IMPRESSIONS from a Cross-section

The current market size for luxury products in the country is around USD 1.5 billion. A regression based on India’s GDP per capita and Number of HNIs, indicates that the size of the Indian luxury products market should have been around USD 3-3.5 billion. This implies that there is a latent demand of almost USD 1.5-2 billion. As percentage of the current market size, India’s latent demand is estimated at 120-150% while for China it is estimated at only 10-15%. (A.T. Karney report'10)

Sentiments are positive and there is willingness to spend on high-end luxury products. If the current economic conditions remain the same in India, luxury retail will see a rise.

India, as a market, is seen as a key economy for all International brands which also explains the influx of brands in the Indian market. The audience in India is out going, have the power of money, well traveled and fashionable. The focus from just dressing to power dressing has been clearly seen, increasing number of customers are spending more to get quality, international styles, up to date trends and brand names. The future is only bright from here on.

The customer today is definitely more aware about fashion. More focus on design, detailing, and high quality are being paid.   Blues Clothing Company has established a reputation of successful Indian partners to International luxury brands. To take this legacy forward, we have branched out into Blues Home- a one stop shop for all interiors segment requirement, to tap into the growing requirement and trend of shopping for luxury home furnishings.

An ‘A-list’ Indian is well informed and exposed.  They demand the finest quality and experience while buying a luxury product for their home or office. The emphasis on design, craftsmanship, celebrated heritage and style are the expectations from luxury brands. Versace has seen an enthusiastic response and appreciation for the collection which stands for excellence in craftsmanship.

Spending traits vary from city to city for example;

Delhi - Its high GDP and spending trend is the biggest market in the country. Booming suburbs also add to the high market share. Ostentatious in nature, the market is driven by exhibiting their purchase and luxury products act as a status symbol. These aspirational needs drives the market to heavy spending on luxury, complimented by an extremely affluent region with ready money to spend makes Delhi the top market in the luxury segment.

Mumbai – Accessories are fast moving, influence of bollywood adds to the buying behavior. Being the corporate Mecca as well as the concentration of Indian Film industry, leads Mumbai to be an exciting and flourishing market with Glamour and Luxury synonymous to lifestyle of many. Corporate honchos contributing to market that delivers high standard of quality and celebrities committed to glamour and style, irrespective of the price tag. Mumbai is a highly lucrative as well as a fast-paced, fast-growing market.

Bangalore - has strong influences of its NRI population, Younger generation with high income levels.

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