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Foreign fashion brands set to dazzle India | The Indian Express

Related. With a slowdown in the US and European economies,foreign brands are now setting their eyes on the lucrative Indian market. With an investment of over $90 million,Paris-based luxury goods group Louis Vuitton Moet Hennessy (LVMH) is bringing three premium brands in India,including beauty retail chain Sephora,Singapore fashion company Sincere and Hong Kong-listed Emperor Watch and Jewellery. DLF Retail and Reliance Brands (a unit of Reliance Retail) are said to be in talks with LVMH-owned beauty retailer Sephora. LVMH is already on an expansion spree in India and has launched a $650 million private equity fund called L Capital Asia dedicated to markets that would primarily deal in consumer brands,lifestyle concepts,beauty and wellness. According to experts,luxury brands are finding an increasing presence in major cities such as Delhi,Mumbai and Bangalore and are seeing huge potential in cities such as Pune,Chandigarh,Kolkata,Hyderabad due to high disposable incomes. Sephora has over 250 brands under its umbrella,including Dior,Aquolina,Diesel,Clarins,D&G,Evian and Canali. According to industry sources,the retail giant is planning to open around 50 stores of Sephora in the next couple of years. Ravi Thakran,managing partner of L Capital Asia,told FE,Considering the huge market in India,LVMH would be bringing its premium brands in the market which includes Sephora,Emperor and Sincere. The company has plans to enter into partnership deals with some of the leading retail companies in India. The fund would also look at portfolio companies which have high growth potential in the short to medium term,said Thakran. Apart from this,Swedish fashion retailer Hennes & Mauritz plans to foray into the Indian market and is in talks with DLF brands among others. American high street casual wear brand Brooks Brothers and Italian luxury apparel player Emilo Pucci are also likely to start their operations in India soon. After making its first investment in India by picking up a 25.5% stake in Genesis Luxury Fashion,LVMH is also investing $25 million in its brand Charles and Keith (C&K) in India by opening 40-50 new stores. The company is strengthening its presence in India and will spend over $25 million in expanding C&K in Chennai,Kolkata,Bengaluru,Lucknow and Ludhiana.
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