The local arms of Louis Vuitton, Christian Dior and Hermes together sold ₹1,400 crore worth of clothes, bags and other merchandise in India in the year ended March 2024, according to their filings with the Registrar of Companies, accessed exclusively through the business information platform Tofler. The three companies generated sales equivalent to nearly two-thirds of entire India business of the Swiss watch industry, which sold timepieces worth ₹2,074.8 crore between January and October this year in the country.
"What we've noticed now is that while people generally are spending less often on their luxury goods purchases compared to previous years, they are buying more valuable items," said Raahul Kapoor, founder of Delhi-based Luxury Ampersand Frolics, which offers consultancy services to luxury brands and brings its own brands to India.
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Denne historien er fra December 02, 2024-utgaven av Hindustan Times.
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