DS Luxury bets on premium fashion boom, plans 30 stores by FY28 as India's luxury market is set to boom

“India's luxury market is likely to see several new additions in terms of luxury malls, for which infrastructure is still lacking. We would look to have as many as 30 stores by then across the country," said Ritesh Kumar, promoter, DS Luxury Retail Ltd, in an exclusive conversation with Mint.

The move comes amid a broader shift in consumption patterns. “The quiet luxury trend is definitely gaining popularity in India," he said, “but brand logos as status symbols are still relevant and garner massive demand."

DS Luxury currently retails seven luxury menswear brands such as Tom Ford, Berluti, Brioni, and Brunello Cucinelli in luxury malls across Delhi. It introduced Tom Ford in the country back in 2010. 

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Late last year, it launched a women's accessories and shoe brand, Aquazzura, and most recently, this month, it has brought Italian fashion brand Eleventy Milano to India in Delhi's The Lodhi Hotel. The company is known for its luxury, contemporary clothing and shoes.

Berluti—part of the LVMH group portfolio—has also emerged as a very strong performer for the company, too.

Multi-brand retail next

Now, it is working on a multi-brand retail concept in collaboration with an international partner, with launches expected this fiscal. Initial rollouts are planned in Delhi, Mumbai, Hyderabad, and Bengaluru. “This will be more like a concept outlet, and a lot of brands that are not present in India will find it easy to come into this multi-brand outlet and start to retail here," Kumar said.

The multi-brand format, he added, will also help the company enter tier-2 cities, where luxury mall infrastructure is still developing or has not developed at all. “These types of formats can be taken to different cities, even where luxury mall infrastructure doesn't exist," he said. The format also serves as a risk hedge in a market where brand cycles can be short. “Sometimes luxury brands also tend to have a shelf life, so when there is a multi-brand store, that helps reduce the risk for us as well as for the brand before they launch in a mono-brand format," Kumar said.

DS Luxury is also in advanced talks with several global names across ready-to-wear, shoes and accessories. “We are very serious about looking at women's shoes and accessories as a category. Accessories, shoes and bags are doing very well as a category across the world. Select categories and brands have good consumption and strong demand, which will probably continue to see an uptick even in the future," he added.

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Apart from its luxury fashion vertical, DS Group also owns Swiss chocolate brand Läderach, luxury children’s wear stores Les Petits, Le Marche, Le Gourmet by Le Marche, and gourmet French bakery and patisserie chain L’Opéra. Le Marche, which also comes under Kumar's purview, has about 10 stores across the country. 

It will look to add another 3-4 outlets over the next few years to its newly launched Le Gourmet by Le Marche, a luxury grocery store that sells products from brands like Harrods, Swiss tea brand Sirocco, Bacha coffee, and Maestrani chocolates, etc.

Luxury retail changes

All of this comes on the back of the fact that the country's luxury retail landscape is set for a significant transformation with upcoming developments across major cities over the next 4-5 years. 

While at present there are a clutch of luxury malls in the country, in Delhi, Bharti group is working on Worldmark Aerocity, poised to become the country’s largest mall, while Mumbai is expected to see new luxury-focused projects like Oberoi Realty’s Three Sixty West in Worli and additional expansions by the Palladium group. Similar activity is underway in Bengaluru, Hyderabad and other metros, signalling stronger infrastructure support for premium retail.

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This growth comes as India’s affluent population is set to expand sharply over the next five years. According to property consultancy Knight Frank India, the number of ultra-high-net-worth individuals (those with net worth exceeding $30 million) is projected to rise by 58.4%, to over 19,000 by 2027 from 12,069 in 2022. 

The billionaire count is also expected to grow to 195 from 161 during this period. Meanwhile, the high-net-worth individual (HNI) segment—with net assets over $1 million—is forecast to more than double to 16.5 lakh from 7.9 lakh.

Key takeaways 

1. DS Luxury plans to open 30 stores across India by 2027–28, including luxury mono-brand boutiques and multi-brand retail outlets.
2. India's luxury market is growing rapidly, fuelled by rising demand for high-end fashion and accessories.
3. The company is developing a multi-brand retail format in partnership with an international collaborator. 
4. DS Luxury recently introduced Italian fashion brand Eleventy Milano and women's accessories brand Aquazzura in India, alongside established luxury names like Tom Ford, Berluti, and Brioni.
5. India’s luxury retail landscape is set to transform, with new luxury malls and projects emerging across major cities.