Cloistered Opulence

Dinakar, S.
September 2006
Forbes Asia;9/4/2006, Vol. 2 Issue 14, p138
The article reports on the lack of quality retail space and the way Indians shop which affect the luxury business in the country. When Ermenegildo Zegna in 1999 set up shop in Mumbai at Crossroads, India's first shopping mall, he expected to mimic his success selling designer wear in China. But the Italian luxury suitmaker closed up in 2005 because of low-end neighbors and poor foot traffic. Indians spend more on homes, travel, education and electronics, leaving little for luxury goods.


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