A number of top UK brands have embarked on a first-of-its-kind fashion and beauty trade mission to India this week.
- Lush and John Smedley among UK brands joining India’s Fashion Forum 2023, the nation’s largest fashion retail intelligence event.
- First-of-its-kind delegation looking to capitalise on Indian demand for high-class beauty and fashion products.
- Sales mission comes as UK and India negotiate a free trade agreement to create further opportunities for British brands.
Top UK brands are this week travelling to India on a mission to capitalise on its rapidly growing demand for high-end fashion and beauty products.
A delegation including British success stories such as Lush and luxury knitwear brand John Smedley will travel to India Fashion Forum 2023, the nation’s leading international trade fair, in Bengaluru.
The trade mission is the first of its kind and has been organised by the Department for Business and Trade to help British brands showcase their expertise in luxury, heritage and innovation to potential buyers and distributers.
Business and Trade Secretary, Kemi Badenoch said:
India’s growing economy and middle class represents an enormous opportunity for enterprising UK companies looking for new markets.
Removing barriers to business and boosting exports are two of my top trade priorities and I’m eager to make it easier and faster to do business with India through the free trade deal we’re currently negotiating.
India is set to become the third largest economy by 2050, by which time it will have a middle class of 250 million consumers.
According to the Robb report, in 2021, the Indian luxury goods market was valued at over $5 billion, and is expected to grow by another 10 percent over the next five years.
Managing Director, MENA Lush Fresh Handmade Cosmetics, Anita Baker said:
Lush is very happy to take part in this trade mission and we’re confident that in India, with its deep roots in natural cosmetics, we can find a partner that lives our ethics.
India has the opportunity to be a very sizable market and we aim to give our Indian shoppers the amazing customer experience they expect from visiting our shops around the world.
Global Sales Director, John Smedley Ltd, Bill Leach, said:
As India is one of the fastest growing luxury markets in the world, we are very excited to be attending the Fashion Forum as part of the trade mission.
It is hoped that the UK-India Free Trade Agreement that is currently being negotiated comes to fruition in the coming months, so that a growing number of discerning luxury consumers in India will enjoy greater access to The World’s Finest Knitwear.
Negotiations continue on a forward-facing trade deal with India, with the nations already enjoying a current trade relationship worth £34 billion to year end September 2022.
The deal, expected to boost the UK economy by billions over the longer term, is part of the UK’s strategy to forge stronger partnerships with fast-growing economies in the Indo-Pacific.
The UK wants an agreement that slashes barriers to doing business and trading with India’s £2 trillion economy and market of 1.4 billion consumers, including cutting tariffs on exports for British businesses such as Lush and John Smedley.
- The UK and India currently enjoy a strong trade relationship, with bilateral trade at £34 billion (year to Q3 in 2022). Our investment relationship supports over half a million jobs across both economies.
- India accounts for 1.7 per cent of total UK exports and is the 12th largest UK export market in the four quarters to the end of the third quarter of 2022.
- The Indo-Pacific region represents 40% of global GDP and has some of the world’s fastest-growing economies.
Companies attending the fashion and beauty trade mission include:
Lush – www.lush.com
John Smedley Limited – www.johnsmedley.com
Wormser – www.wormsergroup.com
Raishma Ready to Wear Ltd – https://raishma.co.uk
Organic Apoteke – www.organicapoteke.com
Lilly and Sid – www.lillyandsid.com
Legology – https://legology.co.uk/
Benny Hancock – www.bennyhancock.com
VENIA Cosmetic Ltd – www.veniacosmetic.com
Jennifer Young Ltd – www.beautydespitecancer.com
ByErim Ltd – www.byerim.com