When we talk about Asia, we are mostly talking about China but there is also another giant in Asia, and that is India. The vast and exotic country has 1,368 billion citizens and in 2018 the luxury market size was 30 billion dollars. The luxury market is growing rapidly and India is gaining more and more interest among the luxury industry.
As an English speaking market, it is easier to business and to analyze current events and opportunities. However, India does not have an official language but English is one of the most popular languages and it is the main business language.
India is also a member of the Commonwealth of Nations, which makes it even more lucrative because it shares certain values with a large community by being a business-friendly country and a predictable marketplace.
More than 300 prominent global retailers are already in India but there is always room for more brands. New Delhi and Mumbai are the most important cities for luxury brands to begin their journeys. Indian customers are expecting long-term love affairs with luxury brands, hence, they are not just quick spending and moving to other brands. Therefore, India is a perfect place for luxury brands, which are seeking new markets.
Published in Luxury Sales Academy.