luxury retail a presentation
TRANSCRIPT
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Amit
AnkitAnjusha
Bushra
Rati
Vickey
Retail Management
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LUXURY RETAIL
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Luxury
Related to -
Status,
Ego and Psychogenic needs; (mental needs)
it is not necessary for survival
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LUXURY
Defining Luxury
The emotionalism of luxury
Purchase of luxury items gives the buyer an immense amount of
joy which surpasses the economic value of the product.
Luxury brands live in peoples hearts & minds
Luxury brands have range
Can be teamed with many products
Luxury brands have permanence
Dont go out of style/are classic
Characteristics
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Luxury Goods
Associated with-
high quality,
craftsmanship,
uniqueness,
creativity,
exclusivity andinnovation
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What Consumer Get
Psychological Benefits
esteem,
prestige sense of a high status
that reminds them and others that they belong to
an exclusive group who can afford theseexpensive goods.
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The overall sales of luxury goods in the year2009 is expected to be more than US$150 billionand Asia contributes 10% to it.
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The concept of luxury is now not confined toonly to Europe and US, the Asian subcontinent
contributes major to it, with India and China asthe newly emerging markets.
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A trip to the mall can mean stocking up onthousands of dollars worth of designergoodies before eating a three-course meal
at one of its fine dining establishments
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Fine Living Top 10: Luxury Malls
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10 The Grand Canal
Shoppe's offer visitorsworld-class diningand elegant shoppingin a unique, inspiredsurrounding.
The Grand CanalShoppe's areguaranteed a trulyEuropean shoppingexperience.
The Grand Canal Shoppe's
Las Vegas, USA
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With a focus on big-name fashion housessuch as Alexander
McQueen, Bulgariand Chanel --complemented byweekly fashion shows
Galleries Lafayette
Paris, France
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8 Blue water in the British
county of Kent combineshigh-end internationaldesigner outlets
(such as A/X Exchange,Lacoste and Storm)
Theresplenty else to keepshoppers entertained too,
such as a multiplex cinema,a luxurious fitness centerand an extensive food court
Blue water
Kent, England
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7 Ranked the No. 1
shopping center in theUnited States, BalHarbour Shops in Miami.
Stores with an outlet inthe complex include-
Tiffany & Co.,Vilebrequin, Yves SaintLaurent, Jimmy Choo,
Just Cavalli, HarryWinston, Fendi, EmilioPucci, Escada, Bulgari,and Saks Fifth Avenue
Bal Harbour Shops
Miami, USA
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6 Having all the usual
designer store suspects --Harvey Nichols, D&G,Gianfranco Ferre, and
Ermenegildo Zegna, The Landmark boasts the
113-room LandmarkMandarin Oriental Hotel
as well as the chicOriental Spa.
The Landmark
Hong Kong, China
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5 Armed with their Black
Amex, shoppers here areable to flit in and out of100 designer stores such
as Tommy Hilfiger, YvesRocher and Diesel.
The three-story wonder isbuilt underground nearRed Square and is, quite
simply, one of thegrandest malls in theworld.
Okhotny Ryad Shopping Center
Moscow, Russia
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The bustling buildingshere combine luxuryshopping and fine
dining with office andresidential space
With outlets includingCole Haan, Dean &
Deluca and Sisley, themall also features anEquinox Fitness Club.
The Shops At Columbus Circle
New York, USA
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3 The Walk also houses
outlets by designers suchas Louis Vuitton, CalvinKlein), Emporio Armani,
Mulberry, and Links ofLondon.
The mall also providesresidents and visitors tothe capital with a
complete shopping andleisure experience.
The Walk
Edinburgh, Scotland
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2 With the DFL Group
finishing construction atthe end of 2007, TheEmporio shopping mall
in New Delhi Consist of 90 high-end
Indian and internationalstores, such as Kimaya,
Ensemble, Ashish N Soni,Rajesh Pratap Singh, andAbraham & Thakore
The Emporio
New Delhi, India
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1 Packed with designer boutiques,
including Harvey Nichols,Debenhams, Bois & Chiffon,Reiss, Missoni, and Marc Jacobs
The mall also encapsulates
several world-class restaurantsand bars, including Lebanesecuisine at Karam, brasserie-stylefood at St Maxims, seafood atSalmontini, international fare atSezzam, and fondue at Aprs
Mall Of The Emirates
Dubai
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LUXURY
The Luxury retailing in india
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Reasons for emergence of luxuryretail in India.
Hike in the salary .
High Standard of living .
Luxury becoming a status symbol. stylish appearance
increased durability
better performance & advanced features
Luxury in India has become more access ible.
Bol lywood is an inf luencer
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LUXURY
Luxury Products & Services
Cars:
Jaguar, Mercedes Benz, Lamborghini, Rolls Royce, Bentley, Ferrari, Bugatti
Couture: VersaceIndian couture designers: Rohit Bal, Tarun Tahiliani May not include prt designs
Hotels & resortsAmar Vilas (Oberoi), Four Seasons
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LUXURY
Luxury Products & Services
Accessories
Footwear: Jimmy Choo
Handbags: Louis Vuitton, Aigner, Leiber, Hermes, Prada
Small leather goods: Dunhill
Watches: Piaget, Tag Heur
Eyewear: Armani, D&G, Chanel
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LUXURY
Luxury Products & Services
Perfumes: Channel
Jewellery & Gems: Cartier, Tiffany
Writing instruments: Mont Blanc
Luggage: Louis Vuitton
Liquor: Henessy (vodka), Blue Label, rare wines Art
Not Luxury: Mango
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LUXURY
The Sachdev GroupPriya Chatwal & Charu Sachdev
Brands: Lanvin, Alberta Ferretti, Jean-Paul Gaultier, Moschino,
Stella McCartney
Promoters of Luxury in India
Genesis Colors
Sanjay Kapoor of Satya Paul fameBrands: Aigner, Canali, Kenzo, Paul Smith, Just Cavalli
Murjani Group
Gucci, Jimmy Choo, Calvin Klein, Bottega Veneta
Brandhouse Retail (S.Kumar Group)Escada, Dunhill
JVs in the pipeline
DLF with Armani
Hermes with Neelam Khanna (PRS Oberoi clan)
Reliance Retail
TSG International Marketing Pvt Ltd
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LUXURY
Emporio
The first Indian luxury destination:
Officially inaugurated: Sunday, 30th Aug
Developer: DLF
130 luxury brands
Apparel: Dolce & Gabana, Canali, Louis Vuitton, Chistian Dior
Jewellery: Cartier, Harry Winston,
Leather Goods: Tods
Men: Paul Smith, Armani
Watches: Piaget, Chopard, Jaegar
Indian designers: Rohit Bal, Tarun Tahiliani, JJ Valaya
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LUXURY
The story in India
Luxury is not new to India but the modern form is yet to evolve
Branding
Lasting customers relationsSignature look
Virgin market
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LUXURY
The story in India
Ermenegildo ZegnaFirst store opened at Crossroads in 1999. Closed in 2005
A 3000sqft store opened at Taj, Mumbai in 2007
Third store to come up at Emporio
Jimmy Choo
Launched India store through Murjani Group in Sep08
Located at Nariman Point, Mumbai
Worn by Aishwarya Rai, Preity Zinta
Internationally launching sunglasses, fragrances & handbags
LVs association goes back to the Maharajas for luggage
First store opened in 2003 at Oberoi Hotel, New Delhi
Second store opened in Mumbai in 2004
Now opened at Emporio
Louis Vuitton
uxury ar e pen
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uxury ar e penAllocation
http://www.omretail.com/india/images/MarketSpend-Luxury-Retail-India.PNG -
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LUXURY
Limitations of luxury in India
Lack of appropriate space
Adjacencies importantnightmare McDonalds
Started with use of hotel space
Makeshift space in malls/markets
Emporioperhaps the first luxury mall in India
Expensive real estate
Lack of trained manpower
Specialized programs in Institutes
Lack of Indian products & brands
FDI restrictions
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LUXURY
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LUXURY
Scope for Indian brands
Can you think of an Indian luxury brand?
Acquiring Western brands: Tata acquires Jaguar from Ford in the UK
Oberoi hotels: Rajvilas, Udaivislas, Amarvilas
Indias strengths: excellence in craftsmanship, heritage, business potential
Some suggested areas: hotels & hospitality, spas, jewellery, meditation
(Mahesh Yogi), art, Indian fashion
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Challenges to overcome
Limited scope
-Though Indian has become brandconscious and are ready to invest inluxury goods yet the scope ofinternational luxury retail is limited, as
there is still a percentage of people whodo not see luxury retail as a necessity.
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Lack of retail space
-Except for five star hotels Indian retailspace has still failed to match internationalstandards. For an international brand tofind a large retail store space is still adream, as apart from high rentals,
shortage of retail space still exists.
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Lack of High Fashion Street
-There is no street that is coming up as ahigh fashion street. Like New Yorkss FifthAvenue and Londons fashion streets,India has a long way to go before it cancompete in both space and name, to call its
retailing spaces as fashion streets.
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Providing services
-When consumer is ready to spent hugeamount of money in buying a luxuryproduct he would not like to compromiseon the quality and services provided bythe brand. Being a foreign brand satisfying
the consumer becomes little difficult.
LUXURY
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LUXURY
Thank You