The Luxury Landscape in India: Consequences for the Wine Sector

Kartik Dave, Glyn Atwal and Douglas Bryson

Chapter 7 in Luxury Brands in Emerging Markets, 2014, pp 85-95 from Palgrave Macmillan

Abstract: Abstract The phenomenon of luxury has consistently been an integral part of human aspirational displays and behaviours. Passion for luxury consumption has been recorded in ancient literature, found in archaeological discoveries, and firmly continues in today’s societies globally. In a postmodern era, the demand for luxury brands is no longer principally confined to the developed world, but is visibly apparent in emerging markets. Asia’s soaring importance as the market for luxury has been well documented, and India has been considered as a high-growth market with long-term potential. The Indian luxury market is indeed thriving; in 2011 it was worth US$ 5.8 billion and is projected to reach US$ 14.7 billion in 2015 (CII and A.T. Kearney 2011).

Keywords: Foreign Direct Investment; Conspicuous Consumption; Luxury Consumption; Luxury Brand; Wine Drinker (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33053-6_8

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DOI: 10.1057/9781137330536_8

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