Paytm might make buying luxury items from Gucci, Burberry easy for you

Paytm is bringing all luxury brands on your smartphone through its mobile luxury platform-Anasa.

As per a report by ET, Paytm is roping in high-end brands such as Gucci, Fendi, Burberry and Furla for Anasa, which will a luxury mall.
However, Paytm spokesperson has not confirmed any such reports.

Sources told ET that Paytm is approaching Indian retailers of luxury brands.

Online luxury buying is still not explored much due to various challenges such as validating authenticity of brands, etc.

Last year, Snapdeal bought Exclusively.com that retails creations of Manish Malhotra, Tarun Tahiliani, Rohit Bal, JJ Valaya, and Ritu Kumar.

Euromonitor International stated that the Indian luxury goods market is expected to more than double in five years to Rs 390 billion by 2020 from Rs 163 billion in 2015, growing 19 per cent year on year.

(Image: Reuters)