Winner, IMAGES Most Admired Retailer of the Year – New Market Penetration (Fashion)…
In a world where luxury fashion often remains confined to metro cities and elite districts, Image Fashion Forever dared to rewrite the rules. In FY 2024, the brand took a bold leap — launching a super-premium multibrand store in a Tier-2 city. The move turned heads, won hearts, and earned them the IMAGES Retail Award for Most Admired Retailer of the Year: New Market Penetration in the fashion category.
A Luxe Leap of Faith
“We weren’t just expanding — we were planting dreams in new soil,” says Arpit Agarwal, Co-Founder of Image Fashion Forever. “There was skepticism at first. Luxury in non-metros? But we saw the aspiration, the readiness, and the hunger for premium experiences beyond metros. And we went all in.”
And they were right. Customers didn’t just shop — they celebrated. Grandmothers posed with Armani bags, college students took selfies in Superdry jackets, and families proudly walked their friends through the city’s newest fashion landmark. The emotional resonance was powerful — and deeply personal.
A Strategy Rooted in Research
Before entering a new market, the team conducted in-depth studies of Tier-2 cities showing strong retail potential — rising disposable incomes, aspirational consumer behavior, and limited access to premium fashion. “We weren’t guessing. We were listening,” adds Anant Agarwal, Co-Founder. “We chose cities where people were already traveling to metros for high-end shopping. Our goal was to bring that experience home.”
The result? A curated brand mix with both global cachet and local relevance. From ultra-premium labels like Armani Exchange and Superdry (through a strategic partnership with RBL Brands) to regionally popular fashion essentials, each store was tailored to its market. Prime real estate, elegant design, and an emphasis on personalized service elevated the experience to metro standards — with a local soul.
Localized, Thoughtful, and Customer-Led
“Our marketing wasn’t about flashy campaigns,” shares Bharat Kaul, CEO of Image Fashion Forever. “We reached out through local communities, word of mouth, and smaller launch events. It was personal. People felt seen.”
One major achievement was ensuring consistent availability of popular SKUs, reducing lost sales and increasing customer satisfaction. “Inventory discipline turned out to be a superpower,” Bharat adds. “It helped us boost repeat footfall, improve billing, and made operations smoother for franchise partners and teams.”
Retail Numbers That Speak Volumes
The proof of concept didn’t take long. Sales in several Tier-2 locations surpassed even metro stores during key months. Of the new stores launched during this period, nearly 70% broke even within just 12–14 months — well ahead of projections. By the end of FY 2024, Image Fashion Forever operated 27 stores across 20 cities, clocking a turnover of approximately INR 40 crore. By March 2025, the brand expects to grow to 40 stores, 24 cities, and INR 60 crore in retail sales.
Introducing ‘Image Luxe’: A Game-Changer
FY24 also marked the debut of the Image Luxe concept — a large-format, high-end fashion destination housing premium international brands under one roof. This was not just a retail strategy; it was a statement of intent.
“Luxe was about redefining what a Tier-2 store could look and feel like,” says Arpit. “And the response was incredible — not just from customers, but from the industry as well. It repositioned our brand in the premium segment and deepened our connection with a discerning, upwardly mobile audience.”
“When we were planning to launch Image Luxe, a lot of convincing was required for the premium brands like AX and others to come to these cities and have faith in the Image Luxe concept. We are truly grateful to all the brands — AX, Superdry, GAS, Guess, La Martina, Levi’s, and many more — for being part of this journey. Also, a lot of our expansion across North India was driven by strong word of mouth through our franchise network. These partners have deep faith in us and played a big role in extending the Image network across regions,” — Bharat Kaul, CEO, Image Marketing & Fashion
Why This Award Matters
“This award isn’t just about numbers,” Bharat concludes. “It’s about the belief that aspiration exists in every corner of the country. That fashion is not the privilege of a few cities. We didn’t just expand — we created value. For customers who felt left out, for cities that felt overlooked, and for teams who believed in doing something truly different.”
And as the founders humbly put it — “We’re just getting started.”
