India Inches Towards Becoming Global Lifestyle Hub With 90 Per Cent Of Top 50 Brands Being Active In Country, Buoyed By Strong Online Sales

India is rapidly becoming a hub for global lifestyle brands, with 90 per cent of the top 50 international brands active in the country and many others preparing to launch, driven by strong online sales, as per a report by The Economic Times.

The burgeoning e-lifestyle market can also be credited to the increasing affluence and purchasing power of Indian consumers leading to an increasing interest towards purchasing luxury goods.

"India is a key destination for global lifestyle brands — 90 per cent of the top 50 global brands are active in India, and half of them have already achieved over USD 30 million in revenue from the Indian market. Scaled global fashion brands in India have shown robust growth, with a 20 per cent increase year-on-year from 2018 to 2023," the same report stated quoting a study conducted by Bain & Company and Myntra.

Approximately 50 per cent of global brands generate more than $30 million in revenue in India, according to another study titled "E-Styling India: Decoding India's Online Fashion and Lifestyle Shopping Trends."

Over 60 different lifestyle brands were either launched or planned to be launched in India over the past year.

It has also pointed that the online channel is the preferred entry point for global brands entering the Indian market, offering numerous benefits such as access to a large customer base and market trend insights.

Fashion brands like H&M and Mango have leveraged online platforms to expand their reach in tier-2 cities and manage operational challenges in a new market.

The study has also projected that India's $130 billion lifestyle market, with fashion accounting for nearly 80 per cent and the rest beauty and personal care, is expected to grow at a 10-12 per cent compound annual growth rate to reach $210 billion over the next five years.