Retail stores can definitely be setup with enough amount of capital. But the long standing relationships with brands is hard to create. This brand equity has lead to collection of Ethos exclusive brands. Although its not impossible to replicate, it tough. Plus its not big as a market as, say Jewelry is, to deploy capital and move the needle for very large corporates like Birlas or reliance
As far as Titan is concerned they have high value/premium brands but there focus is not on the luxury category which is the fastest growing are.
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