Mumbai: With the global economy recovering from recession, the cautious Indian middle-class consumer is back on a spending spree, with his focus more on luxury and international brands, a Dubai-based luxury goods distributor said.
India is one of the fastest-growing retail markets in the world and Dubai’s Big Brands plans to organize a carnival in India to capitalize on the festival season when sales of such goods shoot up.
“Our basic idea is to showcase international brands and bring them to the average Indian consumer and hence we are arranging a carnival in India to make its people aware of such brands,” Big Brands’ managing director, Vijay Samyani, told PTI over phone here on Monday.
The carnival, which will be held between 24-28 September in the metropolis, is expecting over 3,000 footfalls every day and Big Brands will be offering discounts of up to 80% on labels such as Chopard, Tussardi, Calvin Klein, Davidoff, Givenchy, Ferre and CROCS.
“With India’s economy growing at 6-7%, consumption has increased and is expected to further rise in the coming years. This holds a great promise for the retail industry,” Samyani said.