Premium in India , Mass in the World
The old story of people travelling abroad in India for some premium brands or depending on the smuggled stuff is about to be a myth soon .The makers of luxury goods have officially flocked to India. You can find upmarket outlets in all major metros. So whats up for grabs and whats the operating play and future , here's our reading : This global market was estimated at approximately $69.4 billion in 2003 and is expected to grow 42 per cent to reach a whopping $100 billion by 2008. A Technopak study puts the Indian luxury market at around $444 million .( source from the net ) In terms of numbers, O&M says there were 61,000 high networth individuals (HNIs) in India in 2003. The World Wealth Report puts HNI growth in India at 14.6 per cent per annum, nearly double the global rate. ( source from the net ) A luxury brand is all about image; the product does not matter so much , how its presented and retailed and how its unique than the rest is what makes it different .Luxury brand