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Starting with a single sneaker launch in 2014, the brand has expanded into other retail categories, including outerwear, streetwear and accessories to become a lifestyle brand for all ages — from children barely old enough to pronounce the name of the business to veteran fashion consumers.
The expansion of luxury retail, both in the present and the foreseeable future, extends beyond major Indian metropolises like New Delhi, Mumbai, Hyderabad, and Bangalore, encompassing upscale towns across the nation. The number of millionaires in India is expected to double to 1.6 million within the next three years.
Struggling to achieve growth in its home market, the company is ramping up its investment in Southeast Asia – especially in Vietnam and Cambodia. However, expansion in Vietnam has been a slow journey: next year will dawn with a network vastly smaller than the company promised as recently as 2020.
Kicking things off with a Kickstarter campaign Like many indie brands on the market today, a large source of funding was found via Kickstarter, a public funding platform for creative and entrepreneurial projects. Even with a cautious approach to expansion, Touchland has created a noteworthy omnichannel distribution.
Brands such as Boat, Wow Skin Science, Sugar Cosmetics, Lenskart , Licious, and Mamaearth have carved out a niche in the Indian retailmarket by connecting directly with consumers. Estimates suggest that India is now home to over 800 DTC companies, with the ecosystem’s market value reaching about US$12 billion in 2022.
million in 2014, the retailer suffered from years of declining foot traffic and was placed into liquidation at the end of 2020. . As retail shifts online, the retail marketplace fulfills this role very efficiently and effectively, offering newness, range, entertainment, and nowadays also compelling pricing and delivery to the home.
Figures from Euromonitor show that the number of convenience stores in Vietnam increased from just 565 in 2014 to 1289 by 2019 when revenues reached US$103 billion. The key players at the time were FamilyMart, Circle K, and B’s Mart, with market shares of 21.4 They grew quickly, relatively unchallenged by local operators. per cent, 20.7
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