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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