6 People Who Represent Indian Luxury Market
Bangalore: Six years ago, the press predicted that the Indian luxury market would be booming by the end of 2011 as India accounts for only 1 percent to 2 percent of the global luxury market which is just behind countries like Brazil and Poland. But analysts say that the Indian market for high-end goods will quadruple in the upcoming years. Let’s meet the luxurious entities who drive the Indian luxury market.
Tikka Satrujit Singh
Tikka Satrujit Singh, Prince of Kapurthala, is the chief representative in Asia for Moet-Hennessy and advisor to Louis Vuitton, a French fashion house. Satrujit Singh spearheads the development of Louis Vuitton's business in India. He says in the context of what holds India back in luxury markets, that “Poor infrastructure, high real estate costs and foreign direct investment (FDI) regulations create an atmosphere that is unattractive to many high-end brands. There are a lot of brands that are withholding investments”, as told to knowledge.wharton.
His grandfather, Jagatjit Singh, the Maharaja of Kapurthala in Punjab was a traveler and very much fond of swords, turbans, suits and shoes, and elaborates traditional dresses as well. Now his grandson is continuing the luxury trend through being a part of Louis Vuitton. There Singh Maharajas were huge patrons of luxury brands such as Cartier, Van Cleef & Arpels, Mauboussin, Jaeger LeCoultre, Louis Vuitton and Rolls Royce.
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