India's Luxury Goods Market in 2017
Just a quick round up of the luxury goods market in India in 2017.
The current size of the Market in India is USD 18.3 Billion, touted at USD 100 Billion in next 7-8 years (2025), growing at a CAGR of 25 percent. India adds 500 New Ultra High Net Worth Individuals year on year.
As India's first Luxury Goods Manager, in 1999, the Luxury goods sector in India was nascent. India's organised retail sector opened in 1999, at Crossroads Mall, and Ermenegildo Zegna's flagship store (India's first Luxury Brand to enter India with a directly operated Company), was here. These numbers I read today of 18.3 Billion and the CAGR of 25 percent, sound really exciting. The next 10 years in Luxury Retail will be exciting here in India.
As per the Bain Global Report published in Oct 2017, the Global Growth in Luxury goods was at a growth rate of 5 percent in 2017.
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