Festive buying spree cheers luxury brands

Luxury goods demand is also emerging from cities beyond the top metros

- Varuni Khosla

Companies expect a significant surge in luxury goods demand in the ongoing festive season amid a thriving economy. Categories such as fashion, jewellery, footwear and even cigars are set for substantial growth, with some categories likely to rise by up to 20% in the third quarter.

DLF, a leading luxury mall in northern India, is witnessing a growth of 50% for watches, branded jewellery and ready-to-wear items from a year earlier.

"There is a noticeable uptick in overall expenditure, with an 8% growth in spending per customer compared to the previous year. So, we are expecting increased spending across all luxury categories, such as clothing, beauty and personal care, during the upcoming festive season. We have also witnessed a positive response from tier-2 and 3 markets," said Pushpa Bector, senior executive director of DLF Retail.