The curious luxury boom amid the pandemic gloom

POLITICALLY INCORRECT

- SHOBHAA DE

Most of us would think it’s the elusive oxygen that rates as the single most precious commodity in India right now. Something as basic as oxygen now defines the ultimate in luxury — no price is too high for a cylinder or concentrator to save a loved one who is gasping for breath. At least, for those privileged enough to have the money to pay up. But while most of us focus on a lifesaver which is shockingly in short supply, there are those who are clamouring for the latest ‘it’ bag of 2021. Going by the Luxury Index that tracks all things bright and beautiful across continents, the much-coveted Hermes bag has topped charts with a 17% rise in sales! In fact, luxury handbags have emerged as the ‘most wanted’ and ‘most desired’ items on shoppers’ lists worldwide, India included. Which shoppers, you ask incredulously. Ummmm — not people like us, clearly! This select breed falls into the UHNWI (Ultra High Net Worth Individuals), courted by every big label on the globe for their charming ability to drop obscene amounts on all things gorgeous — jewellery, watches, classic cars, fine wines and art, of course.