The new brand will offer premium products, priced affordably between Rs 2,000 and Rs 3,500
Bengaluru: Bagzone Lifestyles Pvt. Ltd., the parent company behind the fashion accessories brands Lavie and Lavie Luxe, has introduced Lavie Signature, a standalone online-exclusive brand, according to a company press release on Friday.
Positioned between the Lavie and Lavie Luxe, the new brand will offer premium products, priced affordably between Rs 2,000 and Rs 3,500.
“With the rise of digital shopping and the increasing demand for mid-range premium products, Lavie Signature is our response to these evolving trends,” said Ayush Tainwala, chief executive officer of Bagzone Lifestyles. “We are excited to offer high-quality, stylish bags at an accessible price point, bridging the gap between premium and affordability.”
Lavie Signature products are exclusively available on online fashion marketplace Myntra.
The brand’s long-term objectives include broadening its product lineup and boosting its market share in the premium segment, the release added.
Recently, Lavie Luxe has forayed into the fragrance category with the launch of a new perfume line and earlier this year, launched a premium watch category. At present, Lavie offers up to 3,000 different stock-keeping units (SKUs).
At present, the Mumbai-based bag retailer operates over 120 exclusive brand stores including full-fledged stores as well as kiosks and is targeting to launch 50 exclusive stores every year. Read more about its expansion plans here.
In October last year, Lavie raised its first external funding of $9 million in a round led by First Bridge India Growth Fund, as per media reports.
