Indian & foreign brands are forming tie-ups to tap the affluent class

IIPM PUBLICATION
Enough has been said about the bottom of the Indian pyramid, so much so that one tends to overlook the teeming potential of the Indian affluent class. With the World Bank ranking it as the twelfth most wealthy nation in the world, India is the new-found paradise for global high-end ritzy brands. The year 2006 saw the entry of Versace, Escada, Lambourgini & many others waiting in the line, including Llardo, Valentino, Gucci & Giorgio Armani. Echoes Gregory J. Furman, Chairman & Founder of Luxury Marketing Council, “With the affluent consumer segment set to grow at 13% over the next few years – the market presents tremendous potential for luxury goods.”

Indian players are now bringing in global brands to tap this unexplored market. Tarun Joshi, CEO, S. Kumar, which roped in Escada, states, “A globally famous brand does help high class customers.”

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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Rashmi Bansal Publisher of JAMMAG magazine caught red-handed, for details click on the following links.

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