Shopaholics in Kolkata have reason to cheer. Buying your favourite Louis Vuitton bag or feasting your eyes on the Jimmy Choo shoes might soon be possible in the city.
Once dubbed a ‘conservative market’ — that does not appeal to super-premium brands — Kolkata is fast emerging as a place that luxury retailers are eyeing.
“Over the last few months, a number of luxury brands have opened shop in Kolkata and some more are eyeing a possible entry,” Mayank Saksena, Managing Director at real estate consultancy firm Jones Lang LaSalle India, said.
More than 10 luxury brands have already opened shop here in the city. Forum Courtyard, a mall, already has brands such as Vero Moda (ladies wear), Promod (ladies wear), Mango (apparel), Sisley (apparel), Charles & Keith (shoe-maker) and Aldo (shoe-maker).
This apart, South City mall boasts of US Polo Association (sports wear) and Timberland (shoe-maker). Designer brands Tommy Hilfiger, Calvin Klein and Raghavendra Rathore already have shops in high-street formats.
New Entrants
Sanjiv Goenka’s upcoming mall is expected to house Louis Vuitton (bags), Burberry (apparels), Billabong (surfwear and accessories), Nautica (apparels), Gucci (shoes and accessories), Jimmy Choo (shoes) and another outlet of US Polo Association. Goenka, however, did not confirm the names he was in discussion with.
“Billabong and Nautica outlets will be there at the upcoming mall by RP-Sanjiv Goenka group. This apart, UP Polo will have another outlet at the mall,” Alok Dubey, Vice-President, Arvind Lifestyle Brands, told Business Line . Arvind markets the brands Nautica, Billabong and US Polo Association in India.
Rahul Saraf’s Forum Projects is already in talks with Guess accessories. “Guess is likely to have its first store in the city in another two months,” Pragna Johar, Assistant Vice-President, Retail Division, Forum Projects, said.
According to Johar, high disposable incomes in Kolkata and in parts of the eastern region make the entry of luxury brands a viable option.
Interestingly, despite the conservative tag, existing luxury brand players have seen substantial growth. Brands such as Mango, Promod, Aldo and Charles & Keith have registered a 40-50 per cent year-on-year growth in the region.
US Polo Association, having witnessed a 10-15 per cent year-on-year growth in its lone South City store, was prompted to explore new outlets here. Two new outlets opened between October and December 2012.