With a slowdown in the US and European economies, foreign brands are now setting their eyes on the lucrative Indian market with an investment of over $90 million. Paris-based luxury goods group Louis Vuitton Moet Hennessy (LVMH), Danish fashion house Bestseller with 4 brands, DLF Retail and Reliance Brands (a unit of Reliance Retail), Swedish fashion retailer Hennes & Mauritz, American high street casual wear brand Brooks Brothers, Italian luxury apparel player Emilo Pucci and many others are looking for strategic alliances with each other and new starts in India. These retailers are targeting the major cities in India like Delhi, Mumbai, Ahmedabad, Chennai, Kolkata, Bengaluru, Lucknow and Ludhiana.
While India was a promising market to many international brands, it was not completely immune to the global economic flu. More than its primary impact on the economy, it sobered the mood in the consumer market. Even the core target group for international brands, that had just begun to splurge, apparently without guilt, tightened the purse strings and either down-traded or postponed their purchases. Hence its essential for these Retailers to position themselves in a rational way to alert Indian consumers.
(Courtesy- The Financial Express & Images Fashion.com)
While India was a promising market to many international brands, it was not completely immune to the global economic flu. More than its primary impact on the economy, it sobered the mood in the consumer market. Even the core target group for international brands, that had just begun to splurge, apparently without guilt, tightened the purse strings and either down-traded or postponed their purchases. Hence its essential for these Retailers to position themselves in a rational way to alert Indian consumers.
(Courtesy- The Financial Express & Images Fashion.com)
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