The Status of Luxury Talent in India
The research and analysis of this Luxury Retail Report is based on information received from various students and professionals in the Indian Luxury Product & Services Sector primarily through a research survey. The respondent category was also extended to brand owners or their key senior executives of up to CEO level.
Luxury Products & Services Sector in India
With the increasing number of international luxury brands entering India to numerous real estate builders claiming their developments to be luxury, “The Luxury Mantra” is here to stay. India is now perceived to be the new Mecca of Luxury. The Luxury market in India is growing at a steady pace.
As per a report by AT Kearney, the market size is estimated to touch $15 bn by 2015. Also projected is the fact that a quarter of the luxury market will be between India and China by then. Besides, India is the second fastest growing economy after China.
The ever-rising UHNI category has a net worth of over $ 600 billion. The luxury market size would quadruple by 2025 and India would be the fifth largest consumer market by then. India is all set to encounter this gigantic growth in Luxury, the question arises: does India have the required human resources to handle it?