Suits

Sale season is on strong for suits in the luxury segment this quarter! Tier I affluent and Tier II ‘aspirational’ buyers are starting to travel abroad to buy their suits, and Indian suit-makers are using attention-grabbing sales to woo them back. And what a sale! Prices on luxury suits have fallen 30 percent.

Has it worked? Well, yes, for the Tier II buyers who aspire to wear a suit to the office everyday.
Over the last quarter, they increased their purchases of luxury suits by 30 percent. After all, they’ll need a suit for their next promotion.

 

Already affluent Tier I buyers haven’t been as convinced. Those buyers have kept their loyalty abroad, and aren’t as swayed by sales anyway. Plus, they’ve already got a closet full of suits. Their buying increased just 10 percent. For the well-heeled, Indian suit-makers will have to think up another trick.

Research by Elizabeth Flock