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Business News/ Companies / News/  Tata CLiQ Luxury plans to add 10 more boutique brands to its portfolio by Jan
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Tata CLiQ Luxury plans to add 10 more boutique brands to its portfolio by Jan

The brands would be in the niche and high-fashion categories, with clothing, accessories, handbags and footwear being the main focus, the company said

Gitanjali Saxena, business head of Tata CLiQ Luxury, says the platform targets 1-2% of the top consumers in India. (Photo: Bloomberg)Premium
Gitanjali Saxena, business head of Tata CLiQ Luxury, says the platform targets 1-2% of the top consumers in India. (Photo: Bloomberg)

NEW DELHI:Tata CLiQ Luxury is looking to add about 10 new brands by January to expand its footprint in the bridge-to-luxury fashion segment.

The brands would be in the niche and high-fashion categories, with clothing, accessories, handbags and footwear being the main focus, the company said. It will also tie up with multi-brand boutiques that house many brands in offline retail stores, including Aditya Birla Group’s The Collective, earlier this week.

Recently, the company also launched 13 international brands on the platform, including Aspinal of London, Baldinini, BCBG, Eugenia Kim, Kendall + Kylie (footwear), Liu Jo, Pollini, Loci, and Mulberry. In addition, it is looking at fashion as its strategic focus and has partnered with local company Le Mill, a multi-brand luxury fashion brand based in Mumbai. The company also sells brands such as Saint Laurent, Balenciaga, Chloé, Céline, Dries Van Noten, Balmain and Jacquemus in its store.

Gitanjali Saxena, business head of Tata CLiQ Luxury, said the strategy for the company was to target about 5 million households or 1-2% of the top consumers in India. While she did not disclose how much the luxury portfolio contributes to the entire business of Tata CLiQ, Saxena said that the top brands that retail on their platform get about 15-40% of their entire sales from the website. “Our large digital presence is contributing heavily to their sales. It is a very serious business channel for these companies," she said.

At this point, the segment has 55% male shoppers and 45% female. While men are higher-value shoppers, women do transact more on its platform. “The Indian consumer wants to experiment, and for us, this is more like a gateway to strategy. The idea will be to bring a lot of new brands and try them out," she said.

The company is seeing its highest growth in the footwear and watch categories. “These are new, emerging categories which have been doing well in the past year outside of apparel and handbags. Some of the other new categories like home, eyewear and beauty," she added.

In its Black Friday sale, which it did in the last week of November, the company did see strong numbers in its home segment. It has also tied up with interior designer Gauri Khan to launch her range. However, on a consolidated basis, the company doubled its loss to 763.83 crore in FY22 from 370.6 crore in the previous year, according to its annual report. In the current fiscal year, the company purchased 78.2 crore of inventory in the fiscal as compared to 27.61 crore in FY21.

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ABOUT THE AUTHOR
Varuni Khosla
Varuni serves as a Senior Assistant Editor at Mint. Her responsibilities encompass crafting compelling narratives that take a deep dive into hospitality companies, the business of art, luxury brands, the intricacies of the business of sports, advertising and marketing landscapes, gaming insights, tourism and travel industry trends. She also covers alcohol commerce. She is skilled at communication, meticulous research, and insightful analysis keeping contemporary shifts and advancements within the lifestyle and business domains at the heart of her work.
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Published: 04 Dec 2022, 09:44 PM IST
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