India’s luxury market has great potential
Research firm Sanford C. Bernstein Limited released a report, India may in the next decade to become a major Asian luxury goods market.
The bank’s analysts have pointed out that India’s luxury goods market is relatively small, accounting for only 0.5% of total global demand, or less than 10 billion euros at current exchange rates equivalent to 1.36 billion U.S. dollars. But they then introduced the overall strength of the Indian economy and the luxurychanel purses
goods market untapped potential.
India’s new rich are spending unprecedented luxury, luxury goods makers from all senior happy to meet with their needs. Ermenegildo Zegna 2009 ad in the spring and summer with “The Pink City” Jaipur reputation for filming, thereby becoming the first opportunity to shoot an international advertising in the Indian men’s luxury brand.
In India, traditional customs and practices clearly hinder the promotion of luxury goods into Europe and the United States. Over the years, the capital of the heavily taxed imported goods (tariffs on imported watches up to 50%), rundown luxury retail environment makes difficult to find a foothold. Today was a great improvement over the situation, high-end stores springing tendency to break out. This substantial growth in the rich India was closely associated – most of them are in the age of 25 years of age. According to Bain & Company (Bain & Co.) Of a forecast, within the next three years, the Indian luxury goods market growth rate will reach 25%. In the past, in India, only the nobility could wear a Cartier jewelrylouis vuitton handbags
– today’s India has undergone tremendous changes. However, the sari as Indian women are still everyday clothes, in this country, but men are more important consumers of luxury goods customers – and in most countries the opposite situation.
Six in India’s most famous luxury brands, three brands from the local community, and to the main men. Survey, when asked about the most familiar brands, most people’s first reaction was men’s brand. Swiss watch business is the best in India for foreign luxury goods vendors. The Gucci is the only well-known to squeeze into the ranks of the top ten fashion brand. Marc Jacobs Indians heard only of the total population of 8%, Yves Saint Laurent’s performance is even worse, only 7% of Indians knew the name. As a sponsor of India Fashion Week, local fashion brand Wills Lifestyle’s stylish people on the ground and perhaps more familiar terms.
In the hot India, people put the shirt as a jacket to wear – this explains the popularity of Louis Philippe and the Crocodile, both well-known shirt manufacturer. Local high-end brands such as ParkAvenue, Allen Solly and Reid & Taylor is also popular for its men’s line and, although they also create dresses and traditional costumes. These brands will now install as a key reason is clear is that Indian weddings are the most important social activities.
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