Luxury Goods

Scent-sational road: Engineering excellence meets master perfumers

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

Is Carysil your next growth stock? Anand Rathi says 'Buy', 28% upside eyed

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

GST Council meet Sept 3-4: Rate cuts, rationalisation on the agenda

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

Chanel owners lean on 38 yr old Arthur Heilbronn to manage their billions

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

GST overhaul: Most items to attract 5%, 18% tax; luxury goods may touch 40%

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

Manufacturing reality: Domestic vs foreign consumption gets more complex

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

1% TCS on luxury goods: FAQs, items covered under it & what experts say

'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'

From watches to horses: Now, 1% TCS on luxury goods over ₹10 lakh

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

Luxury goods above Rs 10 lakh will now attract 1% TCS, says I-T dept

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 ..

Birkin bag for $1,400, Lululemon for $6: China's clapback at Trump tariffs

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

Is India next luxury superpower? Hublot CEO bets on strategy, innovation

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

Gucci, Louis Vuitton sales skyrocket in Tier-II, III cities as demand rises

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

Luxury brands bulk up on low-priced products for middle-class shoppers

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

Global luxury sales to fall 2% in 2024, among weakest years on record: Bain

"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

US court blocks Tapestry's $8.5 bn acquisition of rival Capri; win for FTC

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

US antitrust trial in Tapestry bid for Capri ends, decision awaited

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

These international luxury brands will soon open in India

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. >

BS Manthan: Luxury industry helping in India's economic growth, say experts

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

This brand beat Titan to lead as India's luxury goods maker on top 100 list

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 explained: The old-money aesthetic that took over 2023

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