REPORT
Jan 22, 2014
India’s strategic big spenders

Given its per capita GDP and number of high net worth individuals, analysts estimate that India's luxury market could be up to 150% larger than it is now. Can an understanding of the unique Indian mindset help unlock its full potential?

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Scope

A young, twenty-something Indian man was getting married in a few weeks. His father, who worked in the luxury industry, suggested he wear a Canali suit on his wedding day. The man went to the Canali boutique, got himself measured, and was told that the suit would cost him upwards of £1,000. He thought about it, and debated the cost – but in the end he bought a £250 suit from the local tailor instead. After his wedding, he confessed to his father that he might have made a mistake. “I should have bought the Canali,” he admitted. “Because the way I felt in that store is what I treasured the most.” [1]