LUXURY IN INDIA:
According to industry experts, the luxury and lifestyle industry is going to touch USD 237 billion worldwide. India has always embraced luxury over the ages, with the Maharajas and the rich ’n famous having a penchant for the best.Today, with a leapfrogging economy, a growing list of millionaires & billionaires and a positive buzz about global luxury brands, the Indian market has reached it’s zenith, as far as luxury-lifestyle product are concerned. In India alone, with the entry of some of the biggest names in the luxury-lifestyle business, the demand for trained professionals is going to hit sky-high.
An AT Kearney Report has declared that the luxury goods market in India, is set to touch a mark of USD 14.72 billion by 2016. According to a recent study, it came to light that for an Indian luxury brand consumer, it is the urge to prove that ‘I have made it’, more than anything else while using a luxury brand.