Shilpa Dhamija

India’s powerful conglomerate and leading fashion retailer Aditya Birla Fashion and Retail Limited (ABFRL) is a key player for luxury brands looking to establish themselves in India. Exclusive interview with Sathyajit Radhakrishnan, CEO of the group’s international business.

Fueled by a resilient US economy and a sharp recovery in global equity markets, the world now has 4.2% more ultra wealthy individuals (UHNWI) than it did a year ago. The Middle East and North America recorded the highest growth in their UHNWI population at 6.2% and 7.2% respectively, according to a report released last week by Knight Frank.

As key markets US, Europe and China show tepid growth prospects for luxury fashion in 2024, the Middle East, India and South-East Asia will open new routes to expansion.

The luxury goods sector is expected to reach $11 billion by 2030 in the Gulf countries, and Saudi Arabia aims to privilege its local brands while becoming a major player in the global fashion supply chain.

Indian luxury fashion brands are now able to export and attract investors. High-quality Indian handicrafts, recently given pride of place by Western luxury brands, are now finding a way to expand thanks to local fashion houses.

The Indian town of Jamnagar was transformed for Anant Ambani’s luxurious pre-wedding festivities, a family tribute to the Reliance empire. With renowned guests and a budget of 139 million euros, this event illustrates the importance of wedding traditions in India.

India is home to hundreds of workshops that deliver exceptional craftsmanship. However, most luxury brands wish to keep their relationship with India a “secret trade”. Analysis.

The overall global luxury market is expected to reach 1.5 trillion euros by the end of 2023, accelerated by the Personal Luxury Goods segment that could reach 362 billion euros, according to the 22nd luxury market report by Bain & Co. and Altagamma.

The gold and jewellery trade is booming between India and the United Arab Emirates. Indeed, in 2022, the two nations signed a Comprehensive Economic Partnership Agreement (CEPA), drastically reducing taxes and customs duties.

Many luxury car brands such as Lamborghini, Mercedes, BMW & Porsche reported their highest-ever numbers in India in 2022. Despite no respite in the country’s high taxes on imported high-end cars, increasingly successful young Indians are spending on luxury goods and services.

In ten years time, the Indian luxury beauty market could rival that of China. In an exclusive interview, Anchit Nayar, CEO of Indian retail giant Nykaa Beauty, explains why he’s optimistic.

As growth in the luxury cosmetics segment falters in China, South Korea and Japan, India and Southeast Asia now offer the greatest potential for expansion over the next decade. The sector is expected to reach 12.7 billion by 2030.

Owned by Reliance Industries Ltd – a company chaired by Mukesh Ambani, Asia’s richest man – the Jio World Plaza (JWP) shopping center has just been inaugurated in the business district of Bandra Kurla Complex (BKC).

Amidst the surging lab-grown diamond (LGD) market, India emerges as a global powerhouse, producing a significant portion of the world’s man-made diamonds.

India is the world’s third-largest car market, but the growth potential of the luxury car segment in the country is still far below what it could achieve. Several factors are holding back this growth. Let’s take a look at a complex market with enormous growth potential.