- Meenakshi Kumar |
Brands chasing high-spending customers are opening stores in Bangalore by the dozen. Retailers and realtors are opening new spaces across the metro. For example, Swedish retail giant Ikea will soon launch a store in the city, bringing its minimalist and affordable products much closer to the city’s residents. The city’s residents, especially the millions working for the outsourcing industry, are aware of the latest fashion trends. Arvind Brands, which has Flying Machine and Ruff n Tuff to iconic labels like Lee, Wrangler and Gap in its portfolio, sees Bangalore as central to its expansion plans, both in terms of new brand launches and expanding its retail footprint. Arvind will expand its footprint across the board from budget brands to premium offerings such as Gap. Marquee labels have shrunk the time to reach consumers because of new stores and malls.
Real estate and retail space isn’t as prohibitive as Mumbai or Delhi. At the same time, consumers are acutely aware of what they buy and eat. People are willing to buy entry-level denim and splurge on premium labels too. Brands such as Springfield, Toys R Us and Xiaomi have opened outlets in Bangalore in the past 12 months to reel in consumers.