01 August 2024, Mumbai
A positive outlook for retail consumption in the second half of 2024 has led several top global retail brands to proceed with their planned India debuts this year. The first half of the year saw muted shopping activity due to factors such as heatwaves, elections, and fewer wedding days. However, retail experts and companies anticipate resurgence in consumption during the festive and wedding seasons, with international brands eager to capitalize on this momentum.
Notable global apparel brands and retailers, including the Spain-based Bershka, US-based Foot Locker, France-based Galeries Lafayette, China-based Shein and Britian-basedAsosplan to foray into the Indian market between October and November.
Foot Locker plans to open its first Indian store in Delhi in October in partnership with Metro Brands while Galeries Lafayette has collaborated with Aditya Birla Fashion & Retail to open a flagship 90,000-sq-ft store in Fort, Mumbai, followed by a 65,000-sq-f store at DLF Emporio Mall in Delhi. Shein and Asos plan to open stores at the Jio World Centre in Bandra-Kurla Complex (BKC) in collaboration with Reliance Retail.
Kavindra Mishra, MD & CEO, Shoppers Stop, notes, the 50-odd auspicious wedding days in the latter half of the year, alongside the festive season, are expected to drive significant shopping activity in the country. Shoppers Stop recently introduced several international fragrance and beauty brands and plans to continue launching new products. Similarly, DevarajanIyer, Executive Director & CEO, Lifestyle International, affirms strong sales in the October-December quarter due to the festive season and weddings.
