Luxury Quotient International Inc. to Edge Past 50 Top Luxury Brands by Q2 2015
Toronto, Ontario (PRWEB) February 23, 2015 -- Toronto-based Luxury Quotient Group, the operator of an online luxury marketplace in India, is increasing its portfolio to over 50 well-known luxury brands in the fashion & lifestyle segment by the next quarter of calendar 2015.
According to LQ President Vikas Ranjan, this enhancement of their portfolio will put a dent in the importation of counterfeit and deeply discounted old products by unscrupulous ecommerce companies and local retailers who take advantage of the fact that at present the Indian market lacks direct access to most luxury brands.
Over next few months, LQ will begin signing distribution deals with some of the big names in the North American luxury segment to formally launch them in India. On the retail end, LQ already has an exclusive partnership with “CURATIONS,” a boutique in New Delhi that has become the shopping playground of India’s rich and elite.
Most luxury brands and international retailers are now shipping directly to Indian consumers through their own websites, but that approach is often termed illegal by legal experts due to India’s unique company law, foreign exchange laws, consumer protection laws and related tax regimes, LQ market research shows. These key compliances envisaged under Indian laws make it very difficult to comply for brands doing business legally in India unless they are really shipping big numbers to justify incorporating a local entity in India.
"The sheer demand from our retailing network and end customers is very encouraging and we will continue to add more European and North American brands in the mix,” says Mr. Ranjan. “Today, most brands want to expand beyond their natural markets and India offers an excellent untapped opportunity where demand for international brands is very strong and continues to grow. At LQ, we offer a unique platform as a legal gateway to India for direct distribution and demand creation while protecting brands against counterfeits and piracy.”
“It is perfect timing for most luxury brands as they cannot ignore the Indian market for long without losing to counterfeits and unauthorised selling by distributors of other territories as it only discounts the overall value of a brand,” adds Luxury Quotient India’s Managing Director Deepak Kumar. “As a distribution partner, we offer cost effective expansion to India where focus is for long-term demand creation and not deep discounting for short term goals.”
Sukriti Singh Rao, Luxury Quotient International Inc, http://www.luxuryquotient.com, +1 8882083140, [email protected]
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