Just as luxury brands across the board, from Mulberry to Louis Vuitton to Zegna, start acknowledging the slowdown in sales in China, the erstwhile engine in luxury’s global growth, another emerging market has – well, emerged, to take its place. Enter India! According to a very interesting podcast from Euromonitor, the growing number of high net worth individuals on the subcontinent, combined with new government regulations and Bollywood, are creating perfect storm conditions for luxury. Yet I don’t really feel blown away.
© The Financial Times Ltd 2013 FT and 'Financial Times' are trademarks of The Financial Times Ltd.