Fitted in style
Here's what the super-rich are buying
When it comes to dressing up, ultra high net worth individuals (UHNIs) and HNIs in India prefer to lay their trust with the tried and tested luxury brands. Amrish Kumar, chief executive officer of home-grown luxury label Ritu Kumar, prefers to buy a Prada suit when he has to indulge. “I own a Prada suit as I like its style and fit," said Kumar. While the brands of choice may be predictable, customization is in high demand. So what are the super-rich buying? “Women are buying bags, shoes and apparel, in that order, while men prefer suits, belts and watches," said Abheek Singhi, partner and director, Boston Consulting Group. According to Deloitte, the luxury industry in India is growing at a compounded annual growth rate of 25% and will be a $14-billion market by 2015. After speaking to HNIs and various industry stakeholders, Mint has short-listed the most popular luxury apparel brands.