A slowdown in Japan, coupled with weak spending in the US and Europe is forcing luxury goods companies to reassess their strategies. Luxury brands are now shifting their hopes to emerging markets such as China and India. India is no stranger to the luxury industry with its Maharajas and princely states of the past. But today it’s the “new Maharajas – the kings of business” that the uber luxury brands want to target. The uppermost ranks of India’s 1.1bn citizens are among the world’s most affluent. According to Forbes’ annual list of the world’s wealthiest people, India has the most billionaires of any Asian country.
Tom Purves, CEO, Rolls-Royce
How Rolls-Royce became an intrinsic part of India’s princely past;
Why Rolls-Royce sees India as its most important market in the next 10 years ;
The shift East of the epicentre of the luxury industry