Thanks to increasing awareness on world trends, market for luxury products in Delhi is growing by leaps and bounds. Shrabasti Mallik reports
The setting is the replica of the drawing room straight from the neo-classical age — long legged wooden stools in the corner, multilayered silken embroidered drapes, a long velvet couch on the side and a man, dressed in a fish tail coat, and a women, dressed in an evening gown, sit in a perfect pose. The entire set-up is complete with golden hues which reflect the element of extreme luxury which defined the European standards of living. The setting belongs to brand Elitaire which is one of the numerous brands exhibiting their products at The Indian luxury Expo at DlF Emporio.
What is interesting to notice is the growing demand for luxury items in the Capital as hundreds of people at the expo looked eager to invest in something classy. Right from card holders and a headphone to home furnishing and monster bikes, every thing was highly demanded. Said Preeti Rao, creative director of Elitaire, “Twenty years ago nobody could imagine India, let alone Delhi as a luxury destination because that time the country did not have the capacity to pay. Now the scenario has changed with the change in global economy. There has been a tremendous shift in the mentality of Delhi buyers, too. Earlier people used to save money and spend it later but the present generation believe in living life in the present and indulge in luxury.”
International luxury brands have always had their buyers but people have become more aware about what they want with increasing exposure to the outside world. People are now, more than ever, wanting to customise whatever they wish to buy and this demand has led to the coming up of a few Indian luxury brands, too. These brands not only cater to the luxury factor by importing their stuff from Italy and Hong Kong but also customise it. “It is luxury and not everyone can afford luxury items. So when someone invests in anything sophisticated they would want value for money. We customise products as we feel that anybody who is shelling out a big amount should get something he can flaunt,” said Harsheen K Arora, director of strategy and operations, The V Renaissance.
Thinking of You is an Indian luxury brand which provides a complete package for any celebration — right from the cake to the gift (and its wrapping), providing musicians and decoration of a venue. “People now want to get everything done at the press of a button and that is what we provide,” said Chirag Sharma, chief operating officer, Thinking of You. From leather card cases, priced at Rs5,000 each, to a single piece of room lighting, priced at Rs45,000, everything is selling off the racks.
Monster bikes priced at Rs4 lakh were also in demand. Even bike accessories, both local and international, like Alpinestars and KYT, have found a market in Delhi. “People are aware now and everything they do, they want to do it in style. Even when it comes to safety, they do not compromise on the glam factor,” said Sarabjeet of Moto Madness. Even though Delhi has been identified as the next big market for the consumption of luxury products, it still has a long way to go. “The market has definitely boomed in the last two years. With the growth in economy and the increasing awareness on global trends, the luxury market will expand a lot more,” said Rao.