- Sujata Sachdeva |
So far EMI offers were mostly applied to electronic or high-end goods, but clothing brands never ventured into this space. However, premium apparel brand, Armani Jeans has introduced ‘Pay in Parts’ scheme to woo customers. The label from Giorgio Armani is offering EMI an option in India for customers who can pay in three or six installments with their credit cards.
The offer is valid across all products under the Armani Jeans portfolio including denims, shirts and bags. The customers can pay in part for shirts in the range of Rs 10,500 and Rs 24,000, denims from Rs 11,000 to Rs 21,000 and bags in the range of Rs 10,500 to 18,000. While the company also has stores for its other fashion brands -- Giorgio Armani and Emporio Armani but the scheme has been launched only for Armani Jeans.
Despite several studies indicating high prospects of luxury segment in India and several luxury labels making a beeline for the country, domestic partners of foreign luxury labels have seen their net profit margins decline in the fiscal 2013-14. As result, luxe brands are also forced to start offering discounts earlier than the usual.