Business Daily from THE HINDU group of publications
Friday, Oct 13, 2006
ePaper
Business Daily from THE HINDU group of publications Friday, Oct 13, 2006 ePaper |
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Marketing
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Brands Luxury Marketing Council launches India operations Our Bureau
EXTENDING THE SERVICES: Mr Gregory J. Furman, Chairman, Luxury Marketing Council, at a press conference in the Capital on Thursday. - Kamal Narang
New Delhi , Oct 12 Luxury Marketing Council Worldwide (LMC) — apex body for luxury goods and service providers — on Thursday launched its operations in India. LMC would operate through the Luxury Marketing Council of India and has appointed the Chief Executive Officer of Leading Brands of the World, Ms Devyani Raman, to head the Indian operations. "Our aim is to catalyse the growth of the luxury market in India, by bringing marketers of luxury products and services together to explore best practices and critical issues, and share intelligence on customers and market trends. A key objective will also be to identify the important industry and policy issues that effect luxury brands, and collectively work to resolve these issues for the success of all stakeholders. The luxury market in India today stands at $444 million and with a growing GDP and increasing buying power, it is slated to grow annually at 30 per cent," Ms Raman said. "The council has 700 CEOs and CMOs from leading luxury firms across the globe as its members and is now actively looking at the Asia Pacific market to extend its services," said Mr Gregory J. Furman, Chairman, LMC. The affluent consumer segment is set to grow at 13 per cent over the next few years and the market presents tremendous potential for luxury goods and service providers, he added.
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