Luxury in: India
Contactlab and Exane BNP Paribas new research series, “Luxury in…”, explores global luxury markets beyond China. We carry out both physical and digital analysis to assess where these markets stand and the opportunities they can provide to luxury brands looking for the “next big wave”.
India has been an unfulfilled promise for many years, because its great size makes it in theory one of the best candidate for the “next big wave” of luxury development. In practice, lackluster economic development, high import duties, significant barriers to entry and a mobile cohort of super-rich Indians have made the Indian luxury market relatively irrelevant.
It is nevertheless important to keep India on the radar screen, because the Indian luxury goods market is expected to grow at > 10% CAGR in the next five years.