aim to consolidate their position and use a contemporary style to enhance their glamor and classical elegance. All of this helps them in keeping pace with the times.
In India, they have been trying to maintain their status in the high-end luxury brands through an emphasis on the excellent quality of its Italian products. Currently, there are 7 stores in India in Mumbai, Delhi NCR, Bangalore, and other locations. It is a popular brand offering products across a wide range like jewelry, fragrances, hats, shoes, eyeglasses, ties, handbags, gloves, scarves, watches, etc.
Launching a high-end, global fashion brand in the Indian market is not a small feat. The retail sector is still unorganized and brands need a strategic partner for providing insights for the Indian luxury market. The way things are going, more and more luxury brands will be opening their stores in India. And soon, India will turn into a hub for luxury fashion brands
