Latest news with #AjioLuxe
India.com
03-08-2025
- Business
- India.com
Gen Z In India Leading the Luxury Market Boom: Affording Premium Experiences With Credit
New Delhi: Gen Z in India is rapidly changing the way luxury is consumed—making high-end goods and experiences more accessible than ever before. This shift is driven by rising incomes, digital credit options, and a strong desire for unique experiences and stylish brands. Gen Z's Growing Financial Power Spending Muscle: In 2024–25, Gen Z alone accounted for about 43 percent of India's total consumer spending, with their direct expenditures reaching around $250 billion a year. Their influence is reshaping retail and luxury markets across the country. Rising Incomes: The steady rise in disposable incomes among India's young urbanites is fueling this trend. By 2027, India is projected to have 100 million affluent individuals, many from Gen Z and millennials, driving demand for premium goods. The Luxury Market Boom Luxury Market Value: India's luxury market hit $17.67 billion in 2024 and is projected to surpass $85 billion by 2030, growing at about 3.17 percent annually. Affordable Luxury: 'Affordable luxury' products—premium brands within reach—are booming. Urban Gen Z and their peers in smaller towns are key drivers, as platforms like Tata Cliq Luxury, Nykaa, and Ajio Luxe expand high-end product access beyond the metros. Digital Credit Tools Make It Happen EMI and BNPL: Easy access to Equated Monthly Instalments (EMIs) and Buy Now, Pay Later (BNPL) has made it possible for young shoppers to own expensive gadgets, take luxury holidays, buy designer clothes, and invest in wellness experiences without paying the whole amount upfront. First-Time Borrowers: According to TransUnion CIBIL, 41 percent of all first-time borrowers in India are Gen Z. They are comfortable making purchases and managing payments through digital platforms. E-Commerce, Influence, and Conscious Choices E-commerce Reach: Online luxury retailers are tapping into smaller cities, where Gen Z is quickly becoming a significant customer group. Influencer Impact: Over 25 percent of Gen Z luxury buyers have made purchases via Instagram or were influenced by social media personalities and live commerce events. Experience Over Ownership: Many Gen Z consumers value unique experiences (like travel or live events) as much as, or more than, owning luxury goods. The option to rent or buy pre-owned luxury products is also gaining traction. Ethics, Sustainability & Financial Awareness Conscious Consumption: Today's young luxury buyers increasingly look for brands that are ethical, transparent, and committed to sustainability—reflecting strong values alongside craving for exclusivity. Financial Savvy (and Its Risks): The easy availability of credit has benefits and downsides. While average urban Gen Z incomes stand at about Rs 33,000 per month (with expenses near Rs 20,000), about half say they are unable to save, highlighting a need for smart borrowing and financial education to avoid debt traps.
Fashion Network
05-05-2025
- Business
- Fashion Network
Paul & Shark names cricketer KL Rahul as brand ambassador
Italian luxury clothing brand Paul & Shark has onboarded cricketer KL Rahul as its first-ever Indian athlete global ambassador. With this association, the brand aims to make deeper inroads in India which is a key market for the brand's international distribution network. As part of the partnership, KL Rahul will feature in a campaign endorsing the brand's spring/summer 2025 collection across Paul & Shark's global platforms. Commenting on the association, Andrea Dini, CEO of Paul & Shark in a statement said, 'KL Rahul's journey as an athlete, his international appeal, and his distinct sense of style makes him a natural extension of our brand's values. This partnership is not just about fashion – it's about celebrating a way of life that merges sport, travel, and contemporary elegance.' KL Rahul added, 'Paul & Shark just gets my style. The brand is effortless, sharp, and never trying too hard. It stands for quality and quiet confidence, which is exactly how I see fashion too. Being the first Indian to represent them globally makes it even more special, it feels like the kind of partnership that just fits.' Founded in 1976, Paul & Shark has a joint venture partnership with Reliance Brands Ltd in India. It operates three stores across Mumbai, Delhi and Kolkata, along with five shop-in-shop doors and digital presence on Ajio Luxe.
Fashion Network
04-05-2025
- Business
- Fashion Network
Paul & Shark names cricketer KL Rahul as brand ambassador
Italian luxury clothing brand Paul & Shark has onboarded cricketer KL Rahul as its first-ever Indian athlete global ambassador. With this association, the brand aims to make deeper inroads in India which is a key market for the brand's international distribution network. As part of the partnership, KL Rahul will feature in a campaign endorsing the brand's spring/summer 2025 collection across Paul & Shark's global platforms. Commenting on the association, Andrea Dini, CEO of Paul & Shark in a statement said, 'KL Rahul's journey as an athlete, his international appeal, and his distinct sense of style makes him a natural extension of our brand's values. This partnership is not just about fashion – it's about celebrating a way of life that merges sport, travel, and contemporary elegance.' KL Rahul added, 'Paul & Shark just gets my style. The brand is effortless, sharp, and never trying too hard. It stands for quality and quiet confidence, which is exactly how I see fashion too. Being the first Indian to represent them globally makes it even more special, it feels like the kind of partnership that just fits.' Founded in 1976, Paul & Shark has a joint venture partnership with Reliance Brands Ltd in India. It operates three stores across Mumbai, Delhi and Kolkata, along with five shop-in-shop doors and digital presence on Ajio Luxe.
Fashion Network
02-05-2025
- Business
- Fashion Network
Paul & Shark names cricketer KL Rahul as brand ambassador
Italian luxury clothing brand Paul & Shark has onboarded cricketer KL Rahul as its first-ever Indian athlete global ambassador. With this association, the brand aims to make deeper inroads in India which is a key market for the brand's international distribution network. As part of the partnership, KL Rahul will feature in a campaign endorsing the brand's spring/summer 2025 collection across Paul & Shark's global platforms. Commenting on the association, Andrea Dini, CEO of Paul & Shark in a statement said, 'KL Rahul's journey as an athlete, his international appeal, and his distinct sense of style makes him a natural extension of our brand's values. This partnership is not just about fashion – it's about celebrating a way of life that merges sport, travel, and contemporary elegance.' KL Rahul added, 'Paul & Shark just gets my style. The brand is effortless, sharp, and never trying too hard. It stands for quality and quiet confidence, which is exactly how I see fashion too. Being the first Indian to represent them globally makes it even more special, it feels like the kind of partnership that just fits.' Founded in 1976, Paul & Shark has a joint venture partnership with Reliance Brands Ltd in India. It operates three stores across Mumbai, Delhi and Kolkata, along with five shop-in-shop doors and digital presence on Ajio Luxe.
