Swati Anand | tnn
not Deepavali yet, but luxury brands are all set to celebrate. Last
year, the economy had only just hit recovery mode and the year before,
was the slowdown year, which saw a dull festival season. But this
year, with the economy back on track, luxury retailers may see cash
registers ring like never before.
expect Deepavali to be a fantastic seas'on for us. We're looking for at
least 20 % rise in sales," says Charu Sachdev, CEO of The Sachdev Group
(TSG), which is selling brands like Moschino, Jean Paul Gaultier and
Luxury shopping destinations like DLF Emporio in Delhi and UB City Mall in Bangalore are abuzz with activity. Unlike their international stores, where new collections are released closer to Christmas, brands are launching
sales will only increase," says Olivier Bernheim, CEO-president of luxury watch brand Raymond Weil.
Weil and Seiko recently opened their exclusive boutiques in Chennai's
-Express Avenue Malt-and the timing is clearly well planned. "While we
grew 42% in 2009-10 in India, we have grown by 84% in the period of
April to September. This season, things will only get better1,-says Hi-rohiko Umemoto, executive director (international sales and marketing), Seiko.
And although luxury buying largely comprises of personal gifts, corporate gifts are also on the rise.
year the sentiment was low and corporates hardly shopped for gifting.
This year, however, we are getting many inquiries for gifts from our
luxury brands," says San-jay Kapoor, MD of Genesis Luxury which sells
Paul Smith, Kenzo and Just Cavalli.
offers gift vouchers in denominations ranging from Rs 5,000 to Rs
50,000 are being snapped up by corporates. At Dunhill, enquiries are
pouring in for small leather goods. "Corporates also look for small
accessories. We also offer them a lot of personalisation in their gifts, be it in the item or the packaging," says Anjani Kasliwal, director (group), SKNL, which has brought down Dunhill.
Industry experts say that the luxury brand market will see an increase of 25% in sales this season.
the more recently, launched brands may not see this spurt, brands like
Louis Vuitton, Armani, Chanel, Gucci and Canali, which have been around
longer and are more visible, will definitely see a sharp increase in
sales," says Arvind Singhal, chairman of Technopak.
new collections to cash in on the festive spirit.
which launched the 'Nawab Collection' a couple of seasons ago, has
added the 'Blue Nawab' collection. Jimmy Choo has introduced jeweled
bags and Bottega Veneta has launched new home accessories and desk
sets. This season also happens to be the
wedding season and that only adds to the shopping fervour in the luxury segment.
"The wedding season contributes greatly to our revenues.
And that's the reason why sales never dipped dramatically during the
slowdown. This year, with the good monsoon, the rising sensex and the bright job market,