India Beckons

Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before

- SMITA TRIPATHI

PRIYA SINGH AND her husband Akaash, Delhi-based garments exporters, celebrated their 10th wedding anniversary in October. To mark the occasion, they bought the new Bvlgari Bvlgari Mangalsutra sautoir necklace and the B.zero 1 kada bracelet. The mangalsutra, in its second version after the wild success of the first, is priced at ₹13.60 lakh, while earlier this year, Bvlgari introduced the kada at about ₹12 lakh to target men. “India is one of the temples of jewellery as people worship gold and jewellery here,” says Bvlgari CEO Jean-Christophe Babin.

Bvlgari is not the only global luxury brand to have India-specific products. It has almost become a norm for such brands to introduce a Diwali collection. For instance, Christian Louboutin has launched its limited-edition India-specific collection—The Diwali Edit—of shoes for men and women along with handbags.

Global luxury brands are increasingly focussing on personalisation to appeal to the Indian consumers, says Pushpa Bector, Senior Executive Director and Business Head-Retail at DLF, that operates two luxury malls—Emporio and Chanakya—in Delhi. “This includes introducing limited-edition pieces, leveraging local artisanship, and curating experiences that reflect India’s diverse heritage.”