An unconventional luxury trend in India

Isaac Mostovicz writes that a growing high-ticket pen industry is yet another indicator that luxury in Asia and growing and diversifying rapidly....

What comes to mind when you think of luxury? Cars? Homes? Clothing?

In India, think pens.

As India’s luxury market grows, it is also diversifying. According to the Times of India, demand for luxury pens is growing very quickly.

Nikhil Ranjan, CEO, of William Penn, India’s only multi-brand retail store chain housing premium fine writing instruments said:

The luxury pen segment in India is growing and a good brand or a designer pen is a latest must have. Consumers falling into the 51 years and above age bracket buy the highest number of such pens.

Prices for luxury pens in India range from ($350) to Rs. 10 million ($220,000).

Comments made by Dominique Lesueur, export director at S.T Dupont, are sure to put other luxury brands and designers on notice that India is where the action is right now:

India is the second fastest developing economy in the world after China. Plus, it has a promising luxury pen market thanks to the growing consumer base with disposable income and a strong aspiration for luxury brands.

The growing consumer base with added disposable income has become the narrative against which Asia’s luxury rise has come to be what it is today. As other countries emerge from the recession and money begins to flow again, India is likely to have a leg-up in luxe.

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