That the Indian fashion industry is in a state of flux is not something that’s up for debate. After a wobbly run during the early days of the pandemic in 2020, homegrown brands have rethought their models to keep businesses afloat. Pret offshoots (yes, the flood of kaftans and co-ord sets) from labels that were once only limited to high-end clothing became the then tactic of choice. Next came the serious case of binge-shopping by the country’s two leading corporate houses, Reliance Brands Limited (RBL) and Aditya Birla Fashion & Retail Limited (ABFRL) pouring investments in leading designer labels to launch new lines and amp up their existing businesses. Cue: the bridge-to-luxury boom that we are now witnessing.
In the past few months, an increasing number of designers have announced their bridge-to-luxury lines. Simply put, these are “accessible luxury” brands that serve as a pathway for customers to buy into premium brands as a result of lowered price points. “Bridge-to-luxury brands are a segway for consumers who want to go up the ladder of the luxury world,” explains Anamika Khanna, whose bridge-to-luxury brand AK-OK, launched in 2019, entered into a 60-40 partnership with RBL last December. “Clothing and style are becoming a source of identity for younger Gen-Z consumers. Expression, freedom to choose the way you live, and who you want to be is the new zeitgeist. The BTL segment plays an important role here,” adds Khanna. For Tina Tahiliani, CEO of popular multi-designer store Ensemble, the premise (and thereby the reason for its boom) is simple: “Bridge-to-luxury has come up now than ever before as it makes the brand accessible to the masses, catering to a larger audience who wants to own a piece of luxury.”
The timing is definitely right to tap into a market that is only poised to grow. According to Euromonitor International, India's luxury goods market will be worth $8.5 billion this year, compared to last year’s $6 billion figure. As per another report by Retail Dive, India’s elite class is expected to grow from currently 10 million households to 26 million by 2025. Additionally, the overall average household income is expected to multiply by 1.7 times by 2025 too. “There is a market for everybody and everything. It is naïve to think that luxury will not dip its toes into other parts of the fashion stratosphere. This is a segment we are personally looking to have a lot of fun with in the coming years,” says couturier JJ Valaya who launched his BTL line JJV this March.