There can be no end to indulgence. At a time when the pockets of the uber-rich are getting deeper by the day, luxury brands are making hay in the shining Indian economy. The likes of luxury car maker Bentley, hospitality major LeelaVentures, and French salon and spa major Jean Claude Biguine are banking on the super-rich to not only sell regular luxury brands but they also see a unique market emerging for super luxurious products.
Bentley, from the Volkswagen stable, recently unveiled its highly opulent convertibles Azure and the Continental GTS at a pricey tag of Rs 3.80 crore (ex-showroom) and Rs 2.15 crore (ex-showroom), respectively. Hotel LeelaVentures is planning to come up with 100 luxury Villas in Goa and Kovalam to tap the Ambanis, Mahindras and others. And Jean Claude Beguine, too, is expected to come out with 10 luxury salons and spas called House of Beauty in the next few years to tap the growing market for health and wellness in India.
Ian Hession, regional sales manager, Bentley Middle-East & India, says, ?There would always be customers for something different, exquisite and elitist. Our cars, the Azure and the Continental GTC, fulfill this to satisfy the demands of the ever-growing aspirations of luxury buyers in India.?
Luxury goods today have become a status symbol and people flaunt them with ?lan. The market for high-end spending by the rich, growing at 25%, is estimated to be Rs 2,000 crore. India?s luxury market is said to be the 12 th largest in the world.
?The best part about India?s rich is that they want to make a difference to themselves. They are no more satisfied with mere cars and clothing, they want to look good, they want to feel good, they want to pamper themselves,? said Dharmendra Manwani, CEO, Jean Claude Biguine, India.