Luxury cos rest hopes on winter for sales pick-up

At luxury hotspots across the country, early trends point to a revival of sales momentum in the second half of the fiscal year after a lukewarm first half.

There is optimism that the ongoing festive season, including weddings, will make up for lost business after luxury sales slowed early this year compared with both 2022 and 2023, according to industry experts. The reasons were a mix of high summer temperatures, the general elections, and a general slowdown in the consumer shopping sentiment.

Let's start with Delhi. Soon after opening for the day on a lazy Saturday afternoon in November, the Aquazzura store in the capital's The Chanakya Mall is seeing brisk sales even after several long weekends of festivities, including Diwali parties. Despite steep prices-Aquazzura shoes retail from 60,000 to several lakh rupees customers are making swift purchases through sales representatives on video calls, with deliveries being packed to send to their homes.

The Italian women's footwear retailer, which famously dressed actor Meghan Markle for her wedding, had opened its doors earlier this month through local partner DS Group's luxury arm, DS Luxury.