Trapped Luxury Market in India amid Rising Momentum and Eternal Change: Disparity, Disagreement and Edges

The growth in the luxury market has been riding on the robust growth in the luxury categories like apparel and accessories, perfumes, fine dining and automotives. The market in Asia including India does not behave the same way as in the western world where many luxury brands have been nurtured. Although India has been on a growing spree while a new class of consumers has been emerging which is the closet consumer. The market in India is still a holds a very small percentage as compared to the global market In this luxury world today, being unique and exdusive are not enough for sustaining and growth of a brand as fewer consumers are willingto blindly mnform high prices as the mark ofluxury. The paper tried to study and address how to target the closet consumer without alienating the mature luxury consumer. It also takes a close look that despite the rapid luxury retail sector growth in line with the surging list of HNls in Indian Economy, why Indian market still holds a very small share of the pie. The paper explains how the Luxury Market is yet to achieve its high and is poised for it. This study contributes to the added literature bringing forth the Indian luxury market insights amongst the changing luxury structure and government policies. The results of this study would help to create a deeper undersmnding oflndian luxury market.