The Voice of Fashion, a division of Reliance Brands Limited (RBL), on Friday launched Atlas of Affluence (AOA) 2022, a digital magazine that tracks and guides conversations about Indian fashion, design, crafts and retail. According to a press release, AOA 2022 is the “first such broad and in-depth white paper from India” analyzing consumer behavior examined through the prism of luxury.
“A collective reflection on what prosperity means in India has reached a climax in the two years of the pandemic. AOA 2022 has been published as AOA 2022, which charts the post-pandemic market and the marked shift in consumer mindsets through a specially commissioned study in six cities and markets in India, a book of exclusively commissioned artworks,” reads the press release .
The statement added that the study was formulated over the past few months through scientifically designed consumer research to understand metro and non-metro differences between shoppers, brands and behavioral ideas behind consumption.
|At a glance|
|65% of residents outside of major cities regularly buy luxury items, compared to 53% in major cities.|
|57% of men say their spending on fashion has increased.|
|According to RBL data, in 2021 the brand portfolio for men saw a growth of 46% compared to 2019. For women it was 14%.|
|76% invest in luxury brands that reflect their sense of style.|
|52% are influenced by celebrities|
“In finance and business studies, wealth is about assets versus liabilities. But for a developed luxury market – one that encompasses aesthetic finesse, awareness, sophistication, affordability and distinction, and trend-setting choices – affluence brings with it a new set of affirmations. It’s a combination of wealth, assets and high disposable income with sociocultural awareness, self-awareness and a responsive attitude,” says Shefalee Vasudev, editor of The Voice of Fashion.
Positioned as a strategy document for all those creators and marketers of luxury products in India, AOA contains a series of columns, interviews, testimonials and features on architecture, personal style, the rise of India in South Asian design, global luxury and the emergence of the gold-collared consumer and the growing market for beauty and wellness, says the press release.
“Reliance Brands is pleased to support the creation of the Atlas of Affluence, which will become the definitive document in understanding the luxury market in India, not only for companies already operating in the sector, but also for global companies moving into invest in the history of India,” said a spokesman.
AOA features guest columns from The Oberoi Group’s Vikram Oberoi, American Express’ Manoj Adlakha, Couturier Tarun Tahiliani, DLF Retail’s Pushpa Bector and other leading industry names. It also has voices from designers Anamika Khanna, Manish Malhotra, Hanut Singh and PVR founder Ajay Bijli.