Luxury Goods

From rum-soaked leather to ambered elegance, carmakers are steering into the world of fine fragrance, creating perfumes that rival designer icons in depth and desire

Carysil is expanding beyond quartz and stainless steel sinks into built-in kitchen appliances and engineered surfaces

The 56th GST Council meeting on September 3-4 may decide on rate rationalisation, tax cuts on essentials, and compensation measures for states. All you need to know

Arthur Heilbronn is the son of Charles Heilbronn, founder and chairman of Mousse since 1991, who is a half-brother of Alain and Gerard Wertheimer, third-generation Chanel heirs

Nearly 99 per cent of items currently taxed at 12 per cent are expected to move to the 5 per cent slab, while most of the goods in the 28 per cent bracket would fall under the 18 per cent rate

The degree of domestic versus foreign contribution to the consumption of a nation's economy

'It could be counterproductive. PAN details were already required for purchases above Rs 2 lakh. TCS may discourage consumers, hurt GST collections from formal retailers, while benefiting grey market'

Earlier, TCS under Section 206C (1F) was applicable primarily to the sale of motor vehicles above ₹10 lakh

Luxury goods like handbags, wrist watches, footwear and sportswear, priced above Rs 10 lakh will now attract a 1 per cent Tax Collected at Source (TCS). The income tax department has notified the applicability of TCS at the rate of 1 per cent on sale of specified luxury goods, where the selling price exceeds Rs 10 lakh with effect from April 22, 2025. The TCS provision for luxury goods was introduced via Finance Act, 2024, as part of the Budget presented in July, 2024. The obligation to collect TCS shall be on the seller in respect of the notified goods such as wrist watch, art objects such as paintings, sculptures, and antiques, collectible items including coins and stamps, yachts, helicopters, luxury handbags, sunglasses, footwear, high-end sportswear and equipment, home theatre systems, and horses intended for racing or polo. Nangia Andersen LLP Tax Partner Sandeep Jhunjhunwala, said this notification operationalises the government's intent to enhance monitoring of high-value ..

Chinese suppliers and manufacturers have taken to platforms like X and TikTok to showcase their craftsmanship and offer direct-to-consumer sales at a fraction of retail prices

At BS Manthan, Hublot CEO Julien Tornare delved into what it takes to build a global luxury powerhouse, why authenticity and innovation matter, and whether India can create its own LVMH

E-commerce, travel retail, and rising consumer aspirations beyond metro markets are driving the surge in demand for luxury brands. Online sales from smaller towns have doubled compared to last year

The companies' renewed focus on more affordable products is meant to appeal to middle-class aspirational customers who are more price sensitive

"This is the first time the personal luxury goods industry has declined since the 2008-09 crisis, with the exception of the pandemic," Bain partner Federica Levato told Reuters

Decision comes as a win for the Biden administration ahead of the Nov 5 presidential election, in which rising consumer prices have become a top concern for voters

A US federal judge will decide whether to block the merger that was announced in August 2023, or allow it to proceed, decision could be expected anywhere between three weeks to three months

Around 25 international retail brands selling lifestyle and luxury products may enter India in 2024, say real estate consultants, strengthening demand for commercial property leasing. >

The industry provides jobs and helps manufacturing as the economy reaches an aspirational phase, they say at Business Standard summit

Deloitte's Global Powers of Luxury Goods rankings 2023 featured six Indian brands on the list of top 100 luxury goods makers globally

Quiet luxury is about investing in high-quality, subtle fashion pieces over logos and overt brand displays