2024 Outlook on India From Texere Country Manager Royden Correa

This year, we anticipate the luxury goods market to yield an impressive revenue of US$7.86 billion, with the cosmetics & fragrances segment taking the lead.

After the pandemic, we've witnessed a significant surge in Indian consumers, initially driven by revenge shopping and subsequently embracing substantial expenditures on luxury goods and experiences. Projections for India's luxury market are optimistic, foreseeing rapid expansion in the years ahead as global brands target Indian consumers.

As India continues to emerge as one of the most compelling economies on the global stage, it is important to remember that it is an exceptionally challenging market, with high entry barriers. A long-term vision and substantial investments are required to be successful.

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