MArketing symposium 2008
The good life that was once the preserve of a select club is now going democratized. India has seen a huge growth in the number of high net-worth individuals in the last few years. Research studies estimate that about 1.8 million households are earning over Rs. 5 million or more per year.
In a short span of five years, the number of HNI families has gone up from 20,000 to 53,000. The Figure
is expected to go up to 1,40,000 by 2010. Moreover they are not just concentrated in metros like Delhi, Mumbai, Chennai and Bangalore; even smaller cities like Chandigarh, Jaipur and Nagpur are contribuing to this increase.
High net-worth Indians are brand conscious and are willing to spend substanial amounts on marquee brands. They invest in
high quality services, want the best for their homes and travel in
style. They are spending a substanial chunk every year on luxury
goods & services. A testimony to this is the presence of prominent
luxury brands - Chanel, Hugo Boss, Bulgari, Zegna, Aigner and Louis
Vuiton in India, and there are reports of many other presigious
luxury houses considering their foray into the Indian market.
Furthermore
India has few luxury brands of its own, and the “Made In India” tag is perhaps a
liability on a luxury product. The Indian government is seriously
contemplating the opening up of the
luxury market in India and is likely to
introduce positive measures in this
area.
SCMHRD’s Marketing Symposium 2008 will provide a bird’s eye view of
India’s luxury environment and seek to understand
its mystique from a multi-stakeholder
perspective. It will attempt to understand the
complete gamut of factors pertinent to the
luxury space: the consumer, the market, the
brand, its management and differentiation,
and the impact of a world facing on and off
recession.
It will explore novel concepts
like non-traditional luxury markets such
as rural India, which become key to success
in the long term
It will be an opportunity to learn from India’s leading retailers
and suppliers, as well as high-end consumer product and service
companies in the luxury segment
It will be a forum for international luxury marketers to
communicate with managers of tomorrow as well as potential
customers
It will provide luxury stakeholders an incisive account of
India’s luxury environment
It will offer an optimal networking and relationship-building
platform
SCMHRD invites the best minds in marketing to expound on how
luxury marketing will take shape in India in coming years.