Indiantelevision.com Team

(28 March 2008 9:00 pm)

MUMBAI: An improving economy and the rapid opening up of the Indian market has given rise to a group of affluent consumers who are more than eager to adopt the latest fashion trends, says a latest Nielsen survey.

According to Nielsen Global Luxury Brands Study, 35 per cent Indians who participated in the survey agreed to buying designer brands. This is the third highest percentage globally with Greece leading the countries with 46 per cent, followed by Hong Kong with 38 per cent. Despite the prevalence of imitation designer-branded goods in some markets, surprisingly more than three-fourth of Indians surveyed do not think that imitation products match up to the real deal.

The top brands that Indian consumers spend on are Calvin Klein (34 per cent), Gucci (25 per cent), Diesel (24 per cent), Christian Dior (16 per cent), and DKNY (10 per cent). India has also made it to the top ten markets globally for some of the brands. India ranks third highest globally for people who buy Gucci products. It ranks sixth for Calvin Klein, ninth for Diesel, and tenth for Fendi for buying these brands globally.

"People are travelling overseas more frequently now and quite likely their interactions with foreign brands have increased considerably. Moreover, foreign brands are synonymous to status and our survey finds that 57 percent of Indians surveyed buys designer brands as a status symbol. The number of outlets that these brands have opened up in the country in recent times is a testimony in itself of the increasing fashion consciousness amongst Indians," said Nielsen associate director of client solutions Vatsala Pant.

The study also reveals that if money were no object, Gucci (41 per cent), Calvin Klein (31 per cent), Christian Dior (26 per cent), Versace (25 per cent), Diesel and Giorgio Armani (both 22 per cent) are the most coveted brands among consumers in India. The local designer brands are also quite popular amongst Indians with whopping 40 per cent respondents buying these brands.

India (41 per cent), the Philippines (39 per cent) and Indonesia (37 per cent) top Asia Pacific with people most aspiring to the Italian brand Gucci. At 41 per cent, India actually tops the world with most people wishing to buy a Gucci product if money were no object.

Though 73 per cent Indians feel that designer brands are usually overpriced for what they are, 35 per cent also believe that designer brands are of a significantly higher quality than standard brands. India stands eighth globally which thinks designer brands are quality products and invest in it in spite of the price. 45 per cent Indians think that only fashion-conscious people consider buying designer brands.