India Luxury Market is Projected to Reach USD 15 Million by 2016

Date: 2015-08-13

India is fast becoming a leading luxury goods market in the world. The luxury market in the country is growing at a CAGR of approximately 18% and is projected to reach USD 15 million by 2016.A fast increasing urban middle class along with the growing number of high net worth individuals has attracted most luxury brands to tap the potential of this market.

Even though international players have big bets on the Indian luxury market, they struggle with various hurdles in the country including a thriving counterfeit market and the limited talent to market such products. Many players have adopted varied strategies to attract the Indian audience and increase sales, such as offering an affordable range of products, etc. The future outlook for the market is positive, as the segment is expected to witness strong performance.

The report ‘Analyzing India’s Luxury Market 2015’ highlights key dynamics of India’s luxury market. The growing opportunity in the sector has been investigated along with examining the drivers and challenges. The Initiatives and performance of key players in the sector include Raymond Weil, Louis Vuitton S.A, Burberry Group Plc, Bayerische Motoren Werke AG, Hermès India Ltd, Gucci Group, Daimler AG and TAG Heuerhas also been studied. The report contains latest industry-related opinions.

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