India enticing luxury retailers

Luxury and premium-end retailers are looking to make their mark in the Indian market. Owing to the slow economic recovery in Euro zone and the US, companies in the high-end bracket has are expanding in India and China.

From watches and luxury apparels to home linen and handbags, every category is seeing a spurt in activity. Companies such as Raymond Weil, Paul & Sharks and Zara have renewed their commitment to India.

However, lack of brand recognition and fewer high-street retailing avenues could pose a deterrent for global brands in breaking even.

Raymond Weil set up its 100 per cent subsidiary in India besides opening up a mono-brand boutique. The company will be investing about one million Swiss franc in India during the current year.

Apparel major Paul & Shark also opened its first boutique in India 18 months after it signed a joint venture with Reliance Brands.

Spanish fast fashion retailer Zara, a part of the Inditex Group, which has 51:49 per cent joint venture with Tata Group's retail arm Trent, is looking at sourcing apart from expansions. The company, which opened its maiden 1,500 sq metres store in Delhi will be adding two more stores in India – in Mumbai and New Delhi.