You may be surprised to learn that India is the world's newest focus for luxury consumers
; with high-end labels opening stores for the rising demographic of India's fashion lovers.
After the release of the Sex and the City
sequel, TSG International Marketing Pvt. Ltd. launched the Halston Heritage collection of fashion dresses in India, marketed by actress Sarah Jessica Parker. TSG also operates a multibrand boutique called Kitsch in Delhi and Mumbai
, selling high-end labels including Alexander McQueen, Stella McCartney, Diane Von Furstenberg, Lanvin and Halston Heritage.
While more and more internationally acclaimed labels are making their way into India, the shoppers in India are still just as fond of a bargain as their lower-end counterparts. Shoppers compare prices on luxury goods with prices in West Asia, Hong Kong, Singapore, as well as the U.S. and the UK, to make sure that they get the best bargain. To accommodate the bargain-buyers, TSG announced that the company was lowering its prices by five to ten percent to compete with the international market pricing.
"This realization and the effort that brands have put in to educate the clientele that they offer the latest merchandise here at globally competitive prices have fuelled the growth of the market in India," says Sanjay Kapoor, managing director, Genesis Luxury (part of Genesis Colors), which is the franchise for Bottega Veneta, Burberry, Canali, Etro, Just Cavalli, Jimmy Choo, Paul Smith and Tumi in India, with 25 stand-alone stores in all for the varied brands across Delhi, Mumbai, Bangalore and Hyderabad.
TSG plans to introduce new brands such as YSL, Catherine Malandrino and the Celine and McQ second line for Alexander McQueen later this year. India has already begun to become a popular destination for those seeking unusual spa experiences and the introduction of luxury shopping is sure to make India a popular vacation site.