“India’s Luxury Market to cross $10 bn mark by 2014”: Luxury market “shakes off slowdown blues”| The Economic Times


India’s growing Luxury Market is set to exceed $ 10 billion-mark by 2014, boosted by a new class of wealthy  termed as the ” closet customers “ who have have joined the traditionally rich contributing to higher Luxe sales, a report said today.

As per the CII-IMRB report, the impact of the economic slowdown in 2013 has impacted the luxury market to a certain extent but by mid-2014 the market is expected to revive and continue its growth trajectory and grow at nearly 17 %  in the year 2014.

From about $3.66 billion in 2007, the luxury market has more than doubled to $7.58 billion in 2012. According to industry experts, India could emerge as an important luxury market in the next decade but pricing will continue to play a key role in expanding the market. 

Indias luxury market to cross $10 bn mark by 2014: Report – The Economic Times



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