Luxury Brands in India Essay

A high life check off is a brand for which near of products offered atomic number 18 opulence goods. lavishness goods in general refer to products or services which be non fundamental and shag be described as affluence. The three lyric poem which compliment lavishness brands are high price, high quality and prestige. These brands induce and set the seasonal trends and are also capable to pulling all(a) of their consumers with them wherever they go. India being the second-fastest emergence economy is believed to be one of the most sought after market by the high life brands.Designers around the origination have been taking inspiration from Indias rich spirt report with bright Bollywood colours, exotic saris, elegant embroidery and stunning jewellery. The growing make out of Indians in the billionaires club coupled with a evident stand out of the urban elite class has seen many another(prenominal) international luxury giants dress up to woo the Indian customer who has a peculiar farming of status. A big brand like Chanel launched its 2012 Paris-Bombay Collection.in declination of 2011 and Hermes put out a limited-edition line of saris, which instantly drew the adult males attention to the glamour and glitz of India. lavishness brands have well considered the significance of infrastanding Indias spending power and rituals as at that roll are definite times when luxury spending isnt welcome, notwithstanding other times like weddings and festivals which are prime times for oblation high-end, luxury items. As per Millward Br possess Optimor consulting company the top 10 luxury brands are 1. Louis Vuitton- $25. 9 billion, 2. Hermes- $19. 1 billion 3. Rolex- $7.2 billion 4. Chanel- $6. 7 billion 5. Gucci- $6. 4 billion 6. Prada- $5. 7 billion 7. Cartier- $4. 8 billion. 8. Hennessy- $4. 6 billion. 9. Moet & Chandon- $4. 2 billion. 10. Burberry- $4. 09 billion. Features of Luxury market in India ? India is the second fastest growing region in Asia Pacific for Luxury Products. ? The Indian market is anticipate to grow at the rate 25% over next 5 years. ? At $4. 8 billion, the luxury retail market has place for everyone. ? Apparel, jewelry & personal care are the biggest sells in the luxury market. ? Indian Luxury Market is worth $4.9 Billion, it forms only 2% of global ploughshare thus there is a huge scope for expansion. ? There are 103,000 millionaires in India, 16,000 are added each year. ? Luxury and prestige brands such as Rolex, Louis Vuitton and Cartier represent the highest form of craftsmanship and command a staunch consumer trueness that is not affected by trends. Now that India has emerged as a live market for Luxury grasss it is important for these brands to market themselves well to the Indian consumer. close of the Luxury Brands attract a upstart consumer by indicating high brand worth.With introduction of several Luxury brands in India, Luxury Brand marketing has emerged as a significant ancilla ry service. Luxury marketing strategies are developed in a unique way which ensures success just about of the strategies are listed below ? Brand inevitably to be expansive- it require to be full of modernization opportunities for the marketer for satisfying the divergent necessitys of the luxury consumer ? Brand must incessantly tell a towering story heritage & performance or other aspects that goes on to shew the aura of a brand over time. The story always accentuates the identicalness of the brand.? Brand needs to be relevant to the needs of consumers-Depending upon the mindset of the luxury class, it is imperative for a brand to satisfy those needs, whether they be catering to light or functional use etc. ? Brand must always align itself with consumers values-A brand that does not concur with the basic values of a consumers society has a small chance of succeeding because luxury items are forms of expression or identification for a luxury consumer. ? Brand needs to perf orm-Irrespective of which category the brand belongs to, a performance assurance is a must.For all the above mentioned strategies to work there is a strong need for specialized marketing & PR function. These two services have obtain backbone of the Luxury Brands in India. Through my research I shall assay to find out the role played by these agencies and also the activities under taken by various Luxury brands to present themselves in India. A RESEARCH ON air draws pic Assignment on research riddle INTRODUCTION Research can be defined as a formalized curiosity.It is The systematic investigation into and study of materials, sources, etc., in order to establish facts and reach new conclusions Oxford English dictionary. In other words it can also be defined as A process of purpose out information and investigating the unknown to solve a paradox according to Maylor and Blackmon (2005). The topic of my research problem is FASHION SHOWS.My research shall go around around answerin g questions like 1. What brings about the success of these shows? 2. How it affects the sort trends in a society? 3. How it affects the sales of a country? A agency show is an event put on by a fake interior designer to showcase his or her upcoming line of c attracterhing during a demeanor Week.Fashion shows are fun and creative way of set off some of the ethical issues surrounding the shape industry. There is a lot to be considered so it is well worth planning ahead. This is where the latest fashion trends are introduced to the commonwealth at large. In a typical fashion show models walk down the ramp dressed in the fit out created by the designer. Fashions shows enjoy a good amount of media coverage which is congenital for spreading trends across the globe. History In the 1800s fashion parades periodically took place in Paris couture salons.American retailers imported the concept of the fashion show in the early 1900s. The first American fashion show seeming took place i n 1903 in the bare-ass York City insert Ehrlich Brothers. By 1910, large department stores such as Wanamakers in New York City and Philadelphia were also staging fashion shows. These events showed couture gowns from Paris or the stores copies of them they aimed to demonstrate the owners good taste and capture the attention of pistillate shoppers. Magazines like Vogue and Harpers bazaar, whose editors were obsessed with French fashion began to feature more work by American designers.American designs became the new modern trends and made their place in the industry. Many designers began to hold their own shows in private functions but some shows turned out to be mishaps. Some locations were hazardous like that of Michael Kors show where a part of the crown began falling on the models. Mishaps like these made the designers to send the collection to Bryant commons and Fashion Week as we know it today was born. Advantages- Fashion shows gave many aspiring designers a platform to sh ow their collection. It gave opportunity to see the trounce garments and meet the best international designers. It helps in introducing new trends and make people aware of them. It amalgamates different trends and presents an overview of seasonal trend. What brings out the success of these shows? Careful plectron of the theme of fashion show. It should be in sync with the collection that the designer shows. Theme along with collection leaves an important impact on its audience. locale that can accommodate many people and one which can efficiently handle a fashion show. It should have good lighting system, fender area, adequate parking and also easy to find. Proper display of Collection. It should be appealing and attractive. Models that effectively and beautifully carry the designs. Proper advertisement by creating a media buzz. . Worlds most talked about & influential Fashion Shows Berlin Fashion Week Berlin, Germany Haute Couture- Paris, France Sao Paulo Fashion Week - Sao Paulo, Brazil Copenhagen Fashion Week- Copenhagen, Denmark New York Fashion Week- New York, US London Fashion Week A/W- London, UK capital of Japan Fashion Week A/W- Tokyo, Japan Milan Fashion Week S/S- Milan, Italy Paris Fashion Week S/S- Paris, France.