Friday, 23 July 2010

Wealthy Indian Shoppers Look Abroad For Luxury Goods - 23/07/10

Luxury spending in India is at a low, as consumers are looking abroad for their high end designer fix. Instead wealthy Indian shoppers are looking to the fashion capitals of London, Milan and Paris, which is a challenge for luxury companies such as LVMH who have set up shop in India.

Mohan Murjani, who attempted to sell Gucci and Jimmy Choo in Mumbai, but quickly gave up, has stated of this shopping trend in India, “I don’t see luxury taking off for at least another decade.” It appears for now, the ambience and sophistication of luxury shopping abroad is too tempting for wealthy Indian’s.

Image credit: businessoffashion.com

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Posted by MO at 6:00 am
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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au