The Luxury Quotient Group (LQ Group) was created with the vision to host an innovative global online marketplace for full price pure play luxury brands. Starting with India, the LQ Group will be establishing an online B2B marketplace for luxury goods that will serve as a gateway to India. By year-end, the LQ Group intends to grow the number of global luxury brands in its online marketplace significantly, assuming the role of a disruptive innovator in a market that has tremendous untapped potential. Also, similar services will be launched in the Middle East and North America by the next year-end.
Luxury Quotient International Inc (LQI) has partnered with Gravitas Ventures Inc. (GVI), a wholly owned subsidiary of Gravitas Financial Inc. and a publicly listed Canadian financial services company. Gravitas Financial Inc. is an integrated financial and advisory services firm led by experts in financial and capital market services. Gravitas Ventures Inc. has made a strategic investment in Luxury Quotient International Inc (LQI). LQI will be operating an international distribution and online marketplace in the luxury market segment.
Vikas Ranjan, Executive Vice President of Gravitas Financial Inc and President of LQI visited India during the first week of October to formally launch business operations of the LQ Group in India. Apart from launching the LQ Online B2B marketplace portal for India, the Indian operations will also be focused on developing B2B relationships with the most reputable online fashion retailers followed by similar partnerships with select premium stores across India for physical distribution.
Deepak Kumar, the Managing Director of the Indian operations of the LQ Group is aiming for a leadership position in the premium and luxury segment over the next couple of years, through the Indian LQ Online B2B Marketplace Portal. The company is working towards creating a business model that combines high street luxury with an online eCommerce-through-marketplace model, and seeks to defy & alter current business beliefs as well as to change the landscape of Indian online e-commerce for the luxury market. Apart from launching its own LQ Online B2B Marketplace Portal, the LQ Group is also engaged in various stages of discussions with existing large fashion centric e-commerce portals in India and has already signed supply agreements with a top luxury hotel chain and a premium online fashion portal in India.
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