Thanks to the continued projected growth of India’s economy and native wealth coupled with the significance of India's retail sector revenue, the Indian luxury goods market is expected to grow 10-15% in the next three years by billions of dollars. Further fueling the growth of the retail sector is the increase in social media use for Indians, which is playing a major role towards gaining fast and easy access to luxury brands around the world.
During the corona virus pandemic itself there has been a 40-70% increase in social media usage and online e-commerce purchases. The growth in these areas is significant in India compared to other countries around the world, and is a sign of the new reality in luxury retail. A wider population can now afford to purchase luxury goods, which are more often marketed to these consumers via social media, and easily accessible through e-commerce. It’s a win-win for all ends, as demands for luxury goods continue to be readily met.
After speaking with Michael Louis brand founder and CEO Michael Louis Maddaloni, and COO Linda Zuckerman, both expressed the increase in traffic from India to their online store has been “substantial” which is a combination of both the current times/pandemic as well as the increasing interest in the luxury goods market for Indian residents themselves.
The luxury brand Michael Louis has certainly been gaining attention globally, and a lot of interest coming from India in recent months. As a lifestyle brand, Michael Louis focuses on handcrafted small leather goods with headquarters in New York, and production throughout Asia. The brand is quite well known globally with a large following on social media across all platforms, primarily focused on Instagram . With India becoming a hot-spot for tech accessories, Michael Louis has seen significant growth in this key region. The Indian culture has taken a liking to Michael Louis’ quality phone cases and small leather goods with bright colours and exquisite aesthetics. The full collection at Michael Louis consists of leather Phone Cases, Card Holders, Key Holders, BiFold Wallets, and Handbags all handcrafted with genuine leathers ranging from pebbled leathers, to exotics leathers including python, croc, lizard, and stingray. The product assortment available at their website speaks to Indian consumers, looking for a product that truly resonates with their personal style. A notable touch Michael Louis offers is customisation where you are able to personalise any item with your name, initials, or numbers.
Website : michaellouis.com
Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.
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