Atlas of Affluence (AOA) is a white paper on luxury launched by The Voice of Fashion, a division of Reliance Brands Ltd. Besides a yearly study examined from various vantage points, AOA will evolve as a series of market related deep dives to appear periodically. With the pie of cuisine-led luxury only growing bigger, in its next, sub-category volume later this year, AOA will trace India’s Eat Map.
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|At A Glance|
|65% of non-metro residents buy luxury on a regular basis compared to 53% in metros.|
|57% of men claim that their fashion spend has increased.|
|As per RBL data, men’s brand portfolio saw a 46% growth in 2021 compared to 2019. For women, it was 14%.|
|76% Invest in luxury brands that depict their sense of style.|
|52% are influenced by celebrity endorsements|
“In finance and business studies affluence is about assets compared to liabilities. But for an evolved luxury market — which includes aesthetic finesse, awareness, aspiration, affordability and distinction as well as trend defining choices — affluence brings a new set of affirmations. It is a combination of wealth, assets and high disposable incomes, with socio-cultural awareness, self-knowledge, and a response-able outlook,” says Shefalee Vasudev, editor, The Voice of Fashion.