New Delhi: Luxury retailers and brands are expecting a double-digit uptick in sales this festive season over last year, backed by a longer wedding season and the launch of more India-specific collections. Retailers said the GST rate cuts should also help boost sales with more discretionary money in hands of customers.
The early onset of the festive season is expected to aid consumption, said Pushpa Bector, senior executive director, and business head of DLF Retail. “Luxury is seeing a bullish season ahead with a long wedding season. With more discretionary money in consumer’s hands, all our tenants are very bullish for the upcoming wedding and festive season,” she added.
DLF is expecting a double-digit growth for luxury brands located in its malls this year over last year, said Saurabh Barara, VP and business head for DLF Luxury Malls. “Globally, some of these brands are looking at a 6.5-8% uptick in sales. Brands such as Gucci, Louis Vuitton, Cartier and Bvlgari are focusing more on the Indian wedding market. It’s the biggest opportunity this year, with the wedding season seeing more auspicious dates,” he added.
For the first time, luxury porcelain brand Lladro has collaborated with an Indian artist-master Indian sculptor Arun Yogiraj, known for sculpting the idol of Lord Ram at the Ram temple in Ayodhya for its limited edition (499 units globally) high porcelain sculpture of Lord Ram. This year Lladro has also introduced a sculpture of Lord Ganesha-Eternal Light, which will premiere in India first as a Diwali 2025 special edition and later open to other markets globally.
Franck Muller is expecting a growth of around 11% compared to last year, said India director Sanjay Mishra. “Recent GST reforms have created a favourable environment for growth and supported the market, adding to our positive outlook,” said Mishra. “We are launching exclusive collection and limited edition pieces crafted specially for Indian tastes, drawing inspiration from traditional motifs, intricate designs and honouring religion,” he said.
Breitling is also gearing up for an October 1 launch, said Pradeep Bhanot, MD, Breitling India. Swiss watch exports to India rose to 128.3 million Swiss francs between January and June this year, up 12.7% over 2024, as per data released by the Federation of the Swiss Watch Industry.
