Genesis Luxury Fashion Pvt. Ltd. retails luxury brands like Coach, Burberry, Furla, Tumi, Hugo BOSS and Jimmy Choo in India will be their only authorized partner for online retail in India. The two companies will also look to getting exclusive luxury brands in India for the first time through the venture.
Genesis Luxury fashion was established in the year 2007 for marketing and distribution of international Luxury Labels within India by India’s leading fashion conglomerate, Genesis Colors – the fashion house behind premium designer labels Satya Paul and Bwitch.
Ashutosh Pandey, CEO, TataCLiQ, said, “Together, Genesis and TataCLiQ.com are also targeting a number of luxury brands that are not present in India or a part of Genesis’ portfolio. These will be launched over a period of time on TataCLiQ.com. Luxury products online on TataCLiQ.com are all known, well established brands, with a strong loyalty base. Customers of these brands are completely sure about the quality of these brands, and comfortable with the prices at which these are retailed in an offline channel and the online platform will add to their shopping experience and convenience.”
Partnering with Genesis will help TataCLiQ.com get some of these brands online in an authentic and authorised manner to the consumer.
Over the next few months, the plan is to expand the offering by adding many more categories, brands and exciting features, the company added.
“Our partnership with Genesis Luxury is a testament to providing the Indian consumer authentic brand experiences directly through authorized sellers and not unknown resellers. Currently, all the international luxury brands online on TataCLiQ.com are through our exclusive tie-up with the Genesis Group, and form a part of Genesis’ portfolio in offline retail,” said Ashutosh .
“We are excited to partner with TataCLiQ.com which brings a unique online experience to shoppers seeking an authentic brand experience. The essence of Genesis Luxury lies in our philosophy that luxury brands are an experience above all. The partnership reaffirms our commitment to deliver value at par with the brands’ international standards. It will also enable us to expand our presence to cater to our growing affluent consumer market through the vast online network of TataCLiQ.com,” said Nikhil Mehra, CEO, Genesis Group.
According to a Goldman Sachs report released last year, the e-commerce market will account for 2.5 per cent of India’s gross domestic product by 2030, growing 15 times and reaching $300 billion. The current size of e-commerce is $20 billion.
TataCLiQ.com will open to consumers on May 27, 2016 across its website, mobile site and mobile apps (Android & iOS). It will offer apparel, electronics and footwear categories.