Last week, at ESSEC Luxe Alumni, we had the honor of hosting Professor Abhay Gupta, recently recognized as one of the Top Luxury Speakers Worldwide for 2025 by the World Luxury Chamber of Commerce. He took us on an insightful and captivating journey through India's luxury landscape—from its rich ancestral craftsmanship to the immense potential of its rapidly expanding market.

Here are some key takeaways from this fascinating session:

🔹 India’s Deep-Rooted Luxury Heritage
Indian royalty has long embraced luxury, shaping global brands like Cartier and L.Vuitton.

🔹 A Booming Luxury Market
Currently valued at $60 billion, India’s luxury market is set to reach $200 billion by 2030, driven by:
 1️⃣ Fine wines & spirits
 2️⃣ Jewelry & watches
 3️⃣ Luxury automobiles
 4️⃣ High-end experiences (real estate & personal care, growing from $17B to $30B by 2030)
 Luxury beauty & skincare are among the fastest-growing segments.

🔹 The Rise of Wealth & a New Elite

• India ranks 3rd globally for billionaires (185 in 2024, +21% YoY)
• 6th for UHNWIs (13K with $30M+ net worth)
• 1.6M millionaires by 2026
• A new high-income class of 30M people by 2030

🔹 Luxury Demand Expanding Beyond Major Cities

• 45% of Indian HNWIs live in non-metro cities.
• 65% of non-metro residents purchase luxury more frequently than 53% in metro areas.

🔹 Limited Physical Luxury Retail, E-Commerce on the Rise
India has only four major luxury malls:
 📍 DLF Emporio (Delhi)
 📍 Chanakya (Delhi)
 📍 UB City (Bangalore)
 📍 Jio World Plaza (Mumbai, 2024)
With limited brick-and-mortar luxury spaces, e-commerce is booming, led by Ajio Luxe (Reliance) and Tata CLiQ Luxury (Tata Group).

🔹 Galeries Lafayette’s Grand Entry in few weeks in Mumbai (March 2025) : join us on March 27th as Philippe Pedone (International Senior VP) shares insights on this game-changing expansion.

🔹 Indian Luxury Brands Gaining Global Recognition

• 6 Indian jewelry brands rank among the Top 100 Global Luxury Brands (Titan, Malabar Gold…).
• Designers like Sabyasachi, Rahul Mishra, and Forest Essentials are making waves internationally.

🔹 Key Growth Drivers
 ✅ Societal transformation
 ✅ Digital boom (1B internet users, strong social media presence)
 ✅ Wealth creation (100+ unicorns)
 ✅ Global exposure (37M+ diaspora, 1.5M students overseas)
 ✅ Regulatory improvements

🔹 Challenges for Global Brands
 ⚠️ Regulatory complexity
 ⚠️ Talent shortages in luxury retail
 ⚠️ Infrastructure constraints
 ⚠️ Market fragmentation

🔹 5Cs for Success in India’s Luxury Market
 💡 Categorization – Understanding consumer segmentation
 💡 Contentment – Delivering exceptional customer experience
 💡 Customization – Localizing and personalizing offerings
 💡 Consistency – Ensuring brand positioning & pricing alignment
 💡 Communication – Building awareness & strong relationships

💬 A thought-provoking message from Professor Abhay Gupta:
"The Indian luxury market is not just an opportunity—it’s a movement! Are you ready to be part of it?"

📖 To explore more, check out Professor Gupta’s latest book: The Incredible Indian Luxury Bazaar, available on Amazon.

🔗 Follow him here:
 🌐 www.abhaygupta.in
 💼 LinkedIn

A huge thank you to Professor Gupta and all participants for this insightful discussion.

🚀 Next session: March 27th
"INDIA: THE NEW LUXURY ELDORADO OR A COMPLEX MARKET TO DECODE?"
With insights from KANTAR, GALERIES LAFAYETTE, SABYASACHI, AMI & KITCHEN GARDEN.