The ever growing luxury market in India is lapping up the eyeballs of the luxury giants across the world, and the unorganized sector is witnessing a change that is quite noticeable, but it’s centered in two metropolitans, Delhi and Mumbai.
Though the recent studies claim the tier-II cities as the emerging luxury market but the fact in the status quo is that the Delhi and Mumbai are the main hubs and influence the luxury scenario in the country. The report in a leading daily claims that Delhi constitutes 50% of India’s luxury market in sales, followed by Mumbai which stands at 30%.
The Indian luxury market at $ 4.8 billion is not a preferred choice when compared to China as Indian consumers go for traditional options rather than Western wear. Though the market in the country is extremely strong but complicated laws, duties and taxes procedure besides the diverse tastes deter the International luxury brands aiming to penetrate Indian market.
The skinny on markets in Delhi and Mumbai highlights that the former rules the luxury market in the country where high end products are seen as the status symbol and price insensitive old money dominates the market.
