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India Luxury Market: The world’s richest man has shown interest in taking an entry in India’s luxury brand. Bernard Arnault’s company Christian Dior SE has presented its Fall 2023 collection in Mumbai. With the entry in India’s luxury brand market, the company is looking for billions of rupees.
From sari-inspired skirts to boleros, glittering in silks, with the Gateway of India as the backdrop, the world’s richest man’s company, Dior, led by Maria Grazia Chiuri, the first female creative director, during a show in India on March 30. As far as the color outfit, all of them were featured in Indian pink. Dior Company is the second largest brand of LVMH.
Bernard Arnault’s company has decided to expand its operations in India as it is seeing the rise of luxury brands in India and is planning to raise more funds. In such a situation, this company has a special plan to sell luxury brands in India.
Why is the company taking entry in India’s luxury brand
India currently has 119 billionaires, according to Oxfam, with the country expected to create 70 new millionaires every day between 2018 and 2022. This explains Dior’s ability to bring entry-level buyers into the LVMH realm. 1.4 billion people in the country are going to shop for everything from their cosmetics to perfumes to bags. In such a situation, the company is looking towards big business.
Good market for luxury brand
Deborah Aitken, senior analyst for luxury goods at Bloomberg Intelligence, says that the number of middle-class people among luxury brand buyers is large. In such a situation, India is an emerging market in terms of luxury brands. Along with this, it is emerging rapidly in many other areas.
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