Results for: Luxury Market

India’s ultra-high-net-worth individual (UHNI) population surged to 13,600 in 2024, ranking sixth globally and third in Asia. A 50% growth is projected by 2028, exceeding global averages. Many UHNIs are diversifying assets abroad and engaging in philanthropy. India also has a large and growing high-net-worth individual (HNI) population, with a significant number under 40.

The luxury market is experiencing a significant shift, with high-end brands like Hermès and Ferrari outperforming while more aspirational brands face challenges due to economic slowdowns and shifting consumer behavior. This article explores the reasons behind this split and analyzes the future outlook for the luxury sector.