While thousands of Indians will probably eat khichdi, the popular comfort food, their cats and dogs will gorge on gourmet meals.
Chances are your favourite five-star hotel might be sold out. As the year draws to a close, bookings for New Year’s Eve staycation packages at luxury hotels have gone up exponentially.
The company will now work on a cold kitchen concept and prepare fresh food. The cafés would be about 800-1,500 sq ft with a per-store investment of about Rs 1 crore. It expects the return on investment to start within two-and-a-half years of a store first being set up.
GeekCrate is a company that ships out a very special dazzling box to geeks in India who love comics, television, movies, gaming and anime.
Many may not have heard of Elysium, Rose Atlantic, Sahraa Oud and 24 Old Bond Street Triple Extract, but collectors of unique scents are a growing breed in India. And some of them stock over 800 bottles in their "perfume wardrobes". And they can cost anywhere upwards of Rs 10,000 and go up to Rs 2.5 lakh for a 100ml creation.
Most consumers tend to go bargain hunting online. For a large part of 2019, luxury mall managers reported that sales were lacklustre. Luxury goods websites, however, managed to buck the trend because of 20-50% lower costs on their sites. But at the moment, watch companies do not seem to be finding too many takers in tier-2 and 3 towns.
It costs Rs 5-6 crore per store to set up and over the next three years, the company will spend Rs 50-60 crore on The Collective portfolio, its brand head, Amit Pande, said. “We want to double our footprint and our monobrand portfolio will also see growth. However, those (mono-brand) stores cost much less at about Rs 2-3 crore per store to set up.”
Black Friday, or the Friday after the Thanksgiving Day in the US, is regarded as the beginning of Christmas shopping season there. Some marketers consider it a “business occasion” to acquire new customers while some others use the occasion to push fresh merchandise sales before winter sales kick in around December 20.
High operating costs and soaring rentals are the bane of luxury retailers who have also noticed a 20-25% reduction in footfalls. The non-existant growth of luxury brands in India, according to experts, can be attributed to a confused strategy followed by brands. Experts say, luxury brands are selling old collection in India which is driving sales down.
Hotels should look to lower their carbon footprint, and protect the ecology.
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