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Luxury brands are increasingly looking to India for growth prospects, according to Bénédicte Epinay, CEO of Comité Colbert, the official luxury association of France. India has all the ingredients for luxury brands, including consumers, appetite for refinement, taste to understand luxury, and passion to show off. Post Covid, brands are seeing a growth of about 5-10% globally, making India the next key frontier for global luxury brands. ....
"Is India the next promising market? There are obstacles such as custom duties and the bureaucracy, but it probably is, because you have all the ingredients," Benedicte Epinay, CEO of Comite Colbert told ET. "You have the consumers, you have the appetite for refinement, you have the taste to understand luxury, and you have the passion to show off." ....