Will global brands buy the India story…

02 Apr '08

3 min read

Fast growing incomes & affluent life styles have contributed to India being named the 3rd most brand conscious country across the globe. But is India on the global radar for designer brands, is a highly debatable question.

The reputed Nielsen Company conducted an online consumer confidence and opinion survey, the largest half-yearly survey of its kind, aimed at gauging current confidence levels, spending habits/intentions and current major concerns of consumers across the globe.

Indian consumers have been ranked 3rd across the globe in their preferences for designer brands, behind Greece & Hong Kong & ahead of USA and France.

Thirty five percent of all Indians who partook in the survey, confirmed to buying designer brands. They disclosed their preferences to buying Calvin Klein (34%), Gucci (25%), Diesel (24%), Christian Dior (16%), and DKNY (10%).

A 2007 Asia Pacific Wealth Report, released by Merrill Lynch and Cap Gemini, says that India has recorded the world's second fastest growth in the number of high net-worth individuals (HNIs) at 20.5 per cent, making it a lucrative luxury market.

A report of Global Consulting firm A T Kearney has placed India at the top of a list of emerging markets for global retailers in its 2007 Global Retail Development Index.

Another statistic from a CB Richard Ellis report 'How Global is the Business of Retail', which maps the global footprint of 250 of the world's top retailers pegs India at 44th in the list of places for international retailers looking to expand, while China is way ahead at nine.

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