Zara took a step towards Mumbai but lost it to Purple Style Labs for approximately 30 million rupees. Purple style has a reputation of being expensive, which seems to do wonders for their image. It is evident that marketing is one reason why Indian companies have experienced increased losses over the years. After all, spending 3 crore reports more liability than benefit. Rent marking expense has also been recorded as a purchase, which makes the case all the more suspicious. It would be surprising for anyone to see a monogram purple style logo splashed across the region. Debit Clothing India or Purple Jewel – which one will it be? The bronze double diamond logo resembling a rainbow heart sleeker diva bubble wand will have the region paying top dollar for a monument invert style. The style pillar has now been placed under the defusive meus pinging monogram gold my purple style brand inc. As if the combination of Aisha Mehta and skull smashable mannequins wasn’t enough, without making these boundaries and borders. El Hoover The her statement, which struck a chord with many, was this store wasn’t just the destination for shopping. It was the treasure box which allowed me to explore my shopper identity.
“The world has progressed, while I feel like I am stuck in my past. Zara have been closed for quite some time now,” she said. “I don’t believe any of these stores had a rented facility. Bluntly speaking, with all the changes introduced there, I suspect a painful increase to the rent along with a sudden move to experience and eCommerce made all the difference.”
While discontinuing its prominent store, The franchise is still functioning in other parts of Mumbai. Purple Style Labs is moving to Digital Retail with great leaps in investment efforts. Purple Style Labs that owns Amit Aggarwal and Vedant Luxury franchises bought a new building amalgamating a total area of 20 thousand square feet. This region is famous for the having some of the highest recorded retail sales in Mumbai. With these expansion plans, PSL sets retail labels on a new offline investment booster. Moreover, this also suggests that PSL is also very hopeful for the resurgence of offline retailing. While Making Integrated Statements, The CEO of An Indian Designer Luxury Brand’s Retail Store And Heavy Investment Claimed New Technologies were over mentioned. In a statement to the press, the PSL CEO said it is imperative to change the shopping experience “for Indians”. “This store is not just a store, it’s a collection of a world carved out of the designers imagination” specific statement by PSL CEO. How this Impacts the Retail Real Estate Sector Monopoly Leasing will end up backfiring the retail segment over the hyper inflating prices of Mumbai property. It operates on the concept of value affordayi fractional proprietorships dipped in faux royalty.
Rohit Shah, a real estate specialist commented that “Physical stores became theatres of brand storytelling ,” and “PSL is not paying for square footage – they’re investing in a landmark.” What’s Next for Mumbai’s Shopping Avenues? The exit of Zara and entrance of PSL marks worrying trend of globalization – stores cannot find the right balance between their real and virtual existence. For consumers in Mumbai this shift is somewhat mixed. Rohan Desai, a student suggests that, “I will miss Zara’s vibe but welcome an Indian brand taking center stage.” The Larger Context: Resilience of RetailWhile zara’s exit is unfortunate to some, others seem to have a more cynical view towards PSL’s entry thinking it’s an indication of rising Indian brands. In a more powerful world, this space could very well become a symbol of pride for hand crafted luxurious Indian goods competing against worldwide brands. As correctly put by Amit Aggarwal, “Retail isn’t dying, it’s being reborn.”