The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The retail giants are slated to launch their annual autumn promotions in India on Oct. 3, with overall sales predicted to exceed $9 billion, Nikkei Asia reports.
Walmart-owned Flipkart and Amazon’s Indian business each have a share of the local e-commerce market exceeding 30 percent; both companies have changed their schedules to launch promotions earlier, in an attempt to beat out the rival firm. India’s Shradh festival season is expected to be a lucrative one, seeing as the country’s Covid-19 cases are falling and social distancing measures have eased.
According to consultancy RedSeer, sales could exceed $9 billion over the festive season — up 23 percent from $7.4 billion last year. The firm expects mobile phones, electronics and fashion to be the top-performing categories.
Learn more:
How to Plug Into India’s Dynamic E-Commerce Market
During lockdown Indian e-commerce platforms attracted a bonanza of international investment from the likes of Facebook and a fund backed by LVMH. What can fashion brands do now to tap into this complicated but colossal $43 billion opportunity?
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.
Spurred by rapid growth in the pure luxury market, global brands operating in lower-priced segments like contemporary fashion are entering the country or accelerating expansion plans.
This week’s round-up of global markets fashion business news also features India’s textile industry, Chinese beauty major Yatsen and Ghana’s newest garment factory.
Luxury fashion retailers in the oil-rich African nation keep a low profile to provide a discreet shopping environment for consumers and avoid flaunting the elite nature of their own business.