Study conducted to ascertain trends and fast growing segments assessed the prospects for luxury products, services and assets. The smallest category, luxury products, had a market size of $377 million in 2006. This includes watches and jewelry, high-end electronics, wines and spirits, apparel and accessories, personal care, objects of art and others.
The luxury assets market was the largest category at a whopping $2.9 billion, spurred by the growing demand for private jets. Luxury homes and cars were found to be the most aspirational luxury products for Indian consumers, with Mumbai and Delhi accounting for over 50% of the luxury homes market.
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