VISION FOR A LUXE 2020-21

The coronavirus and its socioeconomic impact on India and the world is unprecedented. No report, no survey could have predicted a six-month lockdown and life as we knew it coming to a standstill. But then that’s a pandemic for you.

- PRASHANT GAURAV GUPTA

And while we are yet to come out of it completely, the Indian luxury industry has been amazing in its bullishness to get back on its branded feet. Even though the past seven months or so of forced confinement have made the well-read and aware consumer introspect more profoundly on their spends, what it has also done is reassured them that their investment in luxury products was never misplaced.

Mind over matter

Luxury is a state of mind achieved by an assurance of unparalleled quality and refinement. People have realised that if you truly want to be sustainable, you need to consume that which will last longer and always inspire joy.

Since 2019, the Indian luxury landscape has been undergoing a shift—from the intent of owning luxury to experiencing it. While for the first decade or so, it was the big international brands that were entering the market, in the past four to five years, we have seen not only a steady growth of homegrown luxury labels but also the entry of niche brands.