Wedding; a recession proof business
Wedding is a $ 50bn market.
Wedding is a $ 50bn market.
Brief:
According to Forbes business of wedding is recessions proof.
There are 10 million weddings in India every year.
Crazy weddings:
Isha Ambani’s INR 700 crore wedding is at the top.
Jaipur in Mumbai wedding, as enough rooms were not available in Jaipur.
Dil Dhadakne Do wedding, which cost INR 7 crore per day (approx).
Udaipur wedding, where International and Bollywood stars performed.
Deshbhakt wedding, where fighter pilots fly past with Indian tricolour dust behind.
What goes into wedding planning?
It involves bookings hotels or cruise ships.
It also involves flying down chefs and artists from all over the world.
Building massive sets that resemble cities, starting at ₹1 crore to ₹1.5 crore, with no upper limit.
Creative services of vendors for photography, decorations, styling, designers and logistics.
How big is the market?
It ranges between INR 1,50,000 to INR 3,00,00 crore market.
While the rich do not spare any amount, the middle class is ready to spend between INR 10 lakh to INR 40 lakh.
Wedding planners either charge a flat fees or a management fees, which averages around 8% to 12%.
Big wedding planners:
Motwane Entertainment and Weddings (MEW)
Wedniksha
Dreamzkraft
Tamarind Global
Weddings by Gurleen M Puri
Wedding Design Company
Weddingwire
What’s in it for Delhi-NCR?