LUXURY REBOOTS, RECONNECTS

BRANDS UP THEIR DIGITAL GAME TO WOO MILLENNIALS JUST AS SUSTAINABILITY AND REVENGE SPENDING TAKE CENTRE-STAGE IN LUXE CONSUMPTION.

- SMITA TRIPATHI

A VISIT TO DELHI’S EMPORIO MALL, which houses some of the biggest global luxury brands such as Louis Vuitton, Dior, and Gucci, this rainy afternoon in the middle of July is telling. All stores have restricted the number of customers to 10 or 12. You have to wait outside if the sales assistants are busy. Louis Vuitton has a 45-minute waiting time. At Dior, the security guard reminds impatient shoppers that “all assistants are busy” (even after an hour of waiting). At Gucci one has to scan a barcode and get a token (I got 36).

Things are, however, different on the second floor of the mall where Indian couture houses such as Rohit Bal, Anita Dongre, Ashima Leena, Gaurav Gupta etc, are located. There are hardly any customers. Since these primarily cater to the Indian wedding market, which has been a Covid casualty, sales are down.

So, is all well with the Indian luxury market? “It’s a mixed bag,” says Abhay Gupta, founder and CEO of Luxury Connect, a brand management firm for such niche companies. “While some brands are doing well, some have shut shop,” he adds. In March, Fendi closed its only store in India (at the DLF Emporio). The YSL and Brunello Cucinelli stores at DLF Chanakya haven’t reopened post the second lockdown. During the pandemic, Bang & Olufsen exited India. On the other hand, there are others like fashion brands Alexander McQueen, Billionaire, Philipp Plein and beauty brand La Mer, which are expected to enter India next year. In fact, Alexander McQueen has already finalised the space in Chanakya, and Versace at Emporio.