3,000 stores to open in India, world’s most promising retail market
In this article (5)
The recent implementation of the GST along with the rise of e-commerce has caused over 50 brands to announce that they will launch in India in the next six months.
Data compiled by Franchise India states that a large number of brands, including 14 from the US and 11 from Singapore, are set to start business in India. The main sectors they will be doing business in are the food and beverage industry where 18 new brands will be launching and the apparel and lifestyle industry where 13 brands will be launching.
Just some of these international fashion, cosmetic, and lifestyle brands launching at present in India are Greece’s bag manufacturer Migato and Lush Addiction, a jewellery company from Singapore using Swarovski crystals in its designs. Others include Korres, Monnalisa, Evisu, and Melting Pot. Education-focused brands will also be coming to India from abroad.
An AT Kearney report stated that this month India overtook China as the most promising retail market in the world. Many international companies are experiencing troubles in their home countries due to the economic downturn and so are hoping that launching in India will help to boost their finances.
India is currently an attractive market to launch in due to its growing middle class as well as increasing urbanisation. Moreover, e-commerce is blossoming as more and more labels are experiencing success through online retail portals.
The government has now allowed 100% foreign ownership in business to business e-commerce ventures and has made efforts to boost cashless payments which is making the online market easier to break into for foreign firms.
Questions & Answers
Q.Which specific sectors are seeing the most new brands enter the Indian market?
Which specific sectors are seeing the most new brands enter the Indian market?
The food and beverage industry will see 18 new brands launch, while the apparel and lifestyle sector will welcome 13 new brands. Education-focused brands are also expected to enter the market from abroad.
Q.Why is India currently considered an attractive market for international brands?
Why is India currently considered an attractive market for international brands?
India is attractive due to its growing middle class, increasing urbanisation, and blossoming e-commerce sector. The government's allowance of 100% foreign ownership in B2B e-commerce and efforts to boost cashless payments also help.
Q.What policy changes have made the Indian e-commerce market more accessible for foreign companies?
What policy changes have made the Indian e-commerce market more accessible for foreign companies?
The government has allowed 100% foreign ownership in business-to-business e-commerce ventures. Also, efforts have been made to boost cashless payments, simplifying market entry for foreign firms.
Q.Which international brands are mentioned as launching in India?
Which international brands are mentioned as launching in India?
Specific brands mentioned include Greece’s Migato and Singapore’s Lush Addiction, which uses Swarovski crystals. Other brands noted are Korres, Monnalisa, Evisu, and Melting Pot, alongside education-focused brands.