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Heritage jewellers Bvlgari is among those looking beyond Mumbai and Delhi to emerging smaller markets within India, through a combination of online (it has an e-concession on the Tata Cliq Luxe website) and physical retail. “We have established a strong presence in nine key cities (with their watches available through specialty stores in cities such as Chandigarh and Ahmedabad), ensuring our luxury offerings reach a wider audience,” Bvlgari CEO Jean-Christophe Babin tells Vogue Business. “We continue to host exclusive physical exhibitions and trunk shows in these cities, creating meaningful connections with influential communities and cultivating relationships with our clientele.” This “phygital” approach is key, says Gaekwar, especially given the limited high-end retail presence in Tier 2 and Tier 3 cities (luxury malls are limited to the main metros). “Major luxury brands are constantly and dedicatedly strategising to tap into these high-net-worth individuals in Tier 2 and Tier 3 cities… these consumers don’t want to be left behind by their metro counterparts,” she says. Gaekwar stresses the importance of pop-ups and easy-to-access after-sales services in these markets.Wheeling Pittsburgh Steel Corp Follansbee Wv Shirt
Another significant opportunity identified in the report is in pre-loved luxury goods. India has a long heritage of reuse, the authors point out, which is being upheld by younger generations. “Vintage jewels, textiles and other precious pieces handed down through generations hold great appeal for zillennials [individuals born roughly between the mid-1990s and early 2000s] who have faith in concepts like sustainability and circularity,” the report states. This shift might come as a surprise, especially since international secondary shopping platforms have struggled in India. (Poshmark launched in the country in 2021, and closed its website just two years later.) Earlier this year, Relove, a platform co-founded by leading tech entrepreneur Kirti Poonia (also co-founder of Camera, an AI fashion photography tool used by industry giants like H&M), also closed its website. “Pre-loved does have potential to be a good business in India, but not a great one. Indians are not keen on buying secondhand clothing,” Poonia says.
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