The world, it seems, is excited about India’s luxury market, notwithstanding it’s meagre contribution of 1-2 percent to the global luxury trade. They are all here. Fendi, Louboutin, Hermes, Louis Vuitton, Gucci, Burberry, Chanel, Jimmy Choo and more. And for the long haul.
India’s exiguous contribution to the global luxury market de facto translates to a $18.3 billion luxury market (st rewed across many segments, from cars to watches, hospitality, apparel and accessories and other lifestyle products) in the country. And it is deemed to gallop to double that size in the next fi ve years. The phenomenal growth of the Indian luxury market has earned the country the tag ‘Star of Asia’ leaving in its wake Russia and even Hong Kong, which are appraised as weak markets in comparison to India’s
The Indian luxury market is growing at a compounded annual growth rate of about 25 percent. Yet, the market has not reached a tipping point as in China.
n the cover story of February issue, we have analysed that what is going to be the tipping point for the growth of luxury retailing in India.
This issue also carries a report on India Food Forum 2017 powered by Sri Sri Products, the forum is unarguably India’s most exciting and forward looking knowledge sharing venue for food, grocery, FMCG brands, distributors, marketers, grocery retailers and foodservice companies. In it’s10th edition the three days event was held successfully on 31st January – 2nd February at Bandra Kurla Complex, Mumbai. Also there is a special feature on the winners of prestigious Coca-Cola Golden Spoon Awards, which was powered by India Gate Basmati Rice and held on the second day of India Food Forum 2017
part from this we also have an intriguing feature on the changing dynamics of the beauty and wellness industry and a detailed synopsis of Budget 2017 and what it means for the retail sector.
With this I hope that you find the February 2017 issue of IMAGES Retail both useful and educative.