E-commerce firms eye business opportunity in luxury fashion: Report

12 July, 2018 10:47 AM

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E-commerce firms eye business opportunity in luxury fashion: Report

Major companies are pushing premium brand offerings on their platforms

E-commerce companies are trying to break into the premium and bridge-to luxury segment, according to a report by The Economic Times.

Reliance's AJIO has, over the past few months, begun selling premium brands on the platform, such as Steve Madden, DC Shoes, Ed Hardy, Gas, Quiksilver, Roxy, Superdry among other global labels.

Jabong recently piloted a 'Jabong Luxe Store', where users need to register to gain access.

The average sales price for fashion apparel on online platforms is anywhere between Rs 600-900, while for premium brands it is Rs 3,000, a top executive at an e-commerce company told The Economic Times.

"The average sales price for any of the premium brands is more than Rs 3,000, so it is a big challenge for e-commerce companies. The market is so small that anyone attempting to do Rs 40-50 crore a year is a huge success," the executive added.

Tata Group's Tata CLiQ is also looking to increase premium brand offerings on the platform, the report said.

Also read: Hindalco tanks 8% on buzz of Aleris acquisition worth $2.5 billion

Source: moneycontrol.com

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