Neha Varma’s Post

Why are luxury brands like LV, Gucci, Prada, and Audi expanding so rapidly in India? Let’s take a closer look at what’s driving this trend! India’s economy and culture are creating a powerful pull for these global giants, and here’s why: 1️⃣ Economic Growth: India is now the 6th largest economy globally by GDP and climbing! This growth opens the door for more premium brands to enter the market and cater to a wealthier population. 2️⃣ Diverse Consumer Base: As the second most populated country, India is a goldmine for brands looking to tap into a variety of consumer segments. By 2025, India’s middle class is projected to reach 583 million—bringing luxury within reach for even more people. 3️⃣ Business-Friendly Environment: The government has made it easier for foreign brands to set up shop with relaxed FDI policies. India’s doors are open for business, making expansion smoother than ever. 4️⃣ Rich Cultural Influence: India’s unique values, customs, and aspirations make it a dream market for brands. From the vibrant wedding industry to the aspiration for luxury as a status symbol, international brands find countless ways to connect and resonate deeply with Indian consumers. These factors together are shaping India as a luxury hotspot, attracting brands that see the value of not just selling products but becoming part of the culture. As these brands expand, it’s fascinating to watch how they adapt to India’s diverse and dynamic market. #LuxuryExpansionIndia #IndianEconomicGrowth #DiverseConsumerBase #BusinessFriendlyIndia #CulturalInfluenceIndia #LuxuryHotspotIndia #GlobalGiantsIndia #PremiumBrandsIndia #IndiaMarketTrends #AdaptingToIndia

#LuxuryNuggets no 30: Today, #India is perhaps the only market which has elasticity, curiosity and the appetite to buy and value luxury compared to the slow slump in several other regions across the world. The State of Fashion 2024, (BOF x McKinsey) cited India as one of the most promising markets of this year. Bain and Company estimated that “The Indian luxury market could expand to approx. $200 billion, 3.5 times the size of today's market by 2030”. On the other hand, Euromonitor International projected the luxury goods market in India to grow to ₹82,186 crore by 2027, from ₹53,561 crore in 2022. #TheIncredibleIndianLuxuryBazaar Luxury Connect

India's Surge in Luxury Consumption Attracts Global Brands As India's economy grows rapidly, a new wave of affluent entrepreneurs and executives drives domestic luxury consumption to new heights. This trend, intensified by post-COVID behaviour and strict capital controls, has led to a substantial increase in domestic spending on luxury goods, ranging from high-end fashion to luxury automobiles. Highlighting this shift is the recent opening of Jio World Plaza in Mumbai, a sprawling retail and cultural hub that has become home to an impressive roster of 66 luxury brands, including Louis Vuitton, Gucci, Cartier, Christian Dior Couture, BALENCIAGA, Valentino, Versace, Tory Burch, RIMOWA, Pottery Barn, and Tiffany & Co. These brands, along with other global newcomers, are capitalizing on the growing market demand fostered by India's economic visibility and its prominent role on the global stage. HMC is strategically monitoring these developments to better understand the shifts in luxury consumption and how it might influence future collaborations and business strategies. This insight is crucial for aligning our efforts with the evolving preferences of India's affluent consumer base and ensuring our stakeholders and partners are well-positioned to thrive in this dynamic market. -------------------------- 🌍 A strategic partner for global tourism and luxury hospitality success.  🤝We enhance profitability and brand premium through Sales & Revenue Management, Integrated Marketing Communications, Asset Management, Operational Excellence and Learning & Development.  To know more: www.hmcenterprise.com #LuxuryMarket #EconomicGrowth #GlobalBrands #JioWorldPlaza #IndiaRetail #HMC #GlobalStage

📰What we’ve got our eye on this week… The next wave of fashion is on its way… and this time it's coming from the BRICS nations. India made a bold move at the recent BRICS+ Fashion Summit in Moscow, joining the newly launched BRICS International Fashion Federation—an initiative that promises to shake up the global fashion landscape by spotlighting emerging markets. With over 80 designers in attendance, including leading Indian talent, the event showcased Moscow’s rise as a style capital and cemented India’s growing role in shaping global trends. We also talk about: 2️⃣ Indian couturier Tarun Tahiliani’s new luxury prêt line, OTT, debuted with Nexa, Maruti Suzuki’s luxury automotive brand, at Lakmé Fashion Week. 3️⃣ Vogue India’s ‘Power of the Runway’ exhibition in Mumbai showcased 40 designers this month, emphasising the importance of archiving in Indian fashion. 4️⃣ India’s luxury watch market thrives as Swiss timepieces see a 20% export surge in 2024, reflecting rising demand. 5️⃣ Beyond luxury: Jio Financial teams up with BlackRock for a private credit venture, while Myntra’s festive sale sets records with 1.5 million new customers. 🚀 Want more insights? Subscribe to IndLux Newsletter @ www.indlux.co #BRICS #TarunTahiliani #LuxuryFashion #VogueIndia #LuxuryWatches #JioFinancial #Myntra

📈 Embracing Premiumization: The Booming Luxury Industry in India India's luxury market is on a meteoric rise, fueled by a growing affluent class and an increasing appetite for premium experiences. By 2025, the luxury market in India is projected to reach $200 billion, showcasing a robust CAGR of over 10% from 2020. Key drivers? A young, aspirational population, rising disposable incomes, and a penchant for global brands. Notably, India's millennials and Gen Z are steering this growth, investing in high-end fashion, gourmet foods, luxury automobiles, and exclusive travel experiences. A few examples: 1. Tata Group's acquisition of a majority stake in Zegna and Caran d'Ache reflects its strategy to cater to the luxury segment. And now, with manufacturing Rolls-Royce in India 2. Reliance Brands Limited has collaborated with iconic global brands like Tiffany & Co. and Cartier tapping into the premium segment. 3. Homegrown brands like Outhouse Jewellery, Nappa Dori and MISHO are gaining global traction, blending Indian craftsmanship with modern luxury. Opportunities abound for businesses to innovate and cater to this segment. With a penchant for bespoke experiences and high-quality products, the Indian luxury consumer is ready to splurge. The time is ripe for brands to ride this wave of premiumization and create a lasting impact. The time is now! #LuxuryMarket #IndiaRising #Premiumization #BusinessGrowth #LuxuryBrands #EmergingMarkets #IndianEconomy #Innovation ---

Global luxury brands are focusing on India's market for a number of reasons including : ✨ Growing affluent population : India's affluent class is expanding rapidly, and consumers are increasingly willing to spend on luxury goods. ✨ Rising Disposable Incomes : The middle class's economic rise is being driven by the expansion of professional industries and the emergence of dual-income households. ✨ Shift Towards Premium Products : Consumers are becoming more conscious of foreign brands and trends, and are eager to invest in luxury goods that are exclusive and high quality. ✨ Cultural Richness : India's cultural richness is a key factor in its appeal to luxury brands. ✨ Evolving Consumer Tastes : Luxury brands are tailoring their offerings to suit Indian preferences, such as designing collections inspired by local culture. India's potential as a major luxury consumption hub is no secret now. India's luxury market is projected to grow significantly, with consumer spending on luxury goods forecasted to reach $32 billion by 2030. India's retail sector is growing rapidly, providing avenues for the rapid growth of the luxury segment. The aspirational middle class, exceeding 350 million people, is growing their disposable incomes by more than 8 % annually, driving demand for premium experiences and products. This "Emerging Elite” is young, global in outlook & tech savvy. More than 65 % of India’s population is under 35, making it one of the youngest & most promising luxury markets in the world. #India #Elite #Fashion #Luxury #Lifestyle #Apparel #Footwear #Leather #Watches #IndianWedding #IndiaHNI #GlobalBrands

India's luxury beauty market will quadruple by 2035 according to a new report by Kearney and LUXASIA. With a projected CAGR of 14%, India stands out as one of the fastest-growing luxury beauty markets globally. This surge is fuelled by overall economic development, an expanding middle class, and increasingly sophisticated consumers who are eager to indulge in premium beauty products. Karan D., Partner at Kearney's Consumer Industry and Retail Practice, says: "India's luxury beauty market is at a pivotal moment. Brands that strategically navigate its complexities will not only establish a strong foothold but also cultivate lasting relationships with a new generation of luxury consumers." However, the path to success in this market is not without challenges. India's vast geography and ethnic diversity create divergent consumer preferences across regions, necessitating tailored, localised strategies. Brands must also navigate complex operational and regulatory landscapes. Satyaki Banerjee, Group COO of Luxasia, adds: "Growth is expected to come with a sharp inflection point. Brands need to be present in-market prior to these sudden spikes." For beauty brands eyeing global expansion, India presents a compelling opportunity. Those who invest in understanding the unique Indian consumer and its dynamic ecosystem will be best positioned to reap the rewards of this flourishing market. #India #Indianbeauty #Beautymarket #Localisation #Beautynews

The luxury market in India is surging, and it's an exciting time for D2C brands. As more people seek unique and bespoke experiences, these brands have a fantastic opportunity to shine with their exclusive, sustainable, and customized products. The trend of digital transformation is also levelling the playing field, allowing smaller brands to compete with the big ones online. Exciting times ahead for the luxury and D2C market in India! 🚀 #LuxuryMarket #D2CBrands #DigitalTransformation #SustainableProducts #UniqueExperiences #IndiaBusiness #Entrepreneurship #Innovation

While we complain about the budget and taxes on social media, we're still buying luxury items. India's luxury market is booming!🤯💰 A recent Deloitte report reveals that, the Indian luxury goods market is projected to soar from $7 billion today to an astonishing $30 billion by 2030. 🚀 📌60% of consumers spend on luxury goods annually, including luxury leather goods, eyewear, watches, jewelry, fashion, and cosmetics. 🛍️ 📌Notably, nearly 30 per cent of these consumers spend more than Rs 120,000, which is roughly $1,440.8. 🤯 Key Factors Driving Growth 📈 🇮🇳Thriving economy driven by Consumption, rise in disposable income, and global exposure through Travel and Social media 🌍 👫Young Consumers: Millennials and Gen Z are prioritizing luxury experiences, including: - Premium timepieces ⌚️ - Limited edition sneakers 👟 - High-end car rentals 🚘 🤝Swiss-India Free Trade Agreement: This agreement aims to reduce customs duties, creating opportunities for Swiss watch exports in India. 🇮🇳🇨🇭 💼 Positive Business Climate: India's improving market conditions make it attractive for Swiss watchmakers.⌚️ Pascal O Ravessaoud, vice president of Fondation Haute Horlogerie, states, "The opportunity for watch brands to invest in India is now." Evolving Trends 📊 - Sustainability: Consumers increasingly demand ethical and sustainable luxury products. ♻️ - Digital Transformation: Luxury brands are enhancing online experiences to engage younger audiences. 📲 📌What can retail Investors do? - Emerging markets: Focus on luxury brands expanding in India and Asia. - Sustainability initiatives: Brands adopting eco-friendly practices will resonate with consumers. The luxury market's evolution is not just a trend, it's a significant shift in consumer behavior. 💯 #luxury #luxurymarket #retail #luxurybrands #india

How do you keep a brand feeling exclusive and cool at the same time? 🤔 Brands like Calvin Klein have been killing it in India, balancing that fine line. It's like, they're making luxury feel accessible without being basic. Any thoughts on how other luxury brands can pull this off? Let's chat! 💡 #luxuryfashion #brandbuilding #calvinklein #india #retaillife #businessstrategy