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Why Are Big Sharks Expanding Aggressively In Indian Luxury? Reliance Industries the Tata Group and the Aditya Birla Group are major players in the business world and dominate major sectors whether it’s Telecom Petroleum or FMCG. These big sharks don’t enter any sector without proper research. Now these companies are competing to dominate the Indian luxury retail market investing crores of rupees. One of the most renowned and reputed conglomerates the Tata Group launched Tata Cliq in 2016 when the think tanks of the company realized the fundamental gap in the country’s retail landscape. What Did The Tata Group Say On This? According to Gopal Asthana CEO of Tata Cliq said “While the demand for luxury products was growing steadily across the country access remained limited due to the scarcity of premium retail spaces.” To bridge the gap the Group created a differentiated platform targeting specific customers. The timing of the company played a crucial role as Indian consumers were getting more digitally savvy that time with ordering high-value products online. Today Tata Cliq has more than 1500 premium luxury global and Indian brands including beauty products and fragrance fashion jewellery home fitness and watches. Why India’s Luxury Market Is Gradually Moving Away To Generational Affluence? Notably the country’s luxury market is shifting its focus from only wealthy families to the growing group of aspirational consumers who like to travel new places often and have higher spending power. These companies have cracked the code and know that India has world’s largest youth population and a major portion of this is first-time luxury buyers. Has India Had Luxury In The Country For A Long Time? According to Ashok Som Professor of Global Strategy ESSEC Business School back in the era of kings maharajas and princely states always promoted luxury goods and lifestyle “For Indian consumers luxury is not new compared to other markets that either came out of poverty (Singapore and Hong Kong) or where it was not allowed for religious reasons (in more conservative nations) or geopolitical ones (communism in China or the effects of war in Germany and Japan)” he said. How Luxury Businesses Of Tata Group Aditya Birla Group And Reliance Differ Form Each Other? Sharing his views Abhay Gupta Founder & CEO Luxury Connect Business School said that Tata group with its ‘heritage and trust’ dominate businesses like Taj Hotels Tanishq and Jaguar Land Rover. “They have a very long-term approach and the trust factor helps in having a presence across every possible sector that exists in luxury” he said. Aditya Birla Group with its decades-long fashion and retail background it bought Madura Garments in 1999. “They have a very good understanding of the business and are well-positioned to get a healthy share of the consumer who is moving up” Gupta said. Investing in Indian designers such as Masaba Gupta Tarun Tahiliani and Shantnu & Nikhil has enhanced the effectiveness of its distribution network. To expand its luxury brand presence Aditya Birla Fashion & Retail has formed a strategic alliance with France’s Galeries Lafayette to establish luxury department stores in India. Reliance Industries made a big move and bought Genesis Colors – which was distributing luxury brands like - Jimmy Choo and Armani. Currently Reliance has more than 50 international brands in the luxury business. Not only that it has a major presence in real estate—through its retail luxury destinations Jio World Plaza and One Jio Drive. Asthana emphasises that for Indian consumers luxury is more than just access to international brands. He stated It involves authenticity cultural significance and the value associated with a purchase. When a product is personalised and accompanied by engaging storytelling it creates a reason for consumers to connect with and buy it. “Tailoring the message to the Indian market is crucial to establishing a deeper connection and that could be through collaborations with local designers or narratives to link products to Indian traditions or occasions. For instance Bvlgari introduced the kada and mangalsutra for Indian consumers” Asthana added.