Reliance Brands Ltd (RBL) will pick a 40 per cent minority stake in renowned fashion designer Manish Malhotra's MM Styles Pvt Ltd, for an undisclosed sum, the two companies said on Friday. This is the first external investment for the brand, which had so far been privately held by the designer. The strategic partnership is aimed at accelerating the 16-year-old couture house's growth plans in India and across the globe, they said in a joint statement.
American brands top the domestic retail space with 30 per cent share, especially in the food & beverages sapce, while the Italian and British labels dominate the luxury segment.
The recent blip in housing sales on a quarter-on-quarter (Q-o-Q) basis should not worry investors as the long-term prospects of real estate stocks remain on a strong foundation, according to analysts. In the first half of the calendar year 2024 (H1CY24), realty stocks surged up to 104 per cent. This sharp run should be used to book partial profit in related stocks, suggested Deepak Jasani, head of retail research at HDFC Securities.
The ban does not speak about used luxury cars.
Kolkata-based Spencer's Retail is scouting for international lifestyle brands, and is in talks with several global firms dealing in apparel, footwear, luxury retail and lifestyle products.
The list of guests included celebrities from across the globe, politicians, the who's who of Hindi and south Indian cinema world and almost all the top cricketers of the country.
Tata Motors owned Jaguar Land Rover will start producing its Range Rover and Range Rover Sport in India, marking a first for the iconic models in their 54-year long history, to be rolled out from a country outside of the UK. Till now the two models were only produced in Jaguar Land Rover's Solihull plant in the UK and then exported to around 121 markets globally, including India.
The government has cleared a proposal by Luxury Goods Retail for foreign equity participation of 51 per cent by Gucci Group NV, Netherlands with an investment of Rs 1.04 crore for retailing Gucci brands in the country.
Spencer's Retail, part of the Rs 11,000 crore (Rs 110 billion) RPG group, is looking for foreign retail partners for foraying into luxury retail as well as strengthening its presence in consumer electronics.
Weekly announcements of yet another luxury brand succumbing to the Indian market are hardly news any more.
Self-indulgence is the new motto of the uber rich as more foreign luxury brands announce their presence in India.
Consumer durables firms and fashion retailers expect double-digit growth in value terms in the ongoing festival season as consumers have stepped up purchases during this period. They expect to see value sales growth upwards of 15 per cent, which is especially coming in from cities. However, volume growth may lag behind value growth.
Give us your take on the fashionable (and not-so-fashionable) choices of these famous faces.
The interior designer, who recently split from her husband Hrithik Roshan, played hostess to her friends from the industry.
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.
'Understand how wedding expenses fit into your overall financial situation.' 'Evaluate how different levels of spending will impact other goals like retirement, travel, or housing.'
At the end of May, out of 26,500 outlets about 60 per cent showrooms and 80 per cent workshops were operational across the country.
UK fashion retailer Superdry on Wednesday said it will sell its intellectual property assets in South Asia to Reliance Retail for 40 million pounds (Rs 402 crore) through a joint venture. Superdry, whose fashion line mostly includes sweatshirts, hoodies and jackets, will own 24 per cent of the joint venture while Reliance Retail, India's largest retailer, will have the remaining 76 per cent. Under the agreement, Superdry's brand IP assets in South Asia will be permanently transferred to the new JV entity.
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."
Mamata Banerjee, who had pulled out of UPA-II over FDI in retail, among other issues, would dedicate mall to people of Kolkata.
Giorgio Armani SpA, the Italian fashion company which designs fashion accessories, apparel, cosmetics, fragrances, home interiors, eyewear and watches, among other things, opened its store in India in the middle of a slowdown. The company's deputy managing director John Hooks who has considerable experience in luxury retail in Asia was in India some time ago and spoke to Business Standard's Anoothi Vishal on Armani's India plans.
The move also follows on the back of the worldwide slowdown and the company's plans to go slow on establishing new Tag Heuer exclusive boutiques. The company wants to develop high-end luxury accessories for exclusive retailing though the Internet.
In an effort to bring a new set of consumers on board, luxury car maker BMW recently launched its least expensive name-plate - the BMW X1.
Cash-strapped Lilliput, the country's largest kidswear brand, may soon get a luxury makeover.
Three different invitations were sent out for the wedding and the receptions with top-run guests being sent a large red box that contained an intricate chest incorporating a mini silver temple featuring gold idols of various Hindu deities, including Lord Ganesh, Radha-Krishna, and Goddess Durga.
India's rank was further amplified by the collapse of the South American and Russian economies.
Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'. Experts from banking and real estate sectors attributed this growth in housing credit outstanding to a strong revival in the residential property market post-COVID pandemic on pent-up demand. According to the data of the Reserve Bank of India (RBI) on sectoral deployment of bank credit for March 2024, the credit outstanding to the housing (including priority sector housing') stood at Rs 27,22,720 crore in March 2024, up from Rs 19,88,532 crore in March 2023, and Rs 17,26,697 crore in March 2022.
Move over Delhi and Mumbai - Surat, Jaipur and Ludhiana are emerging as big spenders on luxury goods.
Identifying Indian youth as engine for growth of retail sector, global professional services firm Ernst & Young said on Friday they offered a huge consuming audience for lifestyle and luxury products.
"We are seriously considering raising the bar further- that means to allow increased FDI," Commerce and Industry Minister Anand Sharma said at a CII event on Indian luxury market.
Deepika Padukone was just one among several celebrities at Vogue's Fashion's Night Out, a luxury retail extravaganza in Mumbai.
The numbers in India may not be as big but the opportunity for serious growth is all there.
When its founder, Raghunandan Kamath, took a calculated risk, his Bollywood customers backed him all the way, say Rohith Potti and Pooja Bhula.
The company has identified India as one of the two key markets in South Asia.
Hugo Boss intends to focus on frachisees in India.
A young couple sharing a laugh - in the living room over a Polish joke book, on the beach, in the rain - with the tagline, "Made for each other", hung from billboards at prominent street corners from the 1960s to the 1990s. It was a campaign for one of the largest selling cigarette brands in India, Wills (Navy Cut) from the ITC stable, that resonated with a generation of smokers and non-smokers alike till the curtains came down on tobacco advertising in 2004. As we prepare to welcome 2024, ITC has metamorphosed from a tobacco giant into a conglomerate straddling multiple large-sized businesses. In the mind space of Gen Z or millennials, the company represents a gamut of branded products - from frozen food (ITC Master Chef), noodles (YiPPee!), and cookies (Sunfeast) to snacks (Bingo!) and notebooks (Classmate), and so on and so forth.
The government has approved a proposal of British luxury apparel brand Burberry to set up a joint venture in India for single brand retailing. The 153-year old company, famous for its high-end apparels, like trench coats and mufflers, plans to tie-up with Gurgaon-based fashion retail house Genesis Colors for setting up single brand exclusive retail outlets.
The K-shaped economic recovery in India from the pandemic slowdown shows in corporate results as well. The automobile sector, which represents big-ticket consumption, continues to do well and has increased its share in corporate revenues and profits while fast-moving consumer goods (FMCG) companies that sell low-ticket consumer goods are struggling with poor sales and earnings growth. The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023 (Q2FY24) from 8.94 per cent a year earlier and 9.75 per cent in Q1FY24.
Rolex has been masterful at playing the demand-supply game, limiting its issue of coveted and in-demand watches to only one or two pieces per dealership.
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