Indian luxury changing attitudes

  Indian consumers change their attitude towards luxury goods, the payment of a disdain for conspicuous consumption, for the seasonal and embrace bright colors that stand out.

A number of factors are at work, including a generational change, the increasing visibility of high quality products and innovative marketing.

Jamal Shaikh, editor of Robb Report India, Little India, said that "glossy magazines exposed, what is traditionally considered heinous expenses for people that his was the only economical way to believe in order to live."

In addition, hybrid shopping centers reached to combine the luxury boutiques and not luxury with personal service, a new group of buyers. "The customer who shops here also Zara Stores at Burberry," said Atul Ruia, Managing Director of Phoenix Mills, owner of a shopping mall in Mumbai.

"Commercial hybrids were a huge factor in sales of luxury goods," he added. "The numbers are surprising luxury companies themselves."

While the economic developments of the past decade have greatly enriched some people, it is their children who will be driving the luxury goods sector, argued Vispi Patel, Director of Louis Vuitton Moet Hennessey India.

"The new junior class, upper middle class, instead of spend save will be the new generation of customers, for the first time for luxuries. Will drive growth," he said.

These buyers are likely to pay more attention to changes in fashion. "Some people come into our stores every season to prove the same bag or shoes in different colors, that luxury is more fast fashion in India and buy a way of life", Priya Sachdev, creative director of TSG International Marketing, said The Economic Times.

Luxury sales are no longer dependent on large metropolitan areas to develop innovative brand marketing to Tier 2 cities to reach. Judith Leiber, the maker of luxury handbags, for example, an exclusive trunk show at Indore published and quirky one-tenth of its annual sales event.

"India is an investment market," Patel said. "If you set a particular business or a brand, even if it is relatively unknown, if you select the right location, and has sufficient enough to promote it, it will always be a demand."

Data from Little India, Economic Times, additional content by WARC staff, 24 May 2013