There is an enormous opportunity for luxury retailers to start over with a fresh, bold, innovative approach - to shed the past waste and inefficiencies that brought many a hallowed brand into the dustbin of history.
While weddings have and will continue to be the strongest driver of jewellery sales in the country, ORRA has now taken an aggressive stance towards giving a larger share to bridal diamond jewellery within this segment.
The business of luxury resale is booming across geographies. Some analysts claim its the low price point that excites the young Luxury fashion consumers while fashion insiders say its the lust for a markdown that makes it exciting to shop.
Traditionally Infrastructure hassles and lack of clear guidelines along with high import duties & counterfeit market are few substantial reasons to prevent luxury retailers from directly investing in Indian markets.
Marketing of luxury products especially online continues to be a challenge in India. Consumers are comfortable shopping for regular consumption brands, they dont want to risk experimenting with expensive products and categories online.