Most consumers tend to go bargain hunting online. For a large part of 2019, luxury mall managers reported that sales were lacklustre. Luxury goods websites, however, managed to buck the trend because of 20-50% lower costs on their sites. But at the moment, watch companies do not seem to be finding too many takers in tier-2 and 3 towns.
It costs Rs 5-6 crore per store to set up and over the next three years, the company will spend Rs 50-60 crore on The Collective portfolio, its brand head, Amit Pande, said. “We want to double our footprint and our monobrand portfolio will also see growth. However, those (mono-brand) stores cost much less at about Rs 2-3 crore per store to set up.”
Black Friday, or the Friday after the Thanksgiving Day in the US, is regarded as the beginning of Christmas shopping season there. Some marketers consider it a “business occasion” to acquire new customers while some others use the occasion to push fresh merchandise sales before winter sales kick in around December 20.
High operating costs and soaring rentals are the bane of luxury retailers who have also noticed a 20-25% reduction in footfalls. The non-existant growth of luxury brands in India, according to experts, can be attributed to a confused strategy followed by brands. Experts say, luxury brands are selling old collection in India which is driving sales down.
Hotels should look to lower their carbon footprint, and protect the ecology.
But things may be changing for the better: more millennials are opting for ‘greener’ holidays, and many resorts, homestays and hotels across the country from Gir and Bandhavgarh to Andamans and Kerala are working to build a conscious client base.
The Paris-based luxury perfume company, which originally began as a tailoring house in England in 1760s, will have two outlets here in the coming year. Erwin Creed, the company's seventh generation perfumer and owner said that the company is focusing on the Asia and Middle-Eastern markets in a big way but will only expand here gradually.
Demand for precious stones in jewellery is growing with urban buyers willing to pay top price for them.
From inhouse organic gardens, strict farm-to-fork policies and consumer awareness and education initiatives to menus built around local, seasonal produce and reducing food loss and wastage, some leading eateries have stepped up their commitment to sustainability, in the process changing the way well-heeled urban Indians dine out.
Two young Kasliwals now hold the reins of a ninth-generation business that counts monarchs, tycoons and celebrities among patrons.
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