Active Stocks
Thu Feb 29 2024 15:49:54
  1. Kotak Mahindra Bank share price
  2. 1,690.80 0.43%
  1. Axis Bank share price
  2. 1,075.70 0.10%
  1. Tata Steel share price
  2. 140.90 0.11%
  1. Power Grid Corporation Of India share price
  2. 282.55 1.07%
  1. ITC share price
  2. 406.50 -0.51%
Business News/ Specials / New Indian Rich/  Fitted in style

Fitted in style

Here's what the super-rich are buying

Hindustan TimesPremium
Hindustan Times

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.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 18 Aug 2014, 12:53 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App