Indian consumers warm up to luxury labels

A sighting rising demand for luxury products in India, several global luxury and premium brands are foraying into the country. Leading labels like Louis Vuitton, Gucci and Hermes are already present, while others are eyeing entry. For instance, American luxury fashion brand Coach is said to be eyeing the market through Gurgaon-based firm Genesis Luxury.

Other brands that have established a strong connect with Indian consumers include: Burberry, Fendy, Jimmy Choo and Michael Kors, among others. Global luxury brands, which earlier failed to understand the preferences of Indian consumers and also the domestic market, are returning to the country with fresh strategies and perspective. The names include lingerie label La Perla that has partnered with Vikas Jai, Co-founder of Micromax, British luxury menswear and accessories brand Alfred Dunhill, which brought the shutters down on its stores in India in 2012, and Italian fashion house Versace, which has now found a new partner in place of Manav Gangwani’s Infinite Luxury.

International companies now seem to have understood the nuances of doing business in India. They are now introducing products and prices tweaked to match Indian sensibilities and distribution strategies to suit the local market. And they have also realised the need to have a local partner, who understands the Indian market well to offer better customer service.