Insights into the luxury fashion startup industry in India

Abstract

Our research ventures to unravel the principles and operating models applied by few startups in luxury goods market in India in the face a steeply rising demand for exclusive, heard-in-fashion-fairytales products. We proceed by first analyzing the attributes of luxury goods industry and then we go on to analyze the trends of the luxury goods industry in India. We then bring in the context of startups who operate in this industry. We study their business models, making a comparative analysis of them. We study how have they been able to charge premium and maintain the exclusivity that these products sell on, despite making accessibility easier and availability higher among the masses. India is a veritable bedlam for the luxury brand in the upcoming decade and will surpass many leading foreign markets in the same. In the light of this opportunity, in this light, we study how exactly aspiring luxury brand startups leverage the favorable conditions. Aggregating our observations, we have brought in unique recommendations on the way forward. We have identified gaps left in this growing market in India and how more luxury startup models can be developed to fill them.