Luxury Marketing in India: Aspects and Prospects

Gone are the days, when M. Gandhi's thought of ‘simple living and high thinking’ was respected by one and all in India. Prior to independence, conspicuous consumption was restricted to merely with the Nababs and Maharajas. However, in the last six decades, much water is flown under the bridge. Luxury market is flourishing in leaps and bounds in our country.Several luxury brands have become ‘apple of eyes’ of affluent consumers in India. One may notice the existence of various Indian and foreign luxury brands in the sphere of apparels, accessories, automobiles, cosmetics, wristwatches, electronic gadgets, furniture etc. Considering the peculiar nature, special type of strategies is required to have successful marketing such luxury products and brands. Despite the recessionary trends in the recent past, luxury market is flourishing and will continue to flourish in the years to come in India.