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Global premium apparel retailers eye Indian markets
08
Feb '10
While the US and Europe are still grappling with recession, global luxury apparel retailers are eyeing markets like India, which has put itself firmly on the path of recovery.

Global brands are relying on Indian retailer's understanding of the local market while Indian retailers are reworking the price in accordance with preference of the consumers.

Retail chain major Shoppers Stop is all set to launch Playboy brand of unisex wear, and textile conglomerate S Kumars group is bringing in three international brands by the end of this fiscal.

Rahul Mehta, president of Clothing Manufacturers Association, says, “Indian retailers, tying up with international brands, are giving them an insight of the Indian market and taking the responsibility of marketing on franchisee basis, which is being preferred by the overseas brands".

Shoppers Stop, which had launched foreign brands like MAC, Mothercare and Austin Reed among dozens of global brands, now plans to add about half-a-dozen international labels soon.

Arvind Brands, which has a licence to market premium segment men's wear brands such as Arrow and Gant, has launched 'Izod' in India, a label of global apparel firm Van Heusen.

The market for luxury and premium brands in India is estimated at about Rs.6,000 crore- Rs.7,000 crore and growing at about 25-30%.

Industry analysts contend that, the global luxury brands which were laucnched In India in earlier years, were highly priced for the Indian consumers.

Now, in order to sustain in the market, most of them have started discount selling.

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Fibre2fashion News Desk - India

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