Personal Luxury in India

PROSPECTS

Lower tier cities proving increasingly attractive

The expanding young middle class in Tier 2 and Tier 3 cities is providing an increasingly attractive consumer base for personal luxury players. With the retailing environment less well developed in lower tier cities than in the country’s major urban centres, personal luxury manufacturers are looking to e-commerce to reach the rising aspirational demand beyond Tier 1 cities.

Sales remain highly seasonal

Seasonality remains a key feature of several product categories in the Indian personal luxury market. Festivals and the wedding season are responsible for a considerable proportion of sales in categories such as luxury jewellery and luxury timepieces.

Growing resale market

India is seeing the emergence of a prominent luxury products resale market. Luxury watches and pens are amongst the resale products that have gained in popularity due to Ethos Watch Boutiques, which sells self-certified products with a warranty.

COMPETITIVE LANDSCAPE

LVMH Watch & Jewellery retains lead

LVMH Watch & Jewellery India remained the largest player in personal luxury in 2018, thanks to a broad presence across product categories, a strong social media presence and numerous global celebrity endorsements. The company offers a number of personal luxury brands, including TAG Heuer, Fendi and Christian Dior, but is primarily reliant on the market-leading Louis Vuitton brand.

More global brands entering the Indian market

A growing number of global luxury brands from different categories are entering the Indian market to tap into its notable growth potential. In designer apparel and footwear (ready-to-wear), Ralph Lauren entered the Indian market with the opening of a Polo concept store in New Delhi in 2018.

Luxxuberance highlights rise of multi-brand outlets

The personal luxury retailing environment is increasingly seeing the development of multi-brand stores, such as Luxxuberance, which plans to open 40 stand-alone outlets between 2019 and 2022. Having opened its first flagship store at Palladium Boutique in Mumbai in 2018, luxury handbags and accessories retailer, Luxxuberance, is primarily targeting Tier 1 cities during its first phase of growth.

Files are delivered directly into your account within a few minutes of purchase.