If one truly needs to assess the wealth of a country, a great idea would be to visit a mall. Department stores are great indicators of a nation’s fiscal health. Not only does one have an overview of the premium stores invested in the country, one could also assess how many mall visitors are actually carrying shopping bags, and of which brands.
An understanding of the luxury business is important for any economy. According to Statista, a leading provider of global market and consumer data, the global luxury goods market was worth around €1.14 trillion in 2021. That is a sizeable business. The global luxury goods industry includes cars, private jets, alcohol, fashion, fragrances, watches, jewellery, cosmetics, luggage and handbags. All of these have been on a steady uptick for more than a decade. Luxury goods makers focus excessively on brand, marketing, aesthetics of the product, stores and communication so that the products become status symbols and, thus, coveted.
The economic stability of a country clearly has a bearing on the well-being of the luxury market. The US is the world’s leading luxury consumer and China is close at its heels. China is expected to become the world’s largest luxury market in 2025.
Bu hikaye THE WEEK India dergisinin October 30, 2022 sayısından alınmıştır.
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Bu hikaye THE WEEK India dergisinin October 30, 2022 sayısından alınmıştır.
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A golden girl
One of India's most formidable beauties passed away earlier this month. The odd thing is she would absolutely hate this obituary; she hated being written about and avoided publicity for all of her nine decades. Indira Aswani was 93 when she died. But anyone who encountered her, even briefly, was in such awe of her grace and poise, and one could not but remember her forever.
The interest in wine is growing delightfully in India
The renowned British wine writer and television presenter Jancis Robinson, 74, recently came to Delhi and Mumbai to reacquaint herself with India's wine industry. This was the Robinson's fourth visit to India; the last one was seven years ago. On this trip, Robinson and her husband, restaurateur Nicholas Lander, were hosted by the Taj Hotels and Sonal Holland, India's only Master of Wine.
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COVER DRIVE
Usage-driven motor insurance policies offer several benefits
GDP as the only measure of progress is illogical
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India is not a controlling big brother
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Comrade with no foes
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Pinning down saffron
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MAKE IN MANIPUR
Home-made rockets and weapons from across the border are escalating the conflict
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