The Hindu Business Line : CII, Italian trade body to promote luxury market

The Confederation of Indian Industry (CII) and the Italian trade body Altagamma are entering into a strategic partnership to encourage, promote and facilitate cooperation in the high-end luxury market in India and Italy.

Altagamma, the association of Italian companies operating in the high-end luxury market, believes that India has an inherent sense of luxury and can be a very successful market for luxury goods.

India is poised to figure amongst the top five markets for luxury in the world by 2025 and be in the same league as the US, Japan, UK, China, and Germany, with the consumer base expanding to at least 50 million from the current base of less than 100,000, the release said.

Italy is today the global leader in luxury and especially in the business of fashion. Hence, the relationship with Italy can have a two-way impact — by way of getting Italian brands to start business in India and simultaneously using the Italian knowledge in brand management to help some of the Indian brands become global icons.

The two organisations are to enter into this partnership at the CII-Altagamma Luxury Goods Forum, scheduled on March 26-27 at New Delhi.

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