Luxury Brands Are Also Popular In India, But Jewelry And Clothing Are Exceptions.

Although the gap between the rich and the poor is large in India, this phenomenon is a good opportunity for the luxury market.

The third party market research firm, Rui Information Consulting Co., predicted that by 2019, the size of the luxury goods market in India will more than double to $5 billion 600 million.

Although this figure is still smaller than the scale of China's luxury goods market (last year's US $23 billion), India's luxury market is growing rapidly.

Although many people first think of poverty and toilet in India's mind, it is hard to find a market for luxury goods.

But in fact, the rich class in India is very large and is still growing strong. The consumption capacity of the affluent in the country is absolutely not small or even larger than that of China.

Especially in recent years, with the weakening of the international economy and the decline of China's economic growth, the luxury industry has already come to India to find the way, but the luxury market in this country has many unique features.

India women, whether young or not, love Judith Leiber's handbag, because this brand handbag matches colorful, embroidered luxury India dresses.

Although luxury shoes, watches and bags are favored by the wealthy in India, other kinds of luxury goods are not particularly popular, especially those with Western characteristics. They are not very popular in the India market.

Because compared with Western clothing, many India rich people prefer gorgeous traditional costumes.

In this regard, Western luxury brands made many localization improvements.

For example, in the fashion industry, Hermes has specially made the sari series for the India market. GUCCI, Chanel and JimmyChoo are trying to catch the wedding market in India.

Louis Weedon broke into the wall by investing in India's menswear brand Herringbone & Sui.

In terms of jewelry, in India's traditional customs, the pursuit of wedding luxury and accessories can be regarded as obsession.

Chunter Kari, a partner at AT Kearney, said, "no matter how expensive the jewellery is, Indians can buy it without blinking, but buying a Louis Weedon bag will think twice."

It is estimated that the total value of fashion accessories market in India will reach 25 billion 106 million yuan in 2017.

At present, the jewelry and luxury market in India is entirely controlled by local companies. People prefer traditional jewelry design, and Cartire and Tiffany are not as popular as other luxury goods.

According to the report of India's Fortune Management Inc, more and more wealthy people in India (at least 44%) live outside the metropolis of Delhi and Mumbai, that is, two or three line cities.

From Indore in central bond to Nagpur in Maharashtra, Valentino's wallet, AIGNER's watch and Christian Lubukta (Christian Louboutin) shoes can be seen in casual fashion shops.

But luxury brands are also facing difficulties in opening stores to the two or three tier cities.

Some dealers say the shopping malls in these areas are not enough.

In addition, high import tariffs and luxury tax imposed on high-end goods have prompted more Indians to go shopping overseas.

Accessories, clothing and electronic products are the three most popular among Indians.

The higher network popularity of the two or three line cities and the growth of the number of young people in India are the main driving factors.

Almost all India accessories brands have online stores, and they sell products through major online retailers.

Apart from India's local brands, some international brands and designer brands now prefer to use the electricity supplier mode, and online retailers who distribute high-end designer products are becoming more and more popular.

The representative platform of India fashion e-commerce market is Luxury Hues. The main business of the platform is the sale of luxury goods, which allows consumers to pay in installments, and some products to provide specialized services.

In September 2015, it received $1 million in investment in Reliance Capital.

At the same time, Luxury Hues also provides market advisory services for people with high net worth.

If Luxury Hues's electricity supplier attributes are not so strong, then in September of this year, the second family of Bilal family's daughter, Anani Ananya (Bilal Birla), the online luxury platform CuroCarte, is a real luxury business platform.

At present, there are more than 70 kinds of products and more than 1500 commodities on the platform, so as to develop high-end products.

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Luxury prices are too expensive and what do they like to do? Fashion rental platform Flyrobe is designed to solve this problem.

Flyrobe was founded in 2015. In August this year, it won the $5 million 300 thousand A round of IDG investment. It also won a $1 million 700 thousand round investment in Sequoia Capital.

On the Flyrobe platform, users can rent high-end clothing and accessories, and designers give suggestions for wear.

At present, the business scope of Flyrobe is concentrated in Mumbai and Delhi, and the company plans to set up sub stations in Hyderabad and Bangalore next.

In addition, there is news that Paytm is also planning to develop new ones.

Anasa hopes to make it the first luxury online sales platform for the high net worth population to provide the right luxury shopping environment and market positioning.

The company is now connecting with India's luxury retailers for this platform.

At present, there are not many platforms for India to enter the field of luxury electric business, and the market is still in the stage of being excavated.

The lack of local luxury brands and the lack of international brands imply that India's luxury market competition is not so fierce. This is a good opportunity for big players to enter, and also an opportunity for Internet entrepreneurs.

Zhu Dao believes that the "28 law" is not unfamiliar to all of us. 20% of us hold 80% of our wealth. The luxury market is for those 20% people.

Because of this, low price has never been the focus of competition for luxury goods providers. Product quality and service quality are the core of luxury e-commerce competition.

How to get trust is also a headache for e-commerce providers.

Trust in the authenticity of goods, and on the other hand, the trust of the brand.

Luxury brands are more prudent in channel selection, brand image, price policy and after-sale, which is why they are reluctant to join the Internet.

If the platform can solve the concerns of the brand side, it will get twice the result with half the effort.

In addition, luxury electric providers can also expand their business horizontally with the advantages of their high-end users, such as increasing household, food, health and other aspects of life.

At the same time, we should deepen the supply chain layout, build our own electricity supplier channels, and provide secure payment methods to ensure the quality of service and long-term development of the platform.