L u x u r y m a r k e t

& I n d i a

Made by : Shashwat Shukla

 Introduction
To understand the luxury market in
India, we need to consider the historical
and heritage perspective of luxury in
India. As Bernard Arnault rightly said,
luxury is a business where you must
build on heritage. The concept of luxury
in India or any country, originated from
the rich or the aristocrat, and the rich
were mostly the kings and emperors.
They could be rightly considered luxury
icons or brand ambassadors of the
historical past.
Luxury Jewellery in historical India
 Luxury Jewellery in historical India
• Sapphires or Golconda diamonds, Indian Royals have owned or worn it all. Let us look at some of the luxuries adorned by these
royals.
• Patiala Ruby Chocker– It was created by Cartier Paris in the year 1931 and carried six layers of rubies, diamonds, and pearls on its
sides. The Maharani of Patiala. wore it
• Diamond Crown– Maharaja of Kapurthala had an eye for grandeur, style, design, and presentation. It can be known from the crown
made entirely of best-quality diamonds, a pearl necklace, and a bejeweled diamond belt that the Maharaja used to wear.
• Star of South Diamond Necklace– Maharani Sita Devi of Baroda wore this. It had 78.5 carat English Dresden diamond in it. It was a 3-
tiered 128-carat diamond. The Gaekwad of Baroda, Mulhar Rao, brought it for 80,000 pounds or about 20 million INR
• Kundan Har- Maharaja Prabhu Narayan Singh of Benaras wore this. This was made with the most precious stones found in the
country.
• Patiala Necklace consisted of 2930 diamonds, with the world’s 7th largest diamond, a 234-carat yellow diamond, as its centrepiece. It
contained diamonds, topazes, rubies, zirconia, citrine, quartz, platinum, and Burmese rubies.
• Diamond Serpech- Maharaja Duleep Singh of Lahore, the last Maharaja of the Sikh Empire, won this. The Serpech had three plumes
of many diamonds with an emerald as the centrepiece.
Luxury Clothing in historical India
The Maharajas used to wear
garments made of silks, velvets,
brocades with gold or silver
embroideries, and artwork along
with diamonds, pearls, and other
precious stones embedded in the
dress. They used to wear belts,
turbans, or crowns with bejewelled
diamonds and pearls. The queens
used to wear sarees with gold
embroideries and precious stones
embedded in their falls.
Luxury Carriages in historical India
The luxury carriages used to be gold or
silver-plated chariots on four wheels which
were spacious and lavish from the inside.
Generally, well-bred royal horses were
used to drive them. Elephants also served
as carriages, with the head of the elephant
and the seat enamoured with jewels.
Comparison of modern luxury in the world and h luxury in India
Current Scenario of Luxury market in India
 Reasons for the current growth of
Luxury market in India
• Growth of billionaires and semi-billionaires
• Growing brand consciousness among people
• Exposure of the population to different aspects of luxury through the internet and other
mediums
• Concerted efforts by luxury brands to increase the luxury market share in India
• Indian tradition likes to provide meaning to objects. Luxury goods and brands get
symbolized by this aspect of Indian culture ( like a big fat Indian wedding, festivals, and
gifts) or resemblance of luxury goods with symbols like purity, strength, divinity, and such.
Reasons for the current growth of Luxury market
in India
Number of millionares in India will
double down from 7,96,000 in 2021
to 16 lakhs in 2026. Growing
millionares in India could mean much
more potential for customers for three
luxury brands

For customers it means more

avenues to spend their income
 Challenges faced by India in
Luxury market
Workforce management Understand the Retail Real estate
issues Culture
The space issue: In most Indian cities, it
The retail industry is expected to grow In order to succeed in India, luxury is difficult to find suitable properties in
at a CAGR of between 30 to 40% for brands need to localise their marketing central locations for large format retail
the next few years. To meet growth, strategies. This goes further than just stores. This absence of readily available
retailers will need to find skilled staff, putting an Indian print on a bag or land supply, coupled with increasing
especially at the senior and middle collaborating with a local celebrity demand for space from retailers, causes
a demand-supply mismatch.
management levels.
 Strategies of Luxury marketing in India
1. The brand must be “expansive”

Which means it should be full of innovation opportunities for the marketer and in terms of satisfying the divergent needs of the luxury consumer

2. The brand must tell a story

It is this story, of either heritage or performance or other aspects that goes on to build the aura of a brand over time. The story always accentuates
the identity of the brand.

3. The brand must be relevant to the consumers’ needs

Depending upon the mindset of the luxury class, it is imperative for a brand to satisfy those needs, whether they be for recognition or functional
use etc.

4. The brand must align with consumers’ values

A brand that does not concur with the basic values of a consumer’s society has a small chance of succeeding because luxury items are forms of
expression or identification for a luxury consumer. This makes it difficult for the consumer to adopt the brand in such cases.
Importance of Celebrity endorsement to
luxury brands in India
 Bibliography
• https://www.luxurytribune.com/en/india-the-next-big-
luxury-market-to-grow-3-5-times-by-2030
• https://www.iaset.us/download/archives/--1391412407-
1.%20Sales%
• https://mba-esg.in/the-boom-of-luxury-market-in-india/
• https://www.iosrjournals.org/iosr-jbm/papers/Vol15-
issue1/C01511827.pdf
Th a n k
you