The excess of luxury

India a happening place for luxury brands like Jimmy Choo, Lady Dior bouyed by high net worth individuals - The Economic Times: "Ferragamo CEO Michele Norsa's complaint that India's real estate prices are unreal, making stores even in cities beyond Delhi-Mumbai-Bangalore unviable (a cost-vs-ROI issue also pointed out by Italian luxury apex body Fondazione Altagamma's ED, Armando Branchini), is apt. But technology, as utilised by the stodgy-turned-edgy Britsh brand Burberry, could be the best bet to bypass India's infrastructure glitches.

"Direct, quick and cost effective" is how CEO Angela Ahrendts describes the transformative effect of social media, live streaming and online buying to tap GenNext's "digital natives" worldwide. Norsa's characterisation of airports as "the cathedrals of our time" offered another India-specific alternative. Delhi's huge Terminal 3 duty free shopping area could be a shoo-in for a possible Ferragamo store (and other luxe brands), not to mention Mumbai, Bangalore and Hyderabad. "
Besides, some well-heeled Indians put off price differentials in India are as likely to fly to Dubai, Hongkong or Paris for their luxe fix. Other Indian lux-tag buyers, say from Bellary and Ludhiana, may not care about price tags at all. Effective communication and a targeted approach could also obviate the need for conventional infrastructure. Without any display space, Nigel Harwood, CEO of InterGlobe Established Products, after all, has recently sold 45 custom-fitted small planes all over India (including two in Orissa!) besides high-end cars, motorbikes and even yachts.

"There's Goa and Mumbai, and plenty of space in the Mediterranean," he says evocatively. Understanding how Indians think and buy, therefore, is as crucial for luxury jewellery brands (considering, as luxury aficionado and sugar industry leader Rajshree Pathy pointed out, Indians still care more for the cumulative value of gold and gemstones than design) as for apparel, accessories and lifestyle labels.