Issue 51
The luxury market in India is forecasted to grow by more than 30% in 2017. A report from the DITP office in Mumbai showed that currently it accounts for about 10% of the total retail market, with accessories and watches contributing 47% of the market.
It’s estimated that in 2017, India’s luxury market will be valued at more than US$30 billion, and that by 2025 it will become the world’s fifth largest luxury market.
“Thai entrepreneurs should create brand awareness among the youth and high-end customers, distribute products to smaller cities and use social media to reach customers,” DITP Director-General Malee Choklumlerd said on May 19.
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