Delhi-NCR as hub of luxury brands in India
Mint reports Launch of Luxortium, an independent platform for luxury market.
Mint reports Launch of Luxortium, an independent platform for luxury market.
Brief:
India’s current luxury market is worth INR 360,000 crores. It will grow at the rate of 26% to INR 4,80,000 crores by the year end.
Swapan Seth has launched Luxortium as a platform for select CEOs and top level marketers of luxury goods. It will help brands to understand customer behavior.
It will be invite only platform. It will organize events such as ‘CEOs only breakfasts’ and ‘executive roundtables’.
It will also provide independent Micheline star like rating for luxury brands in India.
Fun facts about Indian luxury market:
India bought one out of every fifth Rolls Royce in early 20th century.
Maharaja Patiala commissioned Cartier’s largest necklace.
Berluti Shoes is in India. Their cheaper shoes sell for INR 1 lakh.
Maharaja of Alwar bought Rolls Royce for collecting garbage.