Gucci leads the pack in India
With high street fashion now coming out of the five star deluxe hotels, Indians with greater discretionary incomes are making their tryst with these premium brands.
Fashion brands are a big rage in India. Increasingly, they are steeping into the consciousness of the upper middle class. With high street fashion now coming out of the five star deluxe hotels, Indians with greater discretionary incomes are making their tryst with these premium brands.
So what do they choose? While people across the globe prefer to don the likes of Ralph Lauren and DKNY, almost 24 per cent Indians rate Gucci as the most popular designer brand. Further, brands like Christian Dior and Versace take the lead amongst Indians due to the glamorous celebrity image. Among designer products, sunglasses are the most sought after, followed by belts and stationery by Indians, while in the Asia Pacific region, shoes and wallets are the favourite products.
This was reported by a global online survey of 23,500 consumers in 42 countries conducted by AC Nielsen.
According to the survey, Giorgio Armani accounts for the maximum share in the Asia Pacific region, followed by Gucci and Louis Vuitton. For the purpose of brand longevity, these fashion houses have been investing in the fast growing markets of Asia, United Arab Emirates (UAE) and Russia.
Speaking of the sustenance of these brands in the Indian market, AC Nielsen South Asia, Customised Research Executive Director, Sarang Panchal said, “Due to factors like Bollywood stars being accepted in the west, improved economic conditions and booming tourism, designer brands are being welcomed.”
Panchal reasoned that for these brands to survive, they would have to ensure that the values their designs represent would transcend cultures and age groups because they continuously enter diverse markets.
In the global market, Gucci, Christian Dior and DKNY are presently in the top slot among the world's internet consumers. While Ralph Lauren is the most coveted brand among US consumers, approximately 15 per cent Chinese prefer Chanel.
The Asian market is making the world top ten list for brands like Prada, Celine and Ferragamo and outperforming their counterparts in Europe and the US in terms of current product and ownership of these brands.