The Landmark Group, the largest retail conglomerate in the Middle East, is shutting outlets of its fast fashion brand Splash in India.
Fast fashion is clothing mass-produced by retailers in response to runway trends.
The Dubai-headquartered Landmark Group currently operates several retail chains in the country, including Splash, Home Centre, Max and Lifestyle. Splash is one of the most popular fast fashion brands in the Middle East and has 18 stores currently operational in India. It competes with fashion and apparel brands, such as the ones from the houses of H&M and Tata’s Trent.
“As a brand, Splash never really took off in India because of its slightly premium pricing. In that space, it had to compete with several established brands. Currently, affordable fashion brands are doing well for most retailers as a large majority of Indian consumers are following global fashion trends but are unable to spend big bucks at the store. That’s the reason Landmark has turned its attention on brands such as EasyBuy, which has a cheaper price tag,” said a senior industry executive.
Even Spanish fashion brand Zara’s India partner, the Tata Group, is currently focusing on opening hundreds of stores that will sell extremely affordable fast fashion in India, at nearly half the price of what Zara sells.