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Luxury companies pin their hopes on winter and wedding shopping

Livemint

Livemint · 9m ago

Luxury companies pin their hopes on winter and wedding shopping

Early trends suggest a revival of sales momentum in the second half of the fiscal year at luxury hotspots in India. The ongoing festive season, including weddings, is expected to make up for slow sales earlier this year. In Delhi, luxury brands like Aquazzura and Brunello Cucinelli are experiencing brisk sales despite high prices. South India is also witnessing strong sales in the luxury sector, particularly in accessories, clothing, watches, and home categories. Mumbai's Jio World Plaza has seen new store openings, while French luxury brand Cartier is experiencing increased demand for watches and jewellery.

Related News

Mark Zuckerberg got major timepiece envy over Anant Ambani's Richard Mille watch

Business Insider

Business Insider · 1y ago

Mark Zuckerberg got major timepiece envy over Anant Ambani's Richard Mille watch

Facebook CEO Mark Zuckerberg expressed his newfound interest in watches after admiring Reliance Industries' Anant Ambani's luxury timepiece at a pre-wedding party. The incident was captured in a video that went viral on social media. Zuckerberg and his wife, Priscilla Chan, were attending the Ambani family's event as guests. The watch that caught their attention was made by Richard Mille. Other notable guests at the party included Microsoft founder Bill Gates and Ivanka Trump. Zuckerberg's comment about the watch has sparked interest in his potential interest in luxury watches.

Fancy founder returns with $1,000-per-month luxury shopping startup, Long Story Short

TechCrunch · 1y ago

Fancy founder returns with $1,000-per-month luxury shopping startup, Long Story Short

Long Story Short is a luxury e-commerce startup founded by Joseph Einhorn, known for his previous venture The Fancy. The platform operates as a private shopping club that requires a $1,000 monthly fee to access its curated collection of 50,000 luxury products. The service offers privacy and security to high-net-worth individuals, managing transactions on their behalf and keeping their identity anonymous to sellers. By eliminating marketplace fees and establishing direct relationships with vendors, LSS aims to reduce the cost of luxury items by 20% to 40%. The startup has already attracted customers ahead of its launch.

Amazon rolls out passwordless sign-ins for users on iOS and web

Economic Times

Economic Times · 1y ago

Amazon rolls out passwordless sign-ins for users on iOS and web

Amazon is introducing passkey support for browsers and iOS mobile shopping apps, enabling customers to access their accounts using passwordless sign-in. Customers can set up passkeys in their Amazon settings, using their face, fingerprint, or device PIN to sign in. Passkeys are designed to be more secure and user-friendly compared to traditional passwords. They cannot be written down or easily guessed, making them a more secure option and less susceptible to phishing attacks. Passkey support is gradually rolling out for the iOS Amazon Shopping app and will soon be available for Android.

Wed-in-India: Why are Indian couples going swadeshi?

Economic Times

Economic Times · 9d ago

Wed-in-India: Why are Indian couples going swadeshi?

In 2023, there's a growing trend of Indian couples choosing local destinations for weddings, influenced by PM Modi's 'Wed in India' campaign. Affluent Indians and middle-class couples increasingly prefer domestic venues due to geopolitical issues and an increase in luxury hotels. Locations like Rajasthan, Goa, and Kerala are witnessing high demand. The wedding industry is also embracing eco-friendly practices, with boutique hotels offering sustainable wedding options. This shift highlights a maturing Indian wedding destination market.

Luxury brands getting set to open new doors, to be ready by festive quarter

Livemint

Livemint · 1y ago

Luxury brands getting set to open new doors, to be ready by festive quarter

Several luxury brands are opening new stores in India ahead of the festive season, indicating a potential boost for the industry after a slowdown due to extreme summer heat and general elections. Brands such as Aquazzura, Diptyque, Baccarat, and Golden Goose are set to launch stores in Delhi, Mumbai, and Bengaluru. Luxury shopping centres like DLF Emporio and The Chanakya are also planning to add new brands and expand their offerings. The rise in luxury consumption in India is attributed to the country's growing affluent population and rising disposable incomes.

Walmart experiments with AI to enhance customers' shopping experiences

Economic Times

Economic Times · 1y ago

Walmart experiments with AI to enhance customers' shopping experiences

Walmart is exploring the use of artificial intelligence (AI) to improve customer shopping experiences. The company aims to leverage AI technologies to develop smarter customer assistance tools and enhance the overall shopping journey. By analyzing customers' shopping patterns and preferences, Walmart hopes to personalize the shopping experience and provide tailored product recommendations. This move showcases the retailer's commitment to embracing technological advancements to stay competitive in the market.

Zomato CEO Deepinder Goyal marries Mexican entrepreneur Grecia Munoz

Money Control

Money Control · 1y ago

Zomato CEO Deepinder Goyal marries Mexican entrepreneur Grecia Munoz

Zomato CEO Deepinder Goyal has recently married Grecia Munoz, a Mexico-born entrepreneur and former model. Munoz is currently working on her own startup focused on luxury consumer products. This is Goyal's second marriage, and the couple reportedly returned from their honeymoon in February. The news of their wedding was revealed through social media posts and circulated online. Goyal is the founder and CEO of Zomato, a popular food delivery platform operating in over 1,000 cities in India. Recently, Zomato faced criticism for its "pure veg" delivery fleet, which was later dropped due to safety concerns for delivery executives.

LVMH doesn’t have the luxury of pulling back from China

Livemint

Livemint · 1y ago

LVMH doesn’t have the luxury of pulling back from China

Bernard Arnault, the CEO of luxury conglomerate LVMH, remains committed to investing in China despite the country's economic slowdown and geopolitical tensions. China has been a key market for LVMH, accounting for around 20% of its global sales. While other firms have been reducing their exposure to China, Arnault believes in the potential of the Chinese market and its growing middle class. LVMH has made significant investments in China, including renovating stores and planning a shopping and entertainment complex on Hainan Island. Despite the challenges, Arnault sees China as a key market for the luxury industry's future growth.

Bvlgari, Chanel, Sabyasachi — why India’s rich now shop luxury from home

Economic Times

Economic Times · 16d ago

Bvlgari, Chanel, Sabyasachi — why India’s rich now shop luxury from home

India’s affluent are increasingly shopping luxury items online, shifting the traditional perception of luxury being solely in-store. With brands like Bvlgari, Rado, Chanel, and Sabyasachi embracing e-commerce, a range of products from watches to beauty items are now available digitally. This shift caters to high-spending consumers across metro and non-metro cities, driven by limited physical luxury storefront availability. Online platforms like Tata CLiQ, Nykaa, and Myntra are central to this digital retail evolution in India.

Wealthy Indians tap into bathroom luxury with $18,500 Alexa-powered toilets

VCCircle

VCCircle · 7m ago

Wealthy Indians tap into bathroom luxury with $18,500 Alexa-powered toilets

Wealthy Indians are splurging on luxury bathrooms, featuring $18,500 Alexa-powered toilets, to emulate futuristic, hygienic experiences seen abroad, particularly in Japan. Companies like Kohler, Toto, and Hansgrohe are capitalizing on this trend, expanding their presence in India with experience centers and strategic partnerships, targeting the increasing number of millionaires. Despite economic disparities, luxury home sales soared, underscoring a rising trend towards home pride and comfort among affluent households in India.

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