The word luxury bandied around these days is a clear misnomer. What was Luxury then is a part of a good life now.
In fact the sooner brands clear the gross misconception that
- Luxury is only for the rich & famous older population
- Luxury must be unaffordable to be appealing
- My rich & famous will always love me & only my brand.
the faster they would grow and this is extremely valid in India. What was thought of as luxury is now Lifestyle & more importantly the numbers have undergone a meteoric rise in this segment.
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Absolutely true! If brands and companies realize it, we will get more luxury items in the market. More choices, more competition.
For example, AC was a luxury once and now more and more people are going for it. Demand is increasing and costs are reducing.
August 20th, 2010 at 10:38 pm