GroupM partners India's first-ever luxury exhibition

The Luxury Festival, being jointly organised by GroupM and Quintessentially Lifestyle Services, will be hosted in March 2015 and will bring global luxury labels under one roof

BestMediaInfo Bureau | Delhi | August 28, 2014

The Luxury Festival, India's first-ever luxury exhibition, will take place during March 20-22, 2015, at Pragati Maidan, New Delhi. The event is being jointly organised by Quintessentially Lifestyle Services India and GroupM (a WPP company), with Confederation of Indian Industry (CII) as the trade partner.

The exponential growth of the luxury market in India, coupled with the increase in the rich, upper-middle class and HNI community, has led to global luxury brands vying to find a space in the Indian market. The Indian luxury market is growing at a CAGR of 18% and is estimated to reach USD 15 billion by 2016. Over the next 5 years, the ultra-high net worth households (ultra HNHs) in the country are expected to triple to over 3, 29,000 households. Keeping this burgeoning trend in mind, The Luxury Festival presents a unique platform providing participating brands with the opportunity to network with purveyors of luxury brands, key decision makers and influencers in India.

Amit Dutta, Managing Director, Quintessentially Lifestyle Services India, said, “The three-day extravaganza will showcase global iconic luxury brands in an exhibition format to the connoisseurs of luxury. The Luxury Festival will welcome invitees from across India, including industrialists, socialites, entrepreneurs, corporate magnates, private wealth clients, luxury automobile owners and private air charter members.

CVL Srinivas

“The Luxury Festival will provide an excellent opportunity for global brands to penetrate into the Indian market and we are very proud to bring this concept to India,” said CVL Srinivas, CEO, GroupM South Asia.

The event will see attendance from senior executives of global luxury brands, dignitaries from foreign embassies, media representatives and industry experts.

Amita Sarkar, Deputy Director General & Head - Services Council, CII, stated, “The luxury market in India has seen an exponential growth in the past few years, and we expect this trend to continue, keeping in mind the stabilisation of the economy, as well as the increasing number of HNIs in the country. The luxury sector must also be seen as a growth driver, as it has the potential of bringing about an inclusive growth, through manufacturing, skilling and employment and its 'trickle down' effects. CII has been undertaking several initiatives for the development of the sector through policy dialogues, stakeholder engagement and meets.”

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