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Friday, 25th November, 2016 The Leela Palace, New Delhi
India Luxury Summit 2016India Luxury Summit 2016
Knowledge Partner
The Associated Chambers of Commerce and Industry of IndiaThe Associated Chambers of Commerce and Industry of India
4th4th
For luxury goods companies, the strength of the dollar has meant
increased purchasing power for US consumers and higher import prices
for consumers in other countries, especially those in emerging markets.
However, the dollar has retreated since the start of 2016, providing
relief to emerging markets that had boosted their own interest rates in
response to dollar strength.
The world’s 100 largest luxury goods companies generated sales of
$222 billion in financial year 2014, 3.6 percent higher year-on-year.
The average luxury goods annual sales for a Top 100 company is now
$2.2 billion.
Over the next year growth in India will remain strong, although the
country still has challenges to overcome before it becomes a major
market for luxury brands. Japan is also set to perform well,
particularly as it boosts tourist numbers ahead of the 2020 Tokyo
Olympic Games. South Korea, meanwhile, will see further steady
growth as the market matures further.
We are now entering the second half of the decade, which we believe
should be characterised by discipline. The external environment will
change in a number of crucial areas: an evolution in consumer buying
behaviours; the merging of channels and business model complexity; an
increase in international travel; the growing importance of the millennial
consumer; and the continued impact of the global economy. All of these
factors create opportunities for the luxury goods sector.
There are four key elements of growth for luxury goods companies, and
if brands bring disciplined, long-term investment to these areas and
focus on them, they will be well-placed to succeed. In addition, brands
will also emerge as ‘winners’, in the eyes of the consumers, investors
and stakeholder communities, if they manage carefully four other
factors in the market: reputational risk, regulation and stakeholders,
inertia and external events.
Global Economic Outlook
Source: Deloitte Report on Global Powers of Luxury Goods 2016
The Indian MarketThe Indian market has a lot of potential. Despite this, among the
emerging markets it is the country with the smallest luxury goods market
share. India has a 1.2 Bn population, 17.5% of the worldwide
population: among them 125,000 people are HNWI (High Net worth
Individuals) and 7,700 are UHNWI (Ultra High Net worth
Individuals).
The growth of the Indian luxury market is driven by an ever-increasing
base of ultra high-net worth households (HNHs), which is likely to
grow at a CAGR of 27 per cent through 2017-18.
Two Indian Brands Gitanjali Jeweller & PC Jeweller have been listed in the top 100 Luxury Brands in the World.
The Indian luxury market grew at a healthy rate of 30 per cent in 2013
to reach USD8.5 billion in 2013. It is likely to continue growing at a
healthy pace to reach USD14 billion by 2016. The sector includes luxury
products such as apparel, accessories, home decor, pens, watches, wines
and spirits, and jewelry; services such as fine dining, concierge services,
travel, hotels and spas; as well as assets such as fine art, yachts, and
automobiles.
Growth was driven by lifestyle segments such as fine dining, gadgets,
hotels, jewelry, personal care and wines; growing at 30 to 35 per cent
as the luxury consumer refused to compromise on the ‘luxe' life.
The most important centers to do shopping continue to be Delhi and
Mumbai, but different cities are becoming more important thanks to their
large base of potential luxury consumers: Kolkata, Chennai, Hyderabad,
Bangalore and Pune.
Who Should Attend• High Net Worth Individuals• Automobile Companies• Fashion Designers• Investors• Luxury Hotels• Luxury Spas Companies• e-Commerce Companies• Cosmetics and Perfume• Resort Developers • Chartered Aircraft Companies• Brand Managers• Luxury Real Estate Developers• Importers and Distributors• Marketing Companies• Advertising Agencies• Communication Firms• Craftsmen
• Luxury Companies
• Major Fashion Houses
• Jewellers
• Liquor and Wine
Companies
• Watch Companies
• Banks
• Private Equity
• Credit Card Companies
• Retailers
• Management Consultants
• Entrepreneurs
• Shopping Mall Developers
• Corporate Houses
• Travel & Tourism
Companies
Source: ASSOCHAM- Yes Bank Report India Luxury Top Management Survey 2012
Key Issues•
• Higher import duty ranging between 30-40% comparable to other
developed markets is a big barrier and an impediment for the growth
of luxury sector in India compared for leather goods in China it is
around 17%, in Japan 11% and no Customs Duty in Singapore and
Hongkong.
• e-Commerce impact on Retail Luxury Sector and the future trends.
• Implementation of GST regime and its impact on the Indian Luxury
Industry.
• Educational institutes imparting knowledge and information on the
Luxury Industry in India.
• Educating and outreach programs for creating awareness for Luxury
sector in India.
Lack of efforts in building Luxury Brands in India.
Corporate Office: 5, Sardar Patel Marg, Chanakyapuri, New Delhi-110 021. INDIAPhone: 011-46550555 (Hunting Line) • Fax: 011-23017008, 23017009
www.assocham.org
THE ASSOCIATED CHAMBERS OF COMMERCE AND INDUSTRY OF INDIA
Partnership Opportunities
Delegate Registration Fees: Rs. 4,000/- Per Delegate
Himanshu RewariaAssistant DirectorM: 9654251077
For Partnership/Sponsorship, please contact
Dheeraj Kumar PandeyExecutive
M: 8285737834E: [email protected]
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GoldPartner
4,00,000 Yes Yes 3 Yes Yes Yes 4
PlatinumPartner
6,00,000 Yes Yes Yes Yes 4 Yes Yes Yes 6
SilverPartner
2,00,000 Yes Yes Yes 1 Yes 2
Yes
