Tom Ford Women, Versace Collection to open store in Delhi

For lovers of fashion who wished to buy global luxury brands at a nearby mall, there is good news. New York-based fashion brand Tom Ford Women and Versace Collection will now be available at malls and shopping centres. The two brands will set up brick-and-mortar stores by the end of 2016. The brands will be housed at DLF’s upcoming luxury mall at Delhi’s Chanakyapuri.

Tom Ford product is priced above Rs 3,000 while Versace will be priced between Rs 2,000-Rs 8,000. Tom Ford Men is already available in India. Tom Ford Women designs, manufactures and retails apparels, accessories, fragrances, sunglasses, shoes and cosmetics. In India, Tom Ford Women will be marketed and franchised by DS Luxury Retail Ltd, which is the luxury retail arm of FMCG major DS Group. It also has the franchise rights Tom Ford Men. Tom Ford Women was launched by fashion designer Tom Ford three years ago.

Italian luxury brand Versace is launching its prêt brand – Versace Collection. It will retail products for both men and women. Versace is already present in India through its ultra luxurious brand. The brand produces upmarket Italian-made ready-to-wear and leather accessories. The Versace Collection will be marketed and sold through OSL Luxury Collection. Plans are on to open a store each in Mumbai and Bengaluru.

Both the brands see immense potential in the Indian market because of the increasing demand for luxury and premium brands. People are ready to spend money on high-end products and are aware of brands because of the global exposure.

The luxury market in India has been growing at a CAGR of 25 per cent over the last couple of years. Currently, it is estimated at 14.7 billion dollar and would soon cross 18.3 billion dollar.