India
Middle Class Is the Game Changer in Luxury Market (LVMH)
Tikka Shatrujit Singh, chief representative in Asia for French multinational LVMH (Moet Hennessy-Louis Vuitton) and advisor to the chairman of Louis Vuitton, has spearheaded the development of Louis Vuitton’s business in India. The high-end leather goods and fashion house currently has four stores in the country.
Tikka Shatrujit Singh, chief representative in Asia for French multinational LVMH (Moet Hennessy-Louis Vuitton) and advisor to the chairman of Louis Vuitton, has spearheaded the development of Louis Vuitton’s business in India. The high-end leather goods and fashion house currently has four stores in the country.
According to Singh, affluent customers in India are very similar to, and have the same needs and wants as, wealthy customers worldwide. The real game changer in the luxury market in India, he said, is the aspiring middle class. “We have to be careful that the brand is always positioned at a level they are aspiring to reach,” Singh told India [email protected] He added that India is very strong in the premium hospitality sector and that there is a huge opportunity for players to make a mark in this space.
via In the Luxury Market, the Middle Class Is the Game Changer | sachaorloffnews.
Asean
India, ASEAN Agree to Review FTA Scope, Address Uneven Market Access
Chief among India’s concerns is that Indian exporters have been denied a level playing field in the Southeast Asian market. Moreover, New Delhi believes that China has taken undue advantage of the ASEAN-India FTA (AIFTA) due to weak rules of origin.
The 8th East Asia Summit (Economic Ministers’ Meeting) was held virtually on Friday, followed by the 17th ASEAN-India Economic Ministers Consultations on August 29.
India
RCEP trade deal hits snag over India’s demand
The 16 Asian and Oceanian countries involved in the regionwide RCEP trade deal have decided to delay the conclusion of that deal until next year.
RCEP negotiations hit a snag as India has grown wary of an expected influx of goods from China, with which the South Asian country runs a massive trade deficit.
India
Thailand woos Southeast Asian tourists with shopping campaign
The programme called “Give Me Five” is set to increase shopping among tourists from Cambodia, Laos, Myanmar and Vietnam (CLMV) along with Indonesia, Malaysia and India.
The Tourism Authority of Thailand (TAT) has launched a new marketing campaign with the hope of luring 200,000 visitors from seven growing markets in Asia.
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