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Burgundy Brand Collective to expand store presence in India
Mint Mumbai
|December 13, 2023
Burgundy Brand Collective plans to invest ₹50 crore over the next decade to expand its store presence across India, as the world's fifth-largest economy sees a growing demand for luxury goods.
The Collective, known for partnering high-end brands such as Japan's Royce chocolates and Onitsuka Tiger, is looking to build on its current presence of 32 stores across nine cities and partnerships with eight international brands.
The proposed expansion reflects a marked change in India's luxury landscape, Burgundy Brand Collective co-founders Samir Gadhok and Avani Raheja said.
India's rapidly growing luxury goods market is projected to hit $8.5 billion in 2023, a significant increase from 2021, as per Euromonitor International.
This story is from the December 13, 2023 edition of Mint Mumbai.
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