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The shopping scenario in the last couple of years has gone through a massive shift across all segments in India, luxury segment is no different. Luxury goods are becoming more and more affordable and easily available to the consumers. It’s not just the high net worth individuals who are donning the latest trends available in the hi-end segment but with consumers overall are warming up to the idea of E.M.I options for their luxe shopping, jump from hi-street to hi-end has become rather easy. 

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A watching trend When it comes to watches which are a novelty item for most, luxury brands are a favorite. Leading the growth story of watches with 40% <keyword id="34527" type="B2BTAGS" weightage="40" keywordseo="market-share">market share</keyword> online, <keyword id="6354742" type="B2BCOMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> has been witnessing an unusually high demand for premium watches which has been fuelled by an increase in brand awareness and purchasing power of Indian shoppers. According to a recent study released by <keyword id="6355988" type="ORGANIZATION" weightage="20" keywordseo="assocham">ASSOCHAM</keyword>, the luxury retailing will grow at 25 per cent from 2013 till 2018 and is likely to touch $ 18 billion mark from the ongoing level of $ 14 billion by the end of 2018. At Flipkart, the projected growth momentum in this segment has been exceeded where premium watches priced between 15-20K have witnessed close to 250% YoY growth while premium watches priced over 10K have witnessed a 200% YoY growth in sales.

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 With the category currently contributing to 10% of the overall watches business, Flipkart aims to increase this to 15% by the end of 2017 which translates into tie-ups with the brands such as Rado, <keyword id="54994" type="UNKNOWN" weightage="20" keywordseo="Tag-Heuer">Tag Heuer</keyword>, Longines, Movado, <keyword id="6368261" type="B2BCOMPANY" weightage="20" keywordseo="Raymond">Raymond</keyword> Weil, Fredrique Constant, Tissot and others. Ruling roost Men however lead the way at least in this category, “Close to 55% of sales in this category come from metros and tier I cities, with a majority of sales being concentrated in Delhi. Men contribute to close to 75% sales in this category. We aim to maintain this category’s growth momentum by increasing it by 4X times during the upcoming ‘The Big Billion Days’. A couple of exclusive lines with best-selling luxury watch brands too are in the works for the festive sale season,” Rishi Vasudev, Head- Flipkart Fashion told Business Insider. With easy options such as ‘No Cost <keyword id="6357050" type="ORGANIZATION" weightage="20" keywordseo="emi">EMI</keyword>’ and ‘Buy Now Pay Later available for buying luxury goods online, Vasudev credited the rise of luxury watch category to the 'price-conscious' consumers for whom the 'timing' couldn't be better to invest in that hi-end watch they always aspired to buy.

Online luxury watch segment is growing over a whopping 200% in India, Flipkart Fashion Head explains why

<keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword>, India’s biggest e-commerce giant, has set up an ambitious goal to sell one out of every two units to be sold in fashion category, in the coming festive season. Additional sales are expected to come from group-owned category portals Myntra and Jabong. 
 Flipkart, earlier this year in July, acquired Jabong for $70 million, and got over 65-70% share in the online fashion market in India. "<keyword id="2547930" type="UNKNOWN" weightage="20" keywordseo="Flipkart-Fashion">Flipkart Fashion</keyword> was launched in 2012 and today it commands the No. 1 position. We have the largest share of the online fashion market between 30-35%," <a href="http://www.businessinsider.in/searchresult.cms?query=Rishi+Vasudev&amp;sortorder=effectivedate">Rishi Vasudev</a>, vice-president, who heads Flipkart Fashion told ET. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=+Flipkart&amp;sortorder=effectivedate">Flipkart</a>, currently is in competition with <a href="http://www.businessinsider.in/searchresult.cms?query=Amazon+India+&amp;sortorder=effectivedate">Amazon India </a>for becoming the leader of the online fashion market in India. Amazon, backed by heavy investments from its US parent, is gaining on Flipkart. The gap between two players in terms of GMV is closing, with investors and analysts estimating it to be 15-20%. With <a href="http://www.businessinsider.in/searchresult.cms?query=Myntra&amp;sortorder=effectivedate">Myntra</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Jabong&amp;sortorder=effectivedate">Jabong</a> generating sales of around Rs 400-500 crore a month and owned by Flipkart, the company has not been stressed by the aggressive spending of <keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword>. 
 
Flipkart, however, has now decided to stand up to the narrowing gap and expand the gap with the help of fashion in the coming festive season, and also by increasing the sales in smartphones and in large appliances like TVs and washing machines. 
 "In terms of units, Flipkart Fashion is the largest category, but in terms of value, we are behind smartphones," <keyword id="6564425" type="PERSON" weightage="20" keywordseo="Vasudev">Vasudev</keyword> told ET, while declining to comment on GMV numbers."By 2020, the market is estimated to be anywhere between $50-80 billion, with fashion at 30-35%. As leaders in the segment, our share as part of the overall GMV will only increase," he further added. 
 Flipkart is looking to improve the experience of these customers by signing exclusive licensing agreements with brands like Provogue, Swiss Military, <keyword id="379515" type="PERSON" weightage="20" keywordseo="Carlton-London">Carlton London</keyword> and Chemistry. It has also signed an exclusive brand tie-up with <keyword id="249815" type="COMPANY" weightage="20" keywordseo="Peter-England">Peter England</keyword> to launch a wider collection of its shoes, which is the highest penetration sub-category in the segment. 
(image:Reuters)

Flipkart aims to sell half of
India’s fashion. Read to know more

<keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword>’s fashion section will be looking far more glamorous, vibrant and trendy now as the e-commerce giant has relaunched its core fashion category by including a wider range of outfits, specially curated by over 100 fashion consultants, to differentiate the shopping experience of its customers and maintain leadership over rival <keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword>. 
 
The company is looking forward to tie up with brands, celebrities, TV channels and Bollywood movies and build stores accordingly as it feels customers are influenced by celebrities when it comes to fashion. 
 "Our data suggests that people (searching for fashion) are influenced mainly by celebrities, Bollywood, Hollywood, friends and brands. The revamped section will see the selection presented in this form,” <keyword id="1885107" type="PERSON" weightage="20" keywordseo="Rishi-Vasudev">Rishi Vasudev</keyword>, vice-president for fashion retail at Flipkart, told ET. 
 
The company has hired a team of 100 style consultants, who will help curate outfits based on searches made by customers. 
 
However, the company clarified that any seller can list on the marketplace as it is only the presentation that will change. 
 The move is also in line with Flipkart's core strategy of focusing more on increasing listings by sellers, particularly the smaller long-tail merchants, where <keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword> currently has an edge. 
 
"The thinking is that we should build all categories based on our fundamental capabilities,” Krishnamurthy told ET.

Flipkart’s fashion segment is getting revamped and it’s going to be good

India's largest e-retailer <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword> has rearranged the top-level roles in its core marketplace business, so that it can see a boost in its sales and improve its seller ecosystem. 
 
Samardeep Subandh, who had joined <a href="http://www.businessinsider.in/Flipkarts-ad-business-can-promote-brands-by-playing-with-data-analytics-and-customised-searches/articleshow/52308147.cms">Flipkart </a>as its marketing head in December 2015, will now look over as the head of categories and would report directly to CEO <a href="http://www.businessinsider.in/Flipkart-duo-Sachin-and-BinnyBansal-make-it-to-2016-TIMEs-List-of-100-Most-Influential-People-in-the-World/articleshow/51929491.cms">Binny Bansal</a>. 
 
Having worked with several FMCG giants like HUL and Marico, Subandh has over a decade of experience in sales and marketing. In his new role, he is expected to help boost sales for multiple categories, especially mobiles and appliances, which has been a major growth area for Flipkart and is currently under competition with <a href="http://www.businessinsider.in/Tiger-global-reduced-Amazon-stake/articleshow/52308087.cms">arch rival Amazon</a>. 
 
As per the new arrangement, Subandh would have Amit Bansal (head of large appliances), Rishi Vasudev (head of fashion retail) and Adarsh Menon (head of electronics and automobiles) reporting him. 
 
Also read: <a href="http://www.businessinsider.in/Beware-Flipkarts-Ekart-is-making-a-disruptive-entry-into-courier-service/articleshow/52341141.cms">Beware! Flipkart’s Ekart is making a disruptive entry into courier service segment</a> 
 
In other news, former MobileStore COO Ajay Veer Yadav has also joined Flipkart as VP of mobiles category so that Flipkart can counter aggressive moves from Amazon India. 
 
<a href="http://static.nextbigwhat.com/wp-content/uploads/2016/03/16115824/Flipkart.jpg">Image source</a>

Flipkart rearranges top level to regain lost position in online mobile sales

On Wednesday, India's largest e-tailer Flipkart announced the addition of two new members to its leadership positions. <keyword id="1885107" type="PERSON" weightage="80" keywordseo="Rishi-Vasudev">Rishi Vasudev</keyword> joined as the new vice-president, Fashion (Retail). The other member to join Flipkart is <keyword id="2593655" type="UNKNOWN" weightage="60" keywordseo="Parameswaran-Balakrishnan">Parameswaran Balakrishnan</keyword>. He joined the organisation as the new vice-president, HR for supply chain. 
 Vasudev brought along with him over 15 years of experience in the fashion and retail industry with his last stint being the CEO of <keyword id="2134530" type="ORGANIZATION" weightage="80" keywordseo="Calvin-Klein-India">Calvin Klein India</keyword>, said Flipkart. He started his career with the <keyword id="44373" type="CITY" weightage="80" keywordseo="Aditya-Birla-Group">Aditya Birla Group</keyword>. 
 As per a statement issued by Flipkart, Vasudev has worked with companies like Louis Philippe, Arvind Brands - where he led the end-to-end makeover for brands like <keyword id="6392652" type="COMPANY" weightage="80" keywordseo="arrow">Arrow</keyword>, Gant and Izod. 
 
According to Mukesh Bansal, head of Fashion, Flipkart, "Fashion is very strategic to us and we have seen tremendous growth in the category this year. We are continuously expanding our selection and experience for the lifestyle category. To drive this agenda forward, we are very excited to have Rishi joining our team." 
 Parameswaran Balakrishnan has joined the organisation as vice-resident, HR for supply chain. Flipkart revealed that his role will involve driving all business partnering, talent acquisition and functional L&amp;D for supply chain at Flipkart. He has more than two decades of experience working with large organisations like <keyword id="6374528" type="CITY" weightage="80" keywordseo="Toyota">Toyota</keyword> and <keyword id="42747" type="CITY" weightage="60" keywordseo="Tata-Motors">Tata Motors</keyword>. 
 
Mekin Maheshwari, CPO, Flipkart, expressed that these new additions to the company's leadership team show the importance it place on identifying and securing the best talent available. He also stated that Flipkart is quite excited to have Param joining us. 
(Image: Flipkart)

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Online luxury watch segment is growing over a whopping 200% in India, Flipkart Fashion Head explains why

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