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Luxury brands find buyers beyond metros
Published on Thu, Mar 27, 2008 at 20:27, Updated on Fri, Mar 28, 2008 at 14:17 in 
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SHOPPING SPREE: Non-metros like Gujarat, Punjab and Northeast are emerging as big spenders.
New Delhi: Move over from Delhi, Mumbai – Punjab, Gujarat and the Northeast are emerging as big spenders for luxury goods helping the Indian luxury market multiply 10 times by 2015.
Now our Banarsis and Jamawars will share a chunk of the Indian luxury pie with Gucci and Pradas of the world.
Landlords of Punjab and tea garden owners of Assam - Luxury brands in India, need to look beyond south Delhi and south Mumbai.
There are about 16 lakh homes in India that annually spend at least Rs 4 lakh on premium and luxury products and services.
Alongside, there is another emerging India, of 400 million upper middle class, with rising disposable incomes and big aspirations. But are luxury brands missing the opportunity?
Tehcnopak Advisors MD Harminder Sahni says, “Rich professionals, small businessmen are the market but brands are missing the point.”
With a whole new lot there, waiting to be tapped, experts believe that dynamics of Indian luxury market are set to change. Where it may be early for the luxury brands to set up retail space in small rich towns, direct mailers and relationship building might be the need of the hour.
Brandhouse Retails MD Tarun Joshi says, “We get customers from Gujarat, North East everywhere.”
Brand house retail that represents brands like Dunhill and Escada in India may look at setting up stores for the Indian high end products like Pashmina, Banarsis and Jamawars.
This because, industry players say, where apparel for men, tops the luxury brands in India, Indian women still prefer a rich Kanjivaram or a Banarsi.
Seems like the time has come for luxury owners here to include premium desi products on their shop shelves.
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