Luxury leaf for Shoppers Stop

Shoppers Stop crawls into extravaganza

• Indian population is known to be price sensitive. Though recent times have witnessed constant evolution in the market, now Shoppers Stop is moving towards launching its own large format standalone stores with opulent luxury brands like Gucci, Louis Vuitton and The Collective, from Aditya Birla Group.
• The metropolitan cities like Mumbai and Kolkata will be the first slot cities to be the hom to these stores.
• The main behind this is step to give a whole new experience to the existing and future customers in order to increase the brand’s popularity in the luxury market which is currently run by other brands.
• Shoppers Stop is trying to somehow strengthen its position in the country’s luxury market which will reach to almost 100 billion in the next five to years.
• Shoppers Stop plans mammoth investment in this segment in order to captivate the opportunities present with the luxury item market.

India’s new-found fancy for luxury

• Bain & Co. reports suggests that country’s luxury retail market is poised to reach USD 85-90 billion by 2030. The growth is an outcome of a combination of several matters:

-Increasing number of Ultra High Net Worth Individuals

-Middle-class expenditure has raised

-Proliferation of ecommerce platforms

-Global brands have entered the Indian market with their basic product line

-A sharp rise in entrepreneurship

• Considering the evolving landscape, Shoppers Stop was quick to evaluate the gap in the market and geared up to fulfil the same through EBOs selling ultra luxury items.

Editor’s Note

Constant rise in the per capita income of the country invited several global luxury brands made their presence in India. From Italian Luxury Brand, Bvlgari launching its first India-only jewellery piece as ‘Mangalsutra’ to French Fashion House Louis Vuitton unveiling the ‘Rani Pink’ festive footwear collection, global houses have created niche in Indian market. At this backdrop, Shoppers Stop’s foray into luxury segment will garner natural success considering the brand value the organization comes up with.