Versace, Cavalli seek new partners in India; Longchamp shuts shop

High operating costs and soaring rentals are the bane of luxury retailers who have also noticed a 20-25% reduction in footfalls. The non-existant growth of luxury brands in India, according to experts, can be attributed to a confused strategy followed by brands. Experts say, luxury brands are selling old collection in India which is driving sales down.

from Industry-Economic Times https://ift.tt/2D4vu1V
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