A Look At Why India's Luxury Market Is Exploding Read more: http://articles.businessinsider.

com/2011-11-02/lifestyle/30349277_1_luxury-hermesgoods#ixzz1q9XYtAbe Meredith Galante and Julie Zeveloff|November 02, 2011|1,467|0 During the past year, the Indian luxury market has grown 20 percent, with the most growth among luxury products, according to a new report from global consultant management firm AT Kearney (via AFP). The jewelry, electronics, fine dining, and cars sectors have jumped the most, growing between 30% and 40% in the past year. Apparel, accessories, wine and spirits have continued a steady growth rate of around 25% to 30%. Overall, the country's luxury market reached $5.75 billion in 2010, including goods and services, the report said. The report said it expects growth in the luxury sector to continue as the space grows and the impression remains that India will be largely insulated from the turmoil in the global financial markets.

One major change in India's luxury market is that goods and services are no longer confined to the major cities of Delhi, Mumbai and Bangalore. Today, secondary cities like Chennai, Hyderabad and Pune collectively have more than 30 stores in luxury apparel, accessories, watches and personal care combined. Consumers have also become more conscious of global trends, and less focused on logo-driven brands. Digital media has also played an increasingly important role in high-end markets, the report said. Challenges, of course, remain. There's still relatively little "Indianization" of luxury goods, though there have been some attempts, like a line of saris announced by Hermes earlier this year. And "domestic production of luxury goods needs to be attempted," the report said. The report predicts another 20 percent growth in the luxury market next year.

Read more: http://articles.businessinsider.com/2011-11-02/lifestyle/30349277_1_luxury-hermesgoods#ixzz1q9XsLQ52

Read more: http://articles.businessinsider.com/2011-11-02/lifestyle/30349277_1_luxury-hermesgoods#ixzz1q9XfVbKP

http://www.fashionunited.in/news/fashion/indias-luxury-market-poised-for-major-growth060420111874 Indian luxury market.

Wednesday, 06 April 2011 The luxury market in India is growing and experts say, by 2015 a quarter of the luxury market will be between India and China. And the growth will continue to rise as disposable incomes grow. This was highlighted at a recent conference whose theme was: Luxury: Triggers for Growth. The fourth edition of the Mint Luxury Conference 2011 saw leaders of global luxury brands, top designers, policy makers and actors share their views on Indias luxury market. Setting the agenda for the rapid growth of the luxury market in India, the two-day event was attended by Maharashtras chief minister Prithviraj Chavan, film star Abhishek Bachchan, Emanuel Ungaro, Fulvia Visconti Ferragamo, Giovanna Vitelli and representatives of some of the worlds most successful luxury brands.

Each speaker discussed critical issues in Indian luxury business including trends, designs and highlighted the challenges and opportunities in the growing market. Santo Versace, Chairman Gianni Versace, spoke about Fondazione Altagamma looking to grow and strengthen their relations with India. Santo Versace is also the chairman of Fondazione Altagamma, which is a foundation of Italian luxury companies which has plans to start training programs to develop talent in the luxury goods manufacturing and management.

Between China and India you are looking at a quarter of the global luxury market in 2015.The growth in India between 2015 and 2020 will become even larger as more people come into the consumption curve. Nine million households will be targets for luxury or near luxury consumption. Nearly 42 per cent

of Indias wealthy households are in Delhi and Mumbai. Indian consumers really care about brands. Almost 22 per cent of Indian consumers try foreign products and brands, said Laxman Narasimhan, Director, Mckinsey.

India today produces a large proportion of handcrafted goods to the world and their market share is steadily rising. Foreign buyers dont look at India as a cheap source of supply. They think of India as a unique source of supply, pointed out Sunil Sethi, President, Fashion Design Council of India (FDCI). Nearly 3,000 Indian fashion designers with their prt weeks are ready to capture the world. In mens fashion week, we are the fourth in the world. India is a world class supply base. Many things in India become luxury just because they are branded. Todays luxury is about scale. Its high time India has a luxury brand of its own, he added.

With the Indian luxury market estimated to touch $30 billion mark by 2015 and the country aiming to become the worlds fifth largest consumer market by 2025, this conference surely struck the right chord in its target premium segment of a rapidly growing economy.

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6 People Who Represent Indian Luxury Market Bangalore: Six years ago, the press predicted that the Indian luxury market would be booming by the end of 2011 as India accounts for only 1 percent to 2 percent of the global luxury market which is just behind countries like Brazil and Poland. But analysts say that the Indian market for high-end goods will quadruple in the upcoming years. Lets meet the luxurious entities who drive the Indian luxury market.

Tikka Satrujit Singh

Tikka Satrujit Singh, Prince of Kapurthala, is the chief representative in Asia for Moet-Hennessy and advisor to Louis Vuitton, a French fashion house. Satrujit Singh spearheads the development of Louis Vuitton's business in India. He says in the context of what holds India back in luxury markets, that Poor infrastructure, high real estate costs and foreign direct investment (FDI) regulations create an atmosphere that is unattractive to many high-end brands. There are a lot of brands that are withholding investments, as told to knowledge.wharton.

His grandfather, Jagatjit Singh, the Maharaja of Kapurthala in Punjab was a traveler and very much fond of swords, turbans, suits and shoes, and elaborates traditional dresses as well. Now his grandson is

continuing the luxury trend through being a part of Louis Vuitton. There Singh Maharajas were huge patrons of luxury brands such as Cartier, Van Cleef & Arpels, Mauboussin, Jaeger LeCoultre, Louis Vuitton and Rolls Royce.

ncpa.cpl Summary: 1. In India, working places and stores are located near the Indian homes, while in America the houses are separate from work and grocery stores. Read more: Difference Between India and America | Difference Between | India vs America http://www.differencebetween.net/miscellaneous/difference-between-india-andamerica/#ixzz1q8mOyeNF 2. The way of living in America is expensive compared to India. 3. Education costs more in India than in America. 4. Food is cheaper in India. 5. You can have the best quality of medical care in America at a higher cost, with insurance to pay for the bills. In India medical care is cheaper, and usually paid by cash. 6. Wages in America is higher than in India. 7. Indian marriages are normally based on the social status of the families, while for Americans, it is based on their emotions. 8. Freedom is greatly enjoyed in America, while in India the government is given the top authority to restrict freedom among Indians. 2. The way of living in America is expensive compared to India. 3. Education costs more in India than in America.

4. Food is cheaper in India. 5. You can have the best quality of medical care in America at a higher cost, with insurance to pay for the bills. In India medical care is cheaper, and usually paid by cash. 6. Wages in America is higher than in India. 7. Indian marriages are normally based on the social status of the families, while for Americans, it is based on their emotions. 8. Freedom is greatly enjoyed in America, while in India the government is given the top authority to restrict freedom among Indians. Read more: Difference Between India and America | Difference Between | India vs America http://www.differencebetween.net/miscellaneous/difference-between-india-andamerica/#ixzz1q8mGRX4d Read more: Difference Between India and America | Difference Between | India vs America http://www.differencebetween.net/miscellaneous/difference-between-india-andamerica/#ixzz1q8mGRX4d