Sector specific magazine, Retail Week, has named India's HyperCITY as the country's top retail store in its report on '100 Shops You Must Visit.'
The downturn is forcing customers in Japan to scale back purchases of luxury goods, accelerating a long-term shift in consumer attitudes, according to a report by McKinsey, the consultants.
The luxury retail market, which is currently in its nascent stage was roughly estimated to be around Rs 1,500 crore (Rs 15 billion) and expected to grow at 20 per cent in next five years. The booming stock market and the recent news that India's leading industrialist, Mukesh Ambani, had even overtaken Bill Gates, to become the richest person in the world, is an indication that the country was ready for that ultimate 'haute couture' experience.
Louis Vuitton, Bvlgari, Christian Dior and their ilk have discovered the Indian rich and everyone is exulting over the coming of age of the Indian consumer. But long before these trendy luxury stores made their fashionable and perfumed entries into India, the Indian middle class consumer made a significant if little-noticed transition up the value chain.
The reasons for the growth of the luxury industry are not hard to find. It is still in a nascent stage in India and is growing at a scorching pace as the aspiration for better products is on the rise. The consumer market in India has shown a high growth trajectory and by 2025 is expected to become the world's fifth biggest consumer market as incomes and living standards are bound to grow, according to an Assocham study.
Lady Gaga brings cabaret to Paris opening ceremony on the Seine
Reliance Brands is in advance stage of talks to take over the India rights for premium makeup and beauty retail chain Sephora, from Arvind Fashions, according to two persons in the know. The Mukesh Ambani-led retail company is already in talks with developers to lease out stores for Sephora, said one of the above mentioned sources. While Reliance Brands was yet to answer Business Standard's query, an Arvind Fashions spokeperson, in an e-mailed response, said: "As per company policy, we do not comment on market rumours and speculation."
The actor teamed an embroidered bustier with tuxedo trousers and won fashion on the cover of Grazia.
It had initially planned to roll-out TAG Heuer phones in the first half of the current year, which it later revised to December 2008. The company now says it will launch the phones by March 2009. TAG Heuer has also revised the starting price of the phone, which was to debut in India for around Rs 2,20,000.
Buoyed by the success of Louis Vuitton and Christian Dior among upper circuit Indian consumers, other French luxury lifestyle majors Estee Lauder Companies Inc and Jean Paul Gaultier have also announced plans to set shop in India.
Genesis Colours, popular for its high-end fashion label Satya Paul, is in advanced negotiations with Moet Hennessy-Louis Vuitton for bringing luxury apparel and perfume brand Kenzo to India.
Business conglomerate Adani Group's chairman Gautam Adani is now the world's second-richest person after overtaking Louis Vuitton's Bernard Arnault, according to Forbes' Real-Time Billionaires List. At the time of writing this report, Gautam Adani's net worth was $153.9 billion, compared to Arnault's net worth of $153.7 billion. Adani is now just behind business magnate Elon Musk, according to Forbes' data.
Moet Hennessy Louis Vuitton known for luxury brands like Fendi, Christian Dior, TAG Heuer and Dom Perignon, has identified India as key to its expansion. The group is in talks with three leading domestic companies for partnerships.
In terms of price, Tag Heuer mobile phones will be positioned at the top end of the market and cost about Rs 2,21,000. Switzerland-based Louis Vuitton Moet Hennessy group, which owns the brand, has decided to launch the phones in India at the same time as their global launch.
Some of the world's richest people are the world's most frugal people.
Naomi Osaka launched her signature swimwear line.
Ditch puffer jackets and overcoats. Instead, jazz up your wardrobe by adding some chic and stylish footwear this winter.
Gautam Adani is now the fourth richest person on the planet. The chairman of the Adani group overtook Bill Gates -- once the richest man in the world -- this week.
The best and the worse styles...
French organisers turned Paris into an open-air Olympic playground where everyone was invited, with or without a ticket.
The prime minister was seen wearing a light blue "sadri" jacket as he sat in the Rajya Sabha in the morning.
Reliance Industries chairman Mukesh Ambani has overtaken Adani Group chairman Gautam Adani to become the richest Indian in the world with a net worth of $84.3 billion, according to Forbes Real-time billionaire list for 2023. Ambani overtook Adani after the Reliance Industries chairman's assets went up 0.19 per cent with an increase of wealth by $64 million while Gautam Adani's assets went down by 4.62 per cent with the industrialist's weath pegged at $84.1 billion according to the real time tracker of Forbes of 5 pm EST on Tuesday. Adani who figured among the top three billionaires in the world has dropped in the ranking to number 10 just below Mukesh Ambani.
Call Me Bae is a spirited new addition in guilty pleasures for the fashion-loving, rom-com starved soul, applauds Sukanya Verma.
You'll be surprised to know what it is.
'To see India being recognized at a global level at a platform like this... 'I think it says a lot about where we are as a nation and the road ahead for us as a nation.'
'Tis the season to be jolly! But for one hotel in Spain, it's also the season to be extravagant, ostentatious and over the top. The Kempinski Hotel Bahia, near Marbella, Spain has put up a Christmas tree adorned with diamond-encrusted decorations and upcycled jewellery from Bulgari and Cartier, making it possibly the world's most expensive one at $15 million.
Russia declared the soccer World Cup open on Thursday at a glitzy ceremony in Moscow headlined by British pop star Robbie Williams and Russian soprano Aida Garifullina.
Here's a round-up of the glossies for February. Vote for your favourite cover girl!
While social media has been agog about Emma's necklace, Maharaja Bhupinder Singh's grandson Captain Amarinder Singh (retd), the former Punjab chief minister, hasn't said anything yet.
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