KIT: The luxury goods market in India

Strategic tools for the practising manager

The Indian luxury market is currently estimated to be $4.76 billion (Rs 21,712 crore) and is set to touch $14.72 billion (Rs 67,712 crore) by 2015.

It is growing at a reasonably fast pace and its emerging potential can be gauged by the increasing number of premium luxury brands entering India.

Luxury brands have their presence in big cities like Delhi, Mumbai and Bangalore. Currently there are two dedicated locations for luxury products — the DLF Emporio mall in Delhi and the UB City Mall in Bangalore — apart from stores in five-star hotels.

Categories such as automobiles, jewellery, watches and sunglasses are growing the fastest.

 

Micro-segmentation of the customer, right pricing for the Indian customer, and improvements in infrastructure can help the category grow faster.