Luxury sales on an upswing this valentine's day
Properties such as The Oberoi Udaivilas and Fairmont Jaipur have no rooms available for February 14, as per Booking.com.
Rajesh Namby, general manager of Raffles Udaipur, said the hotel has seen a “remarkable” surge in bookings and expects a 22-27% revenue growth with an increase in average daily rates around Valentine’s Day.
Pushpa Bector, business head for DLF Retail, which runs luxury malls such as the DLF Emporio and The Chanakya in Delhi, said several young Indians, especially millennials, seem set to splurge on quality luxury brands for their loved ones this Valentine’s Day.
“We are anticipating a significant increase in sales compared to last year. There is a strong uptick in sales for luxury brands centred around watches, branded jewellery and items such as designer handbags this Valentine’s Day,” she said. “Notably, there is also an increased focus on indulgent experiences, and F&B (food and beverages) has emerged as the most sought-after category this year.”
Luxury sales of both pre-owned and new products have grown 40-50% year-on-year for
Luxepolis, an online marketplace for certified pre-owned and discounted new luxury goods, said its founder Vijay KG. “Handbag sales are certainly on the rise,” he said.
While consumer favourites such as Toblerone, Ferrero and Hershey’s continue to be in demand, premium and luxury chocolate brands such as Venchi have seen an increase in sales, said Karan Ahuja, co-CEO, CocoCart.
Venchi chocolates are priced at Rs 7,295 for an 800 gram bar and can go up to Rs
