Rising Buying Power

The rise of Young Millennials and Gen-Z consumers is transforming the concept of luxury, emphasizing individuality and making bold style statements. With increasing purchasing power among the largest generational cohort, comprising around 377 million individuals in India, they are driving the growth of luxury brands.

India's Gen Z spends $860 billion, and this figure is projected to reach $2 trillion by 2035. The "You Only Live Once" (YOLO) mindset coupled with digital influences and exposure, encourages consumers to indulge in ongoing luxury purchases. Aspirations among the growing middle class, expected to reach 583 million by 2025, are fueling luxury consumption in Tier II and III cities.