Fashion and apparel-led company The American Swan Lifestyle has opened its doors online in India at AmericanSwan.com.
Four Cross Media, a digital media conglomerate, will invest 40 crores in the venture.
The American Swan’s new shopping portal will offer customers a range of products spanning categories such as men’s and women’s apparel, footwear, accessories, beauty, home and living products.
“As consumers in India look for global designs and standards with affordable pricing and the convenience of a click, American Swan expects to garner a significant share of the apparel and lifestyle market,” said CEO and director Anurag Rajpal.
“We aim for a differentiation through our brand proposition and positioning to offer affordable luxury to an aspiration-led audience that seeks international quality and fashion. Our product detailing, packaging and fulfillment is on par with international standards,” he added.
The fashion and lifestyle segment in India, estimated at 17 per cent of the total retail market, is worth over US$60 billion reported in a PwC research. Growing at a compound annual growth rate of 15 per cent to 20 per cent, this is estimated to grow to more than US$90 billion in 2015.
The boom in this sector is attributed to increased consumerism with a capacity to spend on luxury items and increased spending power.
GB