India is 3rd most brand conscious country

An improving economy and the rapid opening up of the Indian market has given rise to a group of affluent consumers who are more than eager to adopt the latest fashion trends. According to the latest Nielsen Global Luxury Brands Study, 35% Indians who participated in the survey agreed to buying designer brands. This is the third highest percentage globally with Greece leading the countries with 46%, followed by Hong Kong with 38%. Despite the prevalence of imitation designer-branded goods in some markets, surprisingly more than three-fourth of Indians surveyed do not think that imitation products match up to the real deal.


The top brands that Indian consumers spend on are Calvin Klein (34%), Gucci (25%), Diesel (24%), Christian Dior (16%), and DKNY (10%). India has also made it to the top ten markets globally for some of the brands. India ranks third highest globally for people who buy Gucci products. It ranks sixth for Calvin Klein, ninth for Diesel, and tenth for Fendi for buying these brands globally.


“People are travelling overseas more frequently now and quite likely their interactions with foreign brands have increased considerably. Moreover, foreign brands are synonymous to status and our survey finds that 57% of Indians surveyed buys designer brands as a status symbol. The number of outlets that these brands have opened up in the country in recent times is a testimony in itself of the increasing fashion consciousness amongst Indians,” said Vatsala Pant, associate director, client solutions, The Nielsen Company.


Though 73% Indians feel that designer brands are usually overpriced for what they are, 35% also believe that designer brands are of a significantly higher quality than standard brands. India stands eighth globally which thinks designer brands are quality products and invest in it despite of the price. About 45% Indians think that only fashion conscious people consider buying designer brands.


“There seems to be a huge market potential for luxury brand line extensions into every corner of the home and office and cross-over between brands and products is certainly an opportunity to drive the demand for these products,” added Pant.