By Kritika Arora
Premium fashion and lifestyle brands have an exponential capacity to grow in India, according to Abhishek Bajpai, CEO of Apparel Group India. Bajpai said that the group is looking at expanding its portfolio of international brands to metro and other tier cities in India.
Apparel Group recently launched US-based Victoria’s Secret first physical store in India in Mumbai’s Phoenix Palladium mall and has a portfolio of several other international brands, too, like Aldo, Charles & Keith under the franchisee agreement.
“Our focus is on premium brands where the average ticket size ranges between Rs 2,000 and Rs 15,000. We can grow the business a lot more exponentially here than we can in luxury brands where the ticket size is a lot higher,” said Bajpai.
While the group has plans to launch one more offline store of Victoria’s Secret in Delhi before the end of this year, it also opened Japan-based Daiso in Chandigarh, which is a value accessory home department store, along with Dubai’s R&B fashion brand.
“We have launched three brands and we are going to focus on them for at least this year,” said Bajpai.
With Victoria’s Secret, the group is upbeat for the premium lingerie space in India.
There is nobody at this price point in the lingerie space in India with the value that VS brings in. “We would focus on expanding Victoria’s Secret in metro cities first and then would look at other tier cities,” Bajpai said.
However, it is not looking at launching any other lingerie brand in India as yet.
With the growing popularity of premium brands in the country, while it is said that there are space constraints with mall operators in metro cities to accommodate upcoming international brands in India, Bajpai said that while there might be space constraints with land owners in the near term , they will figure out the solution in the medium-term.
“There is always going to be space for good brands, Sooner or later. Maybe they don’t have the space now but when the leases end, we are getting positive feedback from every landowner,” Bajpai said.
However, he mentioned that lot of new malls are coming up, and the group is looking to expand its brands in cities like Vadodara, Indore, Kochi, Trivandrum, Amritsar and Ludhiana where demand for brands is only developing.
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