India is slowly and gradually accepting luxury and increasing the space for luxury in India. According to a recent report by Cushman & Wakefield, luxury in India will acquire 1.44 per cent of the total retail market by 2015 as against one per cent currently, while the total retail malls stock is set to increase by 27 per cent by 2015.
Highlighting the changing luxury retail scenario in India, the report suggests that total current operational mall space in the organised retail sector across the top seven cities of India is estimated at 66 million (approx.) sq. ft. of which luxury retail space is only 770,000 sq. ft.
Of the seven cities, Delhi/NCR leads the space acquisition at 38 per cent, followed by 21 per cent in Mumbai and 17 per cent in Bengaluru.Due to a strong mall culture and fashion hubs in the country, NCR and Mumbai lead the show while a great level of disposable incomes and a leading IT hub Bengaluru has become the third best destination. Continue reading Delhi leads to be the luxury capital of India
The Indian luxury market is growing stronger as more and more brands enter the Indian market and the Indian consumer is all set to shell out. This weekend we bring to you a compilation of some Indian and international luxury products.
Here are the recommended must haves this weekend: Continue reading ’10 Must Haves’ this weekend – Luxury Special
Now that’s some shift between two exclusive retail brands. Apple, the technology major, has appointed luxury brand Burberry’s CEO, Angela Ahrendts, for its retail division.
Apple, which has been known for launching benchmark products, will have Ahrendts to accelerate the future of Apple’s retail division. The brand thinks that Ahrendts’ experience in technology, fashion retail and commerce will prove to be helpful for the brand. The idea is to create innovative retail strategies that will not create monotony for the brand in the future.
Pic Courtesy: http://www.telegraph.co.uk
According to Los Angeles Times, during Ahrendts’ tenure with Burberry, the British luxury brand’s revenue grew to $5.1 billion in the year that ended March 31 from $1.1 billion in fiscal 2005, and its shares soared 268 per cent.