Luxury retail in India has been a fascinating journey from a socio-economic perspective. Projected as the next China for luxury goods consumption, the Indian economy has evoked a lot of interest globally given its statistics of some of the highest disposable incomes and increase in the number of millionaires.
Luxury is not new to the country. India was fabled for its riches in pre-British times while the post-British era saw erstwhile royal families and the newly developed industrial classes becoming users of European luxury brands. Indian princes had a penchant for luxury goods from the West. Brands such as Cartier and Louis Vuitton were patronised by the Patiala royal family among others, and many princely families in Rajasthan had their own private collection of luxury cars.