MUMBAI: When people think about luxury brands, they associate them with huge brick-and-mortar stores. But players in this space are challenging that conventional norm – from global brands Bvlgari, Chanel, and Rado to homegrown luxury label Sabyasachi, companies are expanding online in India. Not all high-end labels are selling their entire portfolio online – couture, for instance, is a category that is very experiential, and the buying experience is best delivered within a physical space, but segments such as bags, jewellery, watches, belts, and beauty products are moving online.India is a big market, and the limited supply of luxury real estate makes it difficult for brands to reach more consumers, while the share of high spenders is growing – thanks to billion-dollar startups minting rich entrepreneurs and family businesses, many of which are regional. There is wealth sitting in smaller cities as well, and besides, disposable incomes are growing. E-commerce platforms such as Tata Cliq, Nykaa, Myntra, Tira, and Ajio have a separate luxe segment.
“In India, a lot of people have money; there’s a very different demographic, but everybody doesn’t look moneyed… the comfort of shopping in your home without judgement or scrutiny is the most important thing,” Sabyasachi Mukherjee, founder and creative director at Sabyasachi Calcutta, which is launching its digital jewellery boutique on Tata Cliq Luxury later this month, told TOI. Mukherjee said that the brand is looking to tap into a whole set of new consumers through the online launch, a first for the brand’s jewellery selection in India. Last year, Italian luxury brand Bvlgari went online in India by setting up a digital boutique on Tata Cliq Luxury.Myntra, which hosts luxury brands such as Giorgio Armani, Jimmy Choo, and Prada (largely perfumes) on its platform, said that the selection on Myntra Luxe has grown by 70% year-on-year in 2024, with the segment witnessing a multi-fold increase in demand.. Reliance Retail has made labels such as Burberry, Versace, and Balenciaga accessible online in India.
