The Hindu Business Line : La dolce vita

WELCOME to the good life. A rarefied atmosphere where a rose-tinted world awaits you with nothing but the most exclusive offerings that some people might get to read about, others dream about and most people never even get to know about.

Cars with rich leather and rosewood trappings that purr their way up to frightening speeds. Private jets that whisk you away to exotic locations. Luxurious hotels where suites are fitted out with every conceivable trapping of comfort and service takes care of the most demanding requests. Clothes that are designed to shock, stun or just raise that aristocratic eyebrow with mock surprise. Accessories that tell a subtle tale of their own.

This is not the average world of the aspiring wannabe. This is the very real world of the seriously rich. And if you thought this was a description of something that plays out on the French Riviera or in New Hampshire, think again.

This is something that has come to stay right here in India that is Bharat. And with this unfolds a new chapter in marketing to the very rich. Market researchers label them as the `creamy layer' atop the pyramid that defines socio economic classification. Well. The news is, the creamy layer is pretty thick. And it seems to be spreading.

A decade ago, luxury products and services were sold to those who quietly enjoyed them and were almost shy to say they could afford them. A socialist state where savings were a virtue and spending a vice.

Changing demographics and today's economic posture has put an end to this hypocrisy. Today's consumer has the money and is not shy to say she does.

And the results are there to show the whole world. Look around you and luxury is beginning to stare at you at every turn. Hotels advertise packages in Himachal Pradesh that work out to the equivalent of $300 per night for a double room. The suites retail at Rs 1 lakh per night. Sun-soaked Kumarakom in God's own country has luxury villas on offer at about $300 per night. The evening Jet Air flight from Delhi to Mumbai routinely has a small crowd of well-heeled passengers crowding the Business Class counter requesting a seat. They can be easily accommodated in the economy class. Most of them refuse the offer. Taj Air with its two Falcon 2000 jets sends across a little Powerpoint presentation that states that last year, about 1,972 VVIPS were ferried across in complete luxury in their private jets enjoying five-star cuisine and oversized leather seats at an approximate cost of Rs 2.1 lakh per hour.

A recent brochure from the Taj Hotels offers an `Experience The Raj' three-night package at £500. This obviously does not include the cost of hurrying across to London where this package begins and includes top-price tickets to The Far Pavilions, a multimillion-dollar musical extravaganza. Not too surprising when a meal for two, with a drink each at the Zodiac Grill, could cost about Rs 16,000.

Ravissant, a truly upmarket store, opened a huge glittering outlet in Mumbai and Louis Vuitton looks forward to more outlets at premium five-star locations. Anyone will tell you that the most inexpensive item on sale at the LV store is a key chain for about Rs 5,000.

An average ladies' handbag would put you back by Rs 30,000-50,000 in many stores in that league. Niche magazines are chock-a-block with advertisements for Versace garments, Ferragamo bags, Piaget watches and top-of-the-range Mont Blanc pens.

Newspapers are reporting that a gentleman from Pune recently picked up a new Rolls Royce Silver Phanton for over Rs 3 crore (another gent from Pune had taken delivery of a Rs 5-crore Maybach). Mercedes Benz feels there is a good market for its S-class vehicles, Skoda launches its Superb, Audi wants to come with its A8 and please keep in mind that most of these cars sell at upwards of Rs 55 lakh each.

The bottom line is to understand that attitudes have changed along with the economic scenario. There is a growing group of consumers who want nothing but the very best that life has to offer them. There is also a growing group of marketers who have realised this and are taking elaborate care to package and position a range of products and services that cater to these needs.

An important point to note is that such luxury products often smoothly ride over the lows in parabolic trends. The very rich are least affected by the speed breakers in economic activity. That makes the market segment all the more lucrative.

Marketers can raise their hand-blown crystal flutes and cheer to that thought. With Dom Perignon, of course.

(The author heads Canco Advertising.)

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