In an ambitious move that signals its intent to capture a share of the burgeoning luxury market in India, London-based fashion label Raishma has recently expanded its operations into the country through strategic partnerships with leading e-commerce platforms such as Nykaa Fashion, Myntra, Ajio, and Tata Cliq Luxury. The brand’s founder, Raishma Islam, shared with Inside Retail about the story behind the brand and elaborated on the strategic intentions driving their expansion into
to the Indian market.
Inside Retail: Could you share some insights about Raishma’s journey from its inception to its current position in the market?
Raishma Islam: I was always interested in fashion because of my mother. My early exposure to design and my British Asian heritage has influenced my design ethos and created the brand that Raishma is today. With launching my ready-to-wear collection in 2013 and introducing Raishma Studio in 2021, the brand has come a long way in expansion. I have been designing for 25 years and have worked with royalty and continue working with notable celebrities and influential people worldwide. Our pieces are made to treasure this has always been at the heart of the brand ethos. From the pandemic to the ongoing economic crisis, we have thrived and now sit with multiple retailers in the UK and Middle East and are about to launch in the US, India, Greece, Kazakhstan and Eastern Europe.
IR: What motivated the decision to expand into India? What are the reasons for this strategic move?
RI: Creating fusion-inspired styles very much was my catalyst. At the age of 10, I loved Indian silks and embroidery, and Bollywood films. Entering the competitive fashion industry being British Asian and wanting to create a fusion styling of East and Western influences was new and unheard of when I first started. Today, the brand has a loyal international clientele that loves what Raishma offers, which is a great fusion of modern silhouettes and elements of ethnic design. As Raishma grew and with the launch of Raishma studio in 2021, this customer base has only expanded over time. Considering this, I thought it would be the perfect time to launch Raishma in India for its proximity to the customer base and ease of buying. We now retail at Aza Fashions and Nykaa Luxe and are about to launch on Ajio and Tata Cliq in India.
IR: Why did you choose to partner with e-commerce platforms for the expansion? Will there be physical touchpoints in this market?
RI: E-commerce platforms provide more reach than physical stores especially in India in terms of limited exclusive platforms where you can browse collections by various brands on the same website. It’s mainly about visibility when it comes to choosing e-commerce platforms in India having partnered up with Aza Fashions, Tata Cliq, Nykaa Luxe, and Ajio. Adding to that, shopping behaviour has largely moved towards online shopping and more and more people prefer to shop online. This gives us the benefit of being on these platforms at the same time and being able to reach the Indian market that shops in this way. We aim to have physical touch points in India as soon as we do in the UK and our team is currently working towards that.
IR: Does the brand’s retail strategy change depending on the market?
RI: Yes, I think adapting to the market is one of the most crucial elements in retail. The retail strategy needs to be modified to fit the target market and how this resonates with the customers. For example, the retail strategy for the UK designed to work with all the other factors and challenges that retail presents here for the brand might be different in the Middle East or the US. Tailoring the retail strategy to the market’s needs is the key.
IR: After India, which markets does the brand plan to expand into or increase its presence?
RI: The Middle East has always been the main focus for international expansion. We have been retailing since 2020 on Ounass, an online luxury destination housing international designers and local Middle East brands. Ounass caters to Bahrain, Kuwait, Oman, Qatar, Saudi and the UAE. We also launched in Galleries Lafayette Doha in store this May and are now working towards another collection for September 2024. The brand would also like to expand in the US from Spring Summer 2025.
IR: Can you share some insights on the challenges that Raishma might face during this expansion?IR: The business previously impacted by Brexit, the pandemic, the cost-of-living crisis, and two wars have all had a massive economic impact on the UK and retail within six years. Despite this, the brand has grown since then. In terms of expansion, every market has different facets that might pose a challenge. To foresee a challenge that might apply to other markets we are expanding in, one issue I have faced before in the industry is overcoming the assumptions attached to the brand name; Raishma that led buyers to pass it as a complete ethnic brand. The strength of the brand lies in the product as it is so versatile and appeals to a broad international clientele. In regard to retailers, since we are a growing brand, we remain quite flexible which gives us an edge to diversify into different product lines. I am committed to making couture style accessible and promoting ethical fashion practices as we expand. Setbacks only fuel my determination to overcome challenges.