American luxury goods retailer, Saks Fifth Avenue, which tied up with Aditya Birla Fashion Retail in February to open its outlets in India, is likely to launch its first store in New Delhi’s Aerocity as soon as December this year. The entry of the American multi-brand retailer in association with the Aditya Birla Fashion Retail will help bolster the nascent luxury retail segment in the country.
Worldmark, where it is situated, is a 1.5 million sq ft Grade A retail and commercial office space within the upscale Aerocity neighbourhood, close to the international airport. The second Saks India outpost is likely to be located in the new capitalist hub of Mumbai, the Bandra Kurla Complex.
Saks will be attempting to tap the rich with family wealth of over Rs25 crore or annual income in the range of Rs 3-4 crore.
The retail brand will target India’s luxury goods market led by the National Capital Region, Mumbai and Bengaluru, which right has access to only single-brand luxury, like Gucci or Armani.
Saks would be the first multi-brand outlet to enter India. It would be retailing goods across segments such as cosmetics, apparel and accessories. Among the brands, customers can buy Gucci, Louis Vuitton, Ralph Lauren, and several brands with no presence in India.
Copyright © 2009 - 2024 Franchise India Holdings Ltd