Riding the luxury Waves : Indian Handbags
India has been no stranger to branded luxury. The shopping lists of Indian royalty are still remembered long after princely titles have been reduced to mere courtesy. India’s traditional luxury market — which includes personal luxury goods such as bags, watches, jewelry, apparel, accessories, fragrances and cosmetics etc. is valued at about US$6 billion and growing at 15% to 20% a year.
Part of the problem with Indian market is that Western luxury brands don’t seem to understand Indian consumers. When they first enter India, they create splashy advertising campaigns targeting the elite. But the results are observed to be poor, largely because this customer segment consists of frequent international travelers who overwhelmingly prefer the experience of purchasing Western luxury goods abroad, where brands offer them wider choices, better services and more competitive pricing than what’s currently available inside India.
Apparently, the new luxury segment is observed to be growing with the culture of Indian Luxury Handbags. Indeed, in order to succeed in India, luxury brands need to localise their marketing strategies. This goes further than just putting an Indian print on a bag or collaborating with a local celebrity. A multitude of cultures, languages, religions, festivals, colours and tastes make up this land of luxury buyers. So, it’s about understanding the difference between the nature of a Punjabi customer and the different nature of a Gujarati, and speaking to each of them in the specific manner that they respond to.
For example, luxury brand Montblanc — which successfully operates nineteen retail points across first, second and third tier cities in India — has regionalised all their marketing material.
When creating invitations for potential consumers in the Punjab in northern India, for example, the invitations are more lavish and the language more boisterous than those sent to consumers in southern India.
Demand for Indian luxury fashion is akin to India’s insatiable appetite for handbags. Both are bound up with celebrations, parties, offices etc. which help the industry thrive longer.
Drivers for Growth of Indian Luxury Handbags:
- 200% increase in the number of HNIs
- Awareness and consumption has been the influx of high-end fashion magazines in India.
- A unique Indian interplay of supply and demand factors has determined the current penetration levels and growth of certain categories within the overall luxury segment.
- India’s expanding upper and upper-middle classes are well-accustomed to international travel and now want the same access to high-end fashion back home.
Some Key Features to Indian Luxury Handbag Business:
- Differentiate the bags on their design sensibilities, contemporary styling, clean silhouettes, and the use of vegetable tanned leather, which add to its positioning as a handcrafted, eco-friendly and natural brand.
- Withstand the deluge of international luxury bags to create products using the country’s strong heritage of craftsmanship.
- Have more classic designs and basic colours like browns, blacks, and beiges, which would appeal to mature women, and also, with a splash of bold colours like neons, along with zippers and chains, the bags can be a count for young and trendy consumers.
- Indian Cultural Paintings can be depicted.
- Murals, MeenaKari as well as the Jute Finish would make the bags excel.
- The Embroideries like Zardozi, Lakhnawi, Gujarati laces might become a tool to successful business.