Are you thinking about taking up a career in Luxury?

-

Founder and CEO of Maison India — Gaurav Bhatia says that the steps taken by the Modi government to bring traction to the economy will directly reflect upon the growth of the luxe segment slowly but surely.

Future of the luxury sector 

“We are expected to become second-largest economy after China by 2050. Disruption brought by the pandemic is immense but temporary. However, with disruption, it came like an opportunity in disguise that made us think out-of-the-box.

It is no doubt that the luxury market will flourish in India after the coronavirus goes away. This indicates towards flourishing career opportunities for luxury professionals in the coming years across the country,” says Gaurav Bhatia Sotheby’s Ex-MD.

Last year, the luxury products market stood at $6.25 billion and a growth rate of 10-15% was expected until 2022. In 2017, NITI Aayog suggested the value of the overall luxury market in India at $18.5 billion with a compound annual growth rate (CAGR) of 25%.

Back then, the estimated manpower that the segment would have created by 2022 was around 1.76 million people. Gaurav Bhatia says that the worst this pandemic has done is that it pushed the growth further by 3-4 years. “If not by 2022, we can create around 2 million jobs by 2025 if everything goes as expected,” he said.
Skills needed to enter this market

“Luxury is a no-nonsense domain and hence those who aspire to become professionals must understand that you need to be well acquainted with the requirements of an aggressive sales driven industry, one that is astute in marketing and communication with a certain je ne sais quoi with customers. Moreover, you must have a natural flair for interpersonal skills as a deep dialogue and relationship building the key.

An eye for detail, inclination towards brands is critical and the ability for gentle persuasion are fundamental to a successful practitioner. Luxury is after all an expression of culture. If you have that in you, then the world is waiting, ” says a seasoned luxury market expert.

Gaurav Bhatia’s journey in the luxury market began with the dawn of the 21st century. With strong networking skills and a dynamic persona, Gaurav has led some of the leading global brands in the world of luxury including Young & Rubicam, Moët Hennessy, LVMH, and Sotheby’s.

With the growing needs of the sector in India, he finally founded his venture Maison India. The brand aims to equip its clients with innovative marketing solutions, business development ideas, branding and rebranding solutions, communication, and content creation along with PR and digital strategy.

Share this article

Recent posts

Are you thinking about taking up a career in Luxury?

Founder and CEO of Maison India — Gaurav Bhatia says that the steps taken by the Modi government to bring traction to the economy will directly...

Why Luxury Market Won’t be the Same Post Lockdown?

Innovative marketing solutions have always been of paramount importance to expand the landscape in the luxury market. The future of India’s luxury market will...

How international luxury brands can combat the versatility of Indian market

The tier 1 cities in India are witnessing a higher demand of luxury products. From jewelry to electronics, fine dining to apparels, accessories to...

Gaurav Bhatia, head of marketing for Moët Hennessy (LVMH), India

Based in Mumbai, Gaurav heads marketing for the largest luxury firm in India, Moët Hennessy(LVMH). He is also a luxury consultant. With eight years in...

Luxury Marketing and Catering to the Posh

How India’s luxury market has been shaped over the years – from USD 23.8 billion to 30 Billion India’s luxury goods market has witnessed a...

Popular categories

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Recent comments