BENGALURU, India, May 17, 2022 /PRNewswire/ — The first-of-its-kind Parcos Select is now launched at Prestige The Man Store, which started off in 1956 as Prestige House for Men, as a 600 sq.ft store on Commercial Street. Today the store is a sprawling 20,000 sq. ft & consists of clothing, bespoke tailoring and accessories extending over seven, precisely curated levels. Prestige Fashions Pvt. Ltd. is the umbrella organization with all activities directed by Noaman Razack whose father Razack Sattar, a visionary and innovator, far ahead of his time, founded the original establishment.
The current distribution of Luxury Beauty brands is experiencing a shift from being predominantly available across departments and lifestyle stores to going digital with a part of audiences shifting to online buying for convenience. Luxury brands will still seek formats like Parcos or stand-alone stores in order not to achieve width in distribution. For luxury beauty, it is essential to be available at all relevant travel points in order to extend the ease of shopping in the right ambience & location.
Parcos has established its presence with 46 own brick-and-mortar stores, servicing customers in major Metros like Mumbai, Delhi, Bengaluru, and Tier-2 cities like Cochin and Ludhiana. The plan is to expand further from bigger metros and airports to even smaller ones such as Guwahati, Siliguri, Coimbatore and the like, thus being available to international travelers as well.
Over 50 new brands will be onboarded this year, Parcos plans to expand its base to 100 stores by the end of 2023 by redefining luxury across a strategically planned variety of Select & Luxe store formats.
In order to facilitate this, Parcos has developed a 3-tier calibration of formats –
Parcos Luxe – housing the more exclusive & high-end range of brands
Premium Select – housing the premium range of brands
Parcos Beauty – housing the masstige range of brands
Clear elements distinguishing each tier from another will encompass Storefront, Layout, Visual merchandising, Aesthetics, Customer Flow, Consumer Touchpoints, Creation of Experience Centre, Lighting and 3–Axis Differentiation.
“Prestige The Man Store houses everything from exquisitely crafted suits, stylish casual wear, chic formal wear, elegant ethnic wear, and accessories for men. Having been in the menswear sector since 1956, we have changed the outlook of menswear fashion in Bengaluru. This association with PARCOS was to ensure we cater to both men & women’s fragrances while ensuring consumers receive an exclusive luxury retail experience. We ensure consumers are delighted at all touchpoints.” said Noaman Razack, Director, Prestige Fashions Pvt. Ltd.
Considering both Parcos Select & Prestige The Man Store have a similar target consumer, this association will add tremendous value to both brands as well as to the end user. This association provides the customer with a uniquely holistic experience of bespoke selection of clothing, accessories and grooming all under one roof.
Prestige The Man Store was an apt fit for Parcos as both share a similar philosophy with the approach that as the city grows and lifestyles become more and more diverse, customers need to be offered the best in product and service.
The Parcos Select Store at Prestige The Man Store will house an extensive selection of international luxury brands like Carolina Herrera, Gucci, Issey Miyake, Versace, Paco Rabanne, Dolce & Gabbana and more.
Biju Antony, CEO & Executive Director, Baccarose Perfumes and Beauty Products Pvt Ltd, said – “With over 50 new brands being onboarded this year, Parcos plans to expand its base to 100 stores by the end of 2023 by redefining luxury across a strategically planned variety of Parcos Select & Luxe store formats. The initiative of the Parcos Select Store Format aims to aid us garner penetration across multiple doors & avenues, in turn building Parcos as a brand & making it accessible to a larger audience. Having a thorough understanding of our target Consumer, an elite male consumer who gives priority and would appreciate the combined bespoke experience from the world of fashion, lifestyle & grooming; we felt that Prestige The Man Store is a perfect fit for Parcos. Whilst online consumption is growing at a rapid pace, we feel that consumers will prefer to buy beauty brands through such specialty store formats, simply due to a more holistic & experiential approach keeping in mind that this category of products needs to appeal to the user’s senses through a 360 degree touch & feel experience.”
Established in 2004, Parcos has been synonymous with luxury & prestige, designed to be a one – stop shop for authentic luxury beauty brands in India. Parcos strives to give the Indian consumer the experience that is required for storytelling when experiencing luxury brands across fragrances, skincare & makeup.
Some key Milestone for Parcos include –
- 2004 – 1ST PARCOS STORE
- 2010 – 3 STORES IN METROS
- 2012 – 2015 – Exclusive rights to sell premium beauty brands at duty paid domestic airport stores
- 2016 – 25 STORES ACROSS 10 CITIES
- 2020 – Pan India presence with 46 stores servicing customers across Metros, Tier-1 and Tier-2 cities
- 2021 – LAUNCH OF PARCOS.COM
- 2023 – 100 STORES ACROSS INDIA