KDDL – Times of Luxury

As per past global data, consumer spending especially in the high-end luxury segment explodes as a country’s per capita income rises from lower middle to upper middle income level. India’s present per capita income is $2500 (where China was in 2007) and is expected to double in 6-7 years. Concurrently luxury consumers in India are expected to grow @ 17% CAGR to 5x in 10 years. Indian consumer data is also validating this trend with growth in sales of upper end segments outstripping mass items.