New Delhi: Luxury retailer Burgundy Brand Collective aims to cross ₹200 crore in revenue in FY27, as the Mumbai-based company bets on rising premium consumption beyond India’s top metros.
Burgundy, which reported sales of ₹160 crore in FY25 against ₹120 crore in FY24, also plans to nearly double its store count over the next three years to about 65.
The company, which has introduced brands such as Royce’ Chocolate, Onitsuka Tiger, Jacadi Paris and Ligne Roset to India, plans to invest about ₹100 crore to scale its multi-category portfolio, cofounder Samir Gadhok told Mint.
The expansion comes as India’s luxury consumption story broadens to newer cities where affluent consumers are spending more across categories from fashion and food to home and lifestyle.
Burgundy’s approach has been to build across categories rather than deepen a single vertical. "We want to be everything to one customer, rather than one thing to everyone,” said Gadhok.
The company is also seeing strong same-store growth, with several categories reporting double-digit increases, indicating that luxury consumption is becoming more consistent rather than occasional, Gadhok said.
Offline retail remains central to its strategy, accounting for 80–85% of sales, driven by personalised service and stylist-led interactions.
India’s luxury market continues to gain momentum, Mint reported earlier. Brands such as Louis Vuitton India, Gucci India and Hermès India together posted about ₹5,000 crore in sales in FY25, while Swiss luxury watches recorded sales of ₹3,500 crore in CY25.
Beyond these, the market is split between large platform players such as Reliance Brands and Aditya Birla Fashion & Retail, and smaller, curated operators such as Burgundy, DS Luxury, CK Israni Group, and Luxerati Retail. While the larger firms focus on scale and distribution, smaller operators are betting on curation and customer experience.
Earlier this week, Burgundy acquired Mumbai-based multi-brand retailer Le Mill for an undisclosed amount. The company plans to build this business gradually over the next 12-18 months, retaining its stylist-led and editorial approach before expanding into other cities.
Le Mill, which competes with Aditya Birla’s The Collective and Reliance Brands’ White Crow, houses labels such as Saint Laurent, Loewe, Valentino, Balenciaga, Jacquemus, Celine and Chloé.
“Over the longer term, expansion will follow, starting with Delhi and then moving to cities such as Bengaluru, Hyderabad and Kolkata, with five to eight stores planned over the next five years,” Gadhok said.
These will be larger, experience-led formats rather than standard retail outlets, with an emphasis on unique spaces and personalised styling. “The broader idea is to build a destination that reflects an Indian interpretation of global fashion, rather than scale up into a conventional chain,” he added.
Limited luxury retail space
A key constraint for luxury retailers remains the limited availability of premium retail real estate, particularly in cities like Mumbai and Delhi, which is pushing up rentals and making expansion more selective.
“There is just not enough supply,” Gadhok said.
According to real-estate consultancy Anarock, high streets are currently seeing faster growth than malls in terms of leasing volumes and rental appreciation, driven by a supply-demand mismatch in organised retail.
"…high streets are scaling faster than malls in leasing activity and rental growth due to a supply crunch in organised retail, even though malls remain the preferred entry point for global luxury brands given their experiential positioning," said Anuj Kejriwal CEO and MD of Anarock Retail speaking on the sector. "As cities like Mumbai and Delhi await new Grade A assets, leasing activity is also spreading to other metros such as Hyderabad, driven by rising disposable incomes and a growing appetite for luxury consumption.”
Premium malls are the preferred entry point for global luxury brands because there is an experience-led environment, but the shortage of quality space is pushing retailers to increasingly explore high street locations as well.
Despite the challenges, Gadhok said the company is optimistic about the long-term opportunity. “We are profitable across most of our businesses and will fund expansion internally, without actively seeking external capital in the near term,” he added.