Across a span of decades, the cities of Delhi and Mumbai have embarked on a fervent and competitive quest, striving to attain the coveted recognition as the foremost hub of luxury fashion in India. Notable and illustrious brands like Louis Vuitton, Dior, Chanel, and Hermès embarked on their Indian journey by making Delhi their point of entry, subsequently introducing their secondary establishments within the vibrant landscape of Mumbai. In a parallel narrative, Gucci, Jimmy Choo, and Bottega Veneta chose to channel their initial attention towards Mumbai, mirroring this strategic approach.
In the latest edition of the World’s Wealthiest Cities Report 2023 by migration consultancy Henley & Partners, Mumbai has taken centre stage as India’s premier metropolis of affluence, flaunting an impressive tally of 59,400 high-net-worth individuals (HNWIs). This achievement propels Mumbai to the global echelon of wealth, securing the 21st position and coming tantalisingly close to Dubai, a contender with 68,400 HNWIs. In contrast, Delhi, while still a significant player, occupies the 36th spot on the international scale, enumerating 30,200 HNWIs as of 24th July 2023.
A compelling paradigm shift beckons for international brands aiming to carve their niche in the Indian market. While Delhi and Mumbai have basked in the limelight for an extended period, the spotlight is now cast on the burgeoning cadre of cities clamouring for closer attention. Bengaluru, previously known as Bangalore, emerges as a formidable contender boasting 12,600 HNWIs, with Kolkata closely trailing at 12,100 and Hyderabad following suit with 11,100.
Louis Vuitton Mumbai Project by Orbit Design Studio
Bengaluru has rightly earned its moniker as the Silicon Valley of India, owing to its pivotal role as the headquarters for eminent corporate giants such as Amazon and Microsoft. Yet, its stature is undergoing a transformative evolution, poised for a significant shift with the imminent inauguration of the Mall of Asia, a premium retail haven slated to unveil its offerings next year. This strategic move positions Bengaluru as a burgeoning nucleus of fashion emergence. The burgeoning of this new identity finds resonance in the presence of distinguished marques like Louis Vuitton, Gucci, Coach, and Rolex, all of which have staked their claim within the city’s commercial landscape.
The Collective, a multifaceted retail endeavour launched in 2008 under the aegis of Aditya Birla Fashion and Retail Limited (ABFRL), renowned for its collaborations with international luxury icons such as Kenzo, Moschino, and Polo Ralph Lauren, stands as a testament to Bengaluru’s significance. It identifies Bengaluru as the zenith of its prosperity within the southern realm. Amit Pande, the Brand Head at The Collective and International Brands ABFRL, attributes this triumphant narrative to the city’s vibrant cadre of youthful professionals and their aspirational inclinations. Pande firmly asserts that catering to this dynamic demographic necessitates a spectrum of offerings, ranging from “technologically integrated products, personalized services, to exclusive brand encounters.” He underscores the immense potential embedded within cutting-edge technologies like artificial intelligence, augmented reality, and smart wearables, poised to carve a resolute niche within this burgeoning market.
In resonance with this sentiment, Tahiliani underscores the promising horizons that Bengaluru presents, even in the absence of immediate plans for a storefront. While Tahiliani’s brand recently expanded to Hyderabad and is presently devoted to elevating its flagship emporium in Delhi, he envisages a realm of opportunities within Bengaluru.
Further championing this cause, Tahiliani advocates for luxury purveyors to contemplate establishing at least one brick-and-mortar emporium within a southern metropolis. He underscores the predilection of consumers, particularly during opulent events like weddings and festive revelries, for an immersive in-store shopping experience. A physical presence, he posits, provides the most immersive platform for nascent patrons to steep themselves in the brand’s essence. Against the backdrop of the lingering reverberations of pandemic-induced lockdowns, a discernible trend among Indian luxury aficionados towards local commerce is evident. For brands treading cautiously on the path to permanent establishments, Tahiliani proffers the concept of pop-up stores as a strategic conduit to nurture a burgeoning clientele.
As luxury brands are encouraged to explore broader horizons in India, the recognition of Delhi and Mumbai as the reigning fashion hubs remains unanimous. It’s advisable for brands to establish a presence in both cities, selecting the initial store location based on optimal adjacency and positioning within either metropolis.
Within these cities, two prominent malls each offer an inviting stage for luxury brands. Delhi showcases DLF’s Emporio and Chanakya Malls, while Mumbai boasts Palladium Mall and Jio World Plaza. In Mumbai’s southern region, prime real estate becomes an advantage, attracting brands like Hermès and Christian Louboutin. French retailer Galeries Lafayette is also gearing up to introduce a sizable store accommodating 200 brands in proximity.
(L-R) Rohit Bal Privé, Details from Bespokewala
Delhi, Mumbai
For many fashion retailers, Delhi proves to be the high-performing focal point, even for those initially debuting in Mumbai. Pande reveals that The Collective’s largest market lies in the Delhi National Capital Region (Delhi NCR), encompassing Delhi and its adjoining districts. Ensemble, originating in Mumbai in 1987, is expanding its presence in Delhi, highlighting the city’s allure as more than just a metropolis; it encompasses the affluent Northern belt, prompting lavish spending.
Mumbai, often referred to as the “Maximum City,” resonates with the vibrancy of New York. Its mild temperatures naturally align with resort fashion, while the allure of Bollywood presents a unique asset. Luxury brands engage Indian film stars like Deepika Padukone and Alia Bhatt as brand ambassadors, strengthening their presence. Mumbai-based label Jade, already established in Delhi and Hyderabad, aspires to extend its footprint to Bengaluru and Ahmedabad. Co-founder Monica Shah celebrates Mumbai’s fusion of history and modernism, creating a captivating melting pot catering to diverse tastes.
No matter which cities are chosen, the crux of the matter lies in understanding each location as a unique entity with its own special qualities. It’s a complex process of deciphering the driving forces behind the preferences of the local customers. Ahuja from RBL eloquently presents this as a call to see India not just as a single nation, but as a vast expanse teeming with diverse cultures. Achieving this demands seamlessly blending a wide range of regional and cultural influences, forming the very foundation for crafting a distinctive brand identity. Yet, this effort extends well beyond culture, delving into the intricate facets of accommodating diverse market intricacies, such as varying climates, purchasing abilities, and style preferences.
The wisdom of an all-encompassing approach to engage India’s vast consumer landscape finds resounding support among experts. Gitanjali Saxena, Chief Business Officer at Tata Cliq Luxury, shares insights derived from a mosaic of consumers spanning various markets. She reveals a striking fact: a significant 40 percent of their revenue comes from non-metropolitan areas. This underscores the necessity for luxury brands to bolster their reach through strategic online partnerships. Such initiatives empower brands to craft impactful brand stories, immersive experiences, and improved accessibility.
Amidst India’s vibrant tapestry, those who embrace understanding as their compass find success. They interweave culture, climate, and dreams like artisans crafting a harmonious masterpiece. Luxury brands, akin to skilled creators, sculpt not mere entities, but bespoke reflections of each city’s essence. With each new dawn, a fresh promise arises, unfurling a journey that reveals the intricate layers composing India’s untold tales. In this multifaceted realm, triumph is not only conquest but a dance with intricate melodies. It’s a crafting of connections that crescendo in harmony with the pulse of luxury, resonating with every local heart.
Words by Esha Aphale.
Image courtesy The Architects Diary.
