CII in partnership with IMRB International released a report on the Indian Luxury Consumer at its flagship luxury conference. The report covers the Indian luxury market’s trends and current changes, with a focus on the Consumer. From dedicated luxury mall spaces to the foray of leading International luxury brands in various categories, to micro finance for luxury products, India specific variants in luxury cars and getting a taste of luxury through bridge brands – the Indian Luxury market is developing many facets. Luxury is no longer restricted to the rich & famous alone; it is the new age or ‘closet consumers’ who do not typically fit into the boardroom definition of luxury consumers who are staking claims to luxury products, brands and services as well, but on their own terms. It is against this backdrop that one needs to study the ‘changing face of luxury’ in India.
The report was released at the CII-ET Dialogue on Luxury organized by CII on 19 November, 2013 at New Delhi.