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10/07/27

 

Indian Clothing Retail Trade Offers Big Opportunities for Western Fashion Brands

India is currently - after China - worldwide the most attractive growing economy for foreign investments. According to the governmental budget the GNP will grow in 2010/11 in comparison to the period before, expecting a growth of 7.2 %. The country encompasses an area like Germany, Finland, Italy, Poland, Great Britain, Spain and the Ukraine taken together, and has a population of more than 1.1 Bill people, with an average age of under 25. India offers a great potential for Western products for the local growing middle class of estimated 150 Mill consumers. This stated Susanne Weller, Director Marketing & Promotion Europe of the Images Group / New Delhi, on the occasion of the information day "GermanFashion goes India" in Düsseldorf.

The Indian retail business is dominated by family companies and is among the ten largest international markets: According to the last Global Retail Development Index (GRDI) of AT Kearney their local retail trade place for investments is after Vietnam the second most important and attractive market. Overseas direct investments are now possible. Foreign retailers with mono-brands are allowed currently to hold up to 51% own share of their Indian companies. The Indian organized retail trade with shopping malls and supermarkets is momentarily with 5% still only small, however, it should grow in the next years considerably.

The domestic consumers namely desire better quality products and better prices in the future, an optimal customer service and more favorable shopping possibilities. Indian industrial conglomerates like Reliance and Tata Group have recognized this potential and invest in the retail trade sector. Additionally there is the fact that the urban growth and the rural exodus are currently going on much faster than in the rest of the world. By 2030 more than 40.7% of the total population live in urban areas. By 2025, more than 70 cities will have a population of more than 1 million people. For 2009 the Indian retail market is estimated to 291 billion euros, malls and supermarkets account for only € 20 billion - less than 7% of the total, in China there are already about 35%. ...more

Gert Krockert
Translation Dr. H. Arndt

 

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10/07/20

 

Bain-Survey: Luxury Goods Sector Recovers in 2010 after Big Loss in Sales in 2009

Sales in the international luxury goods sector will probably go up in all areas by 4% to altogether 158 Bill EUR this year compared to the previous year. This was predicted by a current study by Bain & Company and the Fondazione Altagamma with the headline "Luxury Goods Worldwide Market Study: Spring 2010 Update".

In 2009 the global sales amounted to 153 Bill EUR against still 166 Bill EUR in 2008 and 170 Bill EUR in 2007. For sales of clothing as well as watches and jewellery the survey prognosticates for 2010 a growth of 4% against 2009, while accessories, shoes and leather goods are supposed to go up by 5% even. Perfume and cosmetics should grow by 2%. "The temporary phenomenon of "luxury guilt" fades in the mature markets. At the same time the attraction of luxury brands is coming back", commented Dr. Rudolf Pritzl, partner and consumer goods expert at Bain & Company.

The growth is speeded up by the growing spending power of the consumers in the Asian countries, above all China, where they assume a two-digit growth. As positive factors for a push upwards several indicators are listed: a strong area-adjusted sales rise in the retail trade for luxury products of 15 to 20%, a globally stronger growth of the gross domestic product (GDP), a revitalization of the worldwide travel tourism and a reactivation of the consumer confidence.

According to the Bain-study there are China and total Asia with growth rates of 15% and 10% the growth drives in the area of luxury goods. Only for Japan they are expecting against 2009 a repeated decrease by 3%. The growth estimates for North- and South America are assessed for 2010 at 4% and for Europe at 3%. " The prognoses for the luxury goods market are very encouraging", stated Santo Versace, chairman of the Fondazione Altagamma. ...more

Gert Krockert
Translation Dr. H. Arndt

 

 

 

 

 
 

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