When I say Maharajas, Mughals, and Nawabs – the first thing that comes to mind is – royal luxury. The connoisseurs of luxury have appreciated the finest jewellery, iconic watches, and fashion in its true sense. India was fondly called the Golden Bird. In pre-independence times, India was the esteemed client of brands like Cartier, Rolls Royce, Chaumet, etc.
Though we come from a 2000 year old lineage in luxury product and service consumption, it has always been a challenge to establish a luxury brand in India.
A country that is largely price conscious, culturally not so pompous in nature, has disproportionate economic status among its citizens, high taxes, and a lack of understanding of the exclusivity and value of luxury products and services are some of the checkpoints in building a luxury brand in India.
But there is a shift in the course of action. According to Knight Frank’s ‘The Wealth Report 2024, the number of ultra-high-net-worth individuals is steadily increasing, and it is expected to increase 50% more by 2028.
People are becoming more aware – the value, pleasure of experiencing luxury, and privilege of association with a luxury brand. Companies are also adapting to the Indian mindset and creating products and services to suit the needs and desires of Indian customers.
GoHype is one such luxury car rental service that aids in fulfilling people’s dreams at an affordable cost.
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