In Brief

A recent luxury trends report from Ledbury Research advises companies to start focusing on India. They are estimating that the number of families with annual incomes of more than $230,000...

A recent luxury trends report from Ledbury Research advises companies to start focusing on India. They are estimating that the number of families with annual incomes of more than $230,000 will have more than doubled from 20,000 in 2002 to 53,000 by the end of 2005 and will grow to 140,000 by 2010. By way of comparison, the UK has 400,000 families at this income level currently.

Luxury car makers are pouring in to woo the nouveau riche (Audi, BMW are the most recent entrants). A recent article in the Christian Science Monitor talks about how the luxury product makers are trying to tap the lavish spending that occurs around the wedding season by timing their new product introductions, market promotions etc.  An average Indian wedding ($34,000) costs almost 30% more than the average American wedding ($26,327), with rich Indian families spending as much as $2 million dollars.

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