Homeluxury bag → Saris de Hermès and...

Saris de Hermès and Weddings of Chanel: luxury conquers India

But it's not all pink. These brands are also stoned on the road: restrictions on multi-brand shops are maintained in India, with a foreign participation limit of 51%, as stipulated in 2012, when the sector was opened to foreign capital. In other words, the firms that want to settle there have to associate with the Indians. Hence many fear the dilution of their name and the damage their business models may suffer. And then there's the high tax on luxury imports, which amounts to 30 or 40%...

Hermès was the first to be encouraged to open a street store in Bombay, in 2011. But major luxury firms are usually gathered in five-star hotels and high-end shopping centers such as palladium, Bombay, DLF Emporio, Delhi, and UB City, Bangalore.

BOLLYWOOD EN MADRID

We do not know much about India in these parts, beyond the fact that its cows are sacred and that there is the Taj Mahal. But soon we will have an opportunity to learn more about Indian folklore and the behavior of its millionaires, as all Bollywood will land in Madrid on the occasion of the annual International Indian Film Academy (IIFA) awards.

Saris de Hermès y bodas de Chanel: el lujo conquista la India

Además de al cine, la capital española se acercará a la música, la moda y la cultura indias. Del 23 al 26 de junio se celebrarán tres galas en Madrid: la de los premios, la musical IIFA Rocks, en la que participarán los mejores artistas de la industria de la música india, e IIFA Stomp & Rang Jam, una exhibición de tendencias urbanas (música electrónica, moda…) . También tendrá lugar el Foro Global de Negocios que organizan la Federación de Cámaras de Comercio Indias y la Cámara de Comercio de España.

The IIFA prizes can bring thousands of tourists to Madrid (in India there is already a middle class of 300 million people with increasing economic resources to undertake international travel). According to the Madrid City Council's forecasts, 15,000 people will arrive, which will have an economic impact of more than 10 million euros, which will revert directly to the city. "more than 500 international journalists will cover the event, bringing the image of Madrid to a huge projection not only in India, but throughout Bollywood's area of influence, which includes parts of Southeast Asia, the far East and Europe," says a spokesperson for the institution.

In addition, a direct airline between Delhi and Spain is planned to be opened in 2016, according to the Madrid City Council. A chance at least for Spanish luxury brands (there are some) to position themselves, if they have not already done so, in the buoyant Indian market.

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