India's luxury market is on the cusp of a significant transformation, says a recent report by Barclays. While it currently contributes only around 2 per cent to global luxury sales (as of May 2024), the market is projected to grow at a compound annual growth rate (CAGR) of 15-25 per cent in the next seven years, reaching €23 billion to €38 billion. This optimistic outlook is getting a boost due to several key factors.
Growth drivers, a perfect storm
Several factors are propelling India's luxury market. Top most is a thriving middle class that is expanding rapidly, with a growing number of millionaires, who present a significant consumer base with an appetite for luxury goods. Major cities like Mumbai, Delhi, and Bengaluru are at the forefront of this trend, housing 90 per cent of the nation's luxury retail infrastructure. Moreover, India's robust economic growth, projected at 7-8 per cent in the coming years, translates into increased purchasing power. A growing aspirational middle class with a taste for finer things is also driving demand for luxury products.
China vs. India, a tale of two titans
While India's growth is promising, it's important to compare it to China, the current king of luxury consumption. In terms of market share, China currently holds 35 per cent share of the global luxury market, dwarfing India's 2 per cent. China also boasts of a much larger affluent population compared to India. China's luxury market is more mature, with a well-established infrastructure and a strong brand presence. There are crucial distinctions to consider. Unlike China, India has a vast income disparity. This, along with limited retail space compared to its massive population, creates challenges for widespread luxury adoption.
However, Barclays' report also highlights a changing consumer behavior towards luxury goods in India. There's a growing emphasis on experience and heritage, alongside the traditional focus on brand names. This is evident in the growing interest for vintage and repurposed jewelry, reflecting a sense of nostalgia.
Meanwhile, international luxury brands are keenly aware of India's potential. Many are already establishing a strong presence in the country, recognizing the vast opportunities it presents. However, they must adapt their strategies to cater to the unique preferences and cultural nuances of the Indian consumer. As Manoj Kumar, Managing Director and CEO of Aditya Birla Fashion and Retail Limited (ABFRL), which partnered luxury designer Tarun Tahiliani, explains, "The Indian luxury market is witnessing strong growth, and there is a growing demand for designer wear.” This sentiment is echoed by other global brands entering or expanding their presence in India.
While India might not replicate China's dominance in the luxury sector overnight, its growth story is undeniable. With a booming economy, a growing middle class, and evolving consumer preferences, India's luxury market is poised for significant expansion in the coming years. However, brands must be mindful of the existing challenges and tailor their approach to resonate with the discerning Indian consumer.

Renowned global apparel retailer under Fast Retailing Co, Uniqlo has unveiled its much-anticipated spring/summer 2024 campaign tailored specifically for the Indian market. Dubbed 'Summers are for Linen', the campaign features the popular actor Katrina Kaif.

In this campaign, Kaif will endorse Uniqlo's linen collection, showcasing an array of breathable and lightweight garments including shirts, cotton tapered pants, jumpsuits, and more.

Kaif states, in scorching summers, it's essential to opt for fabrics that are both breathable and lightweight. Uniqlo's linen collection ensures comfort and coolness throughout the day. The collection is also versatile and offers timeless style suitable for any occasion – whether it's work or leisure."

Nidhi Rastogi, Marketing Director, Uniqlo India, adds, complemented by Katrina's timeless charm and elegance, the versatility of the linen collection is expected to strike a chord with the company’s diverse customer base.

The campaign rollout will encompass various media channels, spanning print, digital, outdoor advertising, and in-store promotional materials, ensuring widespread visibility and engagement among consumers.

Esteemed women's luxury apparel and evening wear brand hailing from the US, Mac Duggal has forayed into the Indian market with the unveiling of its exquisite Spring Summer 2024 collection.
In a strategic move, Mac Duggal has forged partnerships with esteemed multi-brand outlets such as Aza, The White Crow, and Ogaan, aligning itself with the discerning tastes of Indian fashion aficionados.
Duggal emphasises, the Spring Summer '24 collection epitomises couture craftsmanship, offering an eclectic ensemble that celebrates diversity and inclusivity. With flattering silhouettes designed to cater to every body type and age group, the brand aims to empower women to embrace their individuality with confidence and grace.
Established in 1984 amidst the dynamic landscape of Chicago, Mac Duggal has solidified its presence across more than 50 countries, cementing its reputation as a trailblazer in the realm of luxury fashion. With this foray into India, the brand seeks to captivate the discerning tastes of the Indian clientele, while staying true to its ethos of timeless elegance and sophistication.

Raghavendra Rathore Jodhpur (RRJ) is launching its Spring Summer 2024 collection at a Bespoke Preview on April 19th and 20th at the Ritz Carlton Pune.
This new collection blends heritage and modern design, with a focus on timeless elegance and versatility. It features classic Indo-Western pieces like Jodhpuri Bandhgalas, waistcoats, kurtas, and achkans, all crafted with a fresh, contemporary twist. The collection caters to the discerning modern client who values personal style over fleeting trends.
Each piece is designed for various occasions and destinations, ensuring both ease and adaptability. The bespoke offerings extend to handcrafted accessories like buttons, cufflinks, and pocket squares, allowing for personalized touches.
The Spring Summer 2024 collection stays true to RRJ's DNA, featuring sharp cuts and meticulous textures that elevate traditional elements. These garments are more than just clothing; they are personal statements that exude effortless grace.

21 October 2023, Mumbai

Good Glamm Group's Brand Aims to Empower Individuals to Embrace Their Natural Beauty While Making Conscious Choices for the Planet
Organic Harvest, a division of the Good Glamm Group, has launched a new makeup range made of certified organic ingredients. The brand has also launched a digital video campaign featuring the famous actor Nimrat Kaur to promote this new line.

Highlights

Its aim at Organic Harvest is to help people celebrate their natural beauty while also making mindful choices for the planet’s well-being.
The new makeup range includes a variety of products, including matte lipsticks, matte liquid lipsticks, BB cream, matte compact, kohl, and liquid eyeliner. All of the products are made with certified organic ingredients, which are grown without the use of harmful pesticides and herbicides.
The brand is hoping that its new makeup range will appeal to consumers who are looking for clean and sustainable beauty products. The brand is also targeting consumers who are looking for products that will enhance their natural beauty.

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In a bold stride redefining festive fashion, Apparel Group's homegrown brand, R&B has launched its exclusive 'Festive Collection' across 109 stores in the GCC region. This launch signifies a pivotal moment in the fashion landscape, seamlessly blending traditional grace, modesty, and contemporary flair to cater to women, men, and children alike.

Epitomising the spirit of Ramadan, the R&B Festive Collection embodies its values through meticulously crafted fashion pieces catering to the entire family. The collection's refined, modest designs, graceful flowing silhouettes and intricate detailing exude the beauty of the season. Men's fashion takes a stride forward with textured shirts seamlessly merging comfort and style, ensuring an impeccable look for every festive occasion. Simultaneously, the children's line showcases adorable designs brimming with personality, capturing both charm and style.

This collection serves as a testament to R&B's innovation in fashion, offering a diverse array of styles ensuring customers are impeccably dressed for every festive moment. From dazzling accessories to trendy footwear, the Festive Collection provides the perfect finishing touches to any ensemble, reaffirming R&B's commitment to delivering comprehensive fashion solutions.

Neeraj Teckchandani, CEO, says, the collection represents a stride forward in the brand’s journey to surpass customers’ expectations, ensuring each of them discovers something resonating with their personal style and the festive spirit.
The Festive Collection is currently available in stores and online at www.randbfashion.com.

17 October 2023, Mumbai

CMAI Achievers Club features winning strategies of D2C brands for 300% growth.
Indian D2C brands succeed by being customer-oriented, expert, and strategic. They optimize their supply chains, e-commerce, and customer experience.
They also manage product quality and returns well. To compete with big brands, they focus on quality and market segmentation. Social media is key for engaging customers and telling stories. But D2C is not the only way to win.

Other options like retail or partnerships can also work
Discounts can help, but creating valuable content and having a long-term vision are more important. Brands need to understand how discounts work in marketplaces. Hero products are vital for marketplaces, while D2C websites can mix them with new arrivals.
Entrepreneurs can use easy platforms to build their online presence. A brand is more than a name; it is a story and an experience.
Marketing and branding are linked, but marketing covers pricing, distribution, and advertising, while branding creates a unique identity and loyalty. A brand name matters because of the effort behind it.

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