“Luxury
is the necessity that begins where necessity ends”- Coco Channel
Donning
an Armani suit or a Gucci dress while carrying a Louis Vuitton and riding in a
Mercedes-Benz, now that would be life! Living a luxurious life is everyone’s
ultimate goal in life, a concept that has turned into a full-fledged market
today. Luxury brands, a part of the huge business market, yet apart from
anything existing. According to traditional definition luxury is a state of
great comfort or elegance, especially when involving great expense or an
inessential, desirable item which is expensive or difficult to obtain, or more
simply put a pleasure obtained rarely. Now there is a whole a market for Luxury
Brands making that rare pleasure slightly more obtainable, of course it is for
the elite, but then again each one of us is striving to get there, creating a
huge demand for Luxury Brands.
The
Luxury market is an all encompassing industry which includes fashion,
accessories, automobiles and much, much more. In the economic sense luxury
goods or luxury brands are something for which as demand increases as income
does. Luxury Brands on the other hand is regarded as images on the minds of
consumers who associate that image or brand with fine quality, something rare,
extraordinary, exquisite and pricey. Luxury Brands have gained memento over the
years, and have emerged in every branch of industry, from fashion to automobile
to travel every business of Luxury Brands attached to them.
Abhay
Gupta, Founder and CEO, Luxury Content and also the recipient of Luxury Retail
Icon, 2012 was at Whistling Woods Neeta Lulla School of Fashion sharing some
useful insight on Luxury Brands. According him to quality and knowledge are the
keys to evolve as a professional in the luxury market segment.
A Luxury Brands
are looking for different skill sets in a resource and the learners should be
knowledgeable equipped. Expanding your thinking and knowledge across different
segment of business will help you evolve as a professional in the Luxury
Market. The Hybrid Luxury Market is evolving enormously and creating enviable
employment opportunities for equipped professionals. Moreover, Luxury Market
and Brands are immune to recession and the industry grows at an average of 20%
every year.
Abhay
Gupta is also the first one to establish India’s firsts Luxury Boutique
Business School. Luxury Brands in India still have to gain more strength and
root themselves into stronger grounds. In India consumers still tend to prefer
international brands, but the vast and elusive industry has been in an ever
changing mode.
