Flaunt factor: Rising affluence sees India's market for luxury brands swell

China, which is also an important market for luxury brands, has been impacted due to Covid-induced lockdowns over the past two years

The year 2022 saw brands like Balenciaga, Maison Valentino, and French luxury departmental store Galeries Lafayette announce their India entry in 2022.

Luxury labels also had popular Indian celebrities become the face of their brands. Deepika Padukone was the first Indian onboarded as the global brand ambassador of Louis Vuitton. Priyanka Chopra Jonas was appointed global brand ambassador of Bvlgari.

Reliance Brands and Aditya Birla Fashion and Retail also bought a stake in Indian designers, which included the likes of Anamika Khanna and Sabyasachi, as they bet on the growing affluence of the Indian consumer.

Amit Pande, brand head at