Business Bureau

The luxury market in India is riding high. According to industry chamber Assocham, luxury retail chains in India are expanding fast with more brands entering India.

Thanks to healthy economic growth, positive regulations and policies the luxury goods industry in India has evolved into a serious market.

This is attested by market research which says that the size of the Indian luxury market will grow into US$ 30 billion from the current US$23.8 billion in the next 2 years.

Rising exposure of Indians to international brands and high purchasing power of the people in tier II cities are catalysts boosting the growth of the Indian luxury market.

India is trying to emerge from the pangs of the early stage growth of the luxury market on the back of some pro-market policy initiatives.

Indian luxury Brands

India’s top-selling luxury items include watches, shoes, and apparel, beauty, automobile, handbags, fashion accessories, personal care products, and electronic gadgets.

Infrastructure hassles and lack of guidelines had been choking investments in luxury retailing in Indian markets. High Import duties and grey markets were adding to that dilemma.

However, some policy changes in recent years that encouraged full FDI in single-brand retail and rollout of GST have kindled hope and eased the future growth path of the luxury market in India.

Recently, the government of India gave nod to 100% FDI under automatic route for single-brand retail and broke many curbs on local sourcing norms. This eased the entry of many global retail brands and enhanced Indian consumers’ exposure to global brands.

The fastest growing niche in India is the affordable luxury brands at the rate of 40 percent per annum, outpacing all other segments. The study by Euromonitor International mentions many brands in the category including Michael Kors, Coach, Kate Spade, and Charles & Keith.

It is the luxury malls that serve as the hub of luxury brands enticing the elite customers. Mumbai, Delhi, and Bangalore are the three metros where luxury retailing is at the peak. However, things are changing with Tier 2 and 3 cities offering more opportunities. Leading retailers have realized a business opportunity beyond metros; soaring purchasing power in small cities is an incentive to brands.

Top 100 Luxury brands

India’s homegrown luxury brands are also earning global acclaim and acceptance. Top 5 Indian jewelry watch brands are part of the Top 100 Global Luxury Goods list. They include Titan, Kalyan Jewellers, PC Jewellers, Joyalukkas and Tribhovandas Bhimji Zaveri. Among the top fashion and luxury players - LVMH Moët Hennessy Louis Vuitton SE, The Estée Lauder Companies., Compagnie Financière Richemont SA, Luxottica Group SpA and Kering SA are at the top. Globally, the top 20 luxury product sectors enjoying high demand are clothing and footwear, jewelry and watches. Italy has maximum companies making luxury goods while French luxury goods companies are high on more sales.

Shop for Helios watches

Coming to the Indian market, luxury watch brands are enjoying expanding market shares. Rolex, Cartier, IWC, Breitling, Corum, Blancpain, Omega, Hublot, and Montblanc sizzle their elite appeal.

The millennium generation has got a wider platter of offerings. Helios, Cartier, Chopard, Bulgari, and Jaquet Droz are emerging favorites thanks to the impact of social media.

Corum is a Swiss watch high on technological advancements. The superlative technology is best expressed in the avant-garde Golden Bridge timepieces. IWC blends advanced American technology with Swiss craftsmanship. Cartier is known as ‘Jeweller of Kings and King of Jewellers’. Omega, the third largest Swiss watch brand has set many records on accuracy and is famed as the timekeeper of 21 Olympic Games.

World’s expensive clothing brands are also rocking the Indian market.

The labels include • Chanel • Burberry • Hermes • Prada • Gucci • Dior • Dolce And Gabbana • Ralph Lauren • Versace • Giorgio Armani

Channel bags and Louis Vuitton bags

Among the high demand international branded bags online India includes Guess, Gucci, Kalvin Klein, Michael Kors, Coach, Burberry, Tory Burch, and Lauren.

Entry of luxury branded jewelry like Tiffany & Co., Harry Winston, Caratti, Dia, Ganjam, Mirari Jewels, and Anmol Jewellery has enriched the niche.

Companies dealing in diamonds are blending products with Indian customs and traditions and they are eliciting a good response to sales and brand promotion.

Top Cosmetic Brands

Top luxury cosmetic brands having a good hold in the Indian market include Olay, Avon, L'Oreal, Neutrogena, Nivea, Lancome, Dove, Estee Lauder, Biore, and Shiseido.

Top Liquor Brands in Luxury Market

There is Jack Daniel’s, Chivas Regal, Crown Royal, Old Parr, Jameson, Ballantine's, Mcdowell's in whiskey while Vodka has labels such as Grey Goose, and Absolut.

Most Expensive Car brands

Many luxury car brands continue to excite Indian luxury buyers; Aston Martin, Porshe, Audi, and Bentley are expensive car brands in addition to popular brands such as BMW and Cadillac.

The future is quite bright for the Luxury market in India. The volume of business gracing websites like www.luxurystation.com reflects that luxury shopping in India has amazing potential.