Mostly due to high post-coronavirus consumption, around two dozen global brands like Dunhill, Roberto Cavalli, Lavazza and Armani Caffe, and Foot Locker are soon expected to enter Indian markets, The Economic Times (ET) reported on Friday.
According to the report, before the pandemic 12 to 15 brands used to enter India annually. In 2020, just one global brand set up its shops in India. In 2021 and 2022, three and 11 brands entered India respectively.
In the last few months, McLaren, Valentino, and Balenciaga, among several others, have debuted in India. Tim Hortons, Popeyes, Pottery Barn, and Pret A Manager are some others on the list.
Apart from this, several Indian companies are also bringing global brands to the country.
Aditya Birla Fashion and Retail Ltd (ABFRL) has recently formed a partnership with Galeries Lafayette to open luxury departmental stores and a dedicated e-commerce platform in India. Reliance Retail is set to bring Chinese fashion company Shein back into the country.
H&M has also launched its home like in some of the flagship stores across the country.
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Nitin Chhabra, chief executive officer (CEO) of Ace Turtle was quoted in the ET report as saying, "This is the time to be in India and this next decade, from a consumer tech perspective, is going to be the best we might have seen in the history of retail."
Ace Turtle holds licences to sell fashion and lifestyle brands such as Lee, Wrangler, Toys 'R' Us and Babies 'R' Us in India. It has recently partnered with California lifestyle apparel brand Dockers to enter India.