OPINION
The Dior Fall 2023 show in Mumbai
$ 9.35 billion luxury market , making up a considerable part of India ’ s $ 24 billion market ( as per Bain Report ). A total of $ 3.14 billion is spent on Watches and Jewellery , marking the highest category-wise spending in South India , followed by Apparel & Footwear ($ 2.43 billion ) and Cosmetics & Personal Care ($ 1.76 billion ).
Priyanka Chopra and Nick Jonas at the Ambani-Merchant wedding in Mumbai last month . The lavish affair shined a light on India ' s ultra-wealthy .
Understanding cultural sensitivity India ' s diverse cultural landscape requires brands to adapt their strategies . Understanding local preferences , consumer traditions and customs is crucial to establishing a brand successfully in the market .
Localisation of products and tailored offerings are necessary . For instance , offering designs or collections that resonate with Indian heritage and aesthetics will create a stronger appeal and emotional connectivity . Partnering with Indian designers or artists , similar to how luxury
30 www . insideretail . asia August 2024