Luxury apparels depict a certain status symbol of individuals who splurge discretionarily and have high purchasing power. India exhibits a diversity of cultures, and is one of the world's most lucrative markets for luxury brands. The success of luxury brands is majorly determined by their ability to innovate and perceive the complexities of the Indian market. The latest fashion trend offered by luxury apparel brands has led to increase in popularity among millennials. Rise in use of advanced digital technology and media for product marketing in developing economies has boosted the growth of the luxury apparels market in India over the past few years.
Increase in investment for product innovation to creating innovate designer apparels is a key factor that drives the growth of the luxury apparels market. This element creates a robust framework for the luxury apparel market in India. Strong economic growth in India and surge in tech-savvy consumers have led to increase in urbanization and higher disposable incomes, which in turn have propelled the growth of the luxury apparel market. Moreover, increase in retail presence of luxury brands along with new brands entering the country has resulted in strong performance of luxury apparel brands. However, heavy taxation, lack of suitable infrastructure, and availability of counterfeit brands restrain market growth.
Conversely, increase in penetration of e-commerce through social media platforms on digital devices has enabled consumers to choose from a wide variety of options. In addition, it serves as a convenient option for the buyers, since they are provided delivery of the product at their door step with easy return facility. These factor offer remunerative opportunities to luxury apparel manufacturers to grow their market base in the country.
The India luxury apparels market is segmented based on material, mode of sale, and gender. Depending on material, the market is categorized into cotton, silk, leather, denim, and others. By mode of sale, it is segregated into online and offline. On the basis of gender, it is bifurcated into male and female.
The major players in the market include Ralph Lauren Corporation, Christian Dior, Coach, Inc., Tommy Hilfiger USA Inc., Burberry Group, Inc., Nike, Inc., Guess, Inc., Juicy Couture, CANALI S.P.A., and Gant AB.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides an extensive analysis of the current and emerging trends and dynamics in the India luxury apparel market.
- In-depth analysis is done by constructing market estimations for the key market segments to identify the prevailing market opportunities.
- This study evaluates the competitive landscape and value chain to understand the competitive environment across the geographies.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
India Luxury Apparels Market Report Highlights
| Aspects | Details |
 By Material |
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 By Sales Channel |
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 By Gender |
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 By Country |
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 Key Market Players | CANALI S.P.A., Christian Dior, Nike, Inc., Burberry Group, Inc., Tommy Hilfiger USA Inc., Ralph Lauren Corporation, Gant AB, Guess, Inc., Coach, Inc., Juicy Couture |
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