Online luxury Market may touch $35 bn mark by 2016: Assocham

India's online luxury market is expected to touch USD 35 billion by 2016 on account of rising disposable incomes and expansion of modern retailing, according to Assocham.

In 2012, the market size was USD 8 billion, it said adding luxury shoppers are well-connected digitally and it becomes easier for brands to showcase their products.

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"Indian online luxury market may touch USD 35 billion mark by 2016...due to rise in disposable incomes, expansion of modern retailing and influence of western culture," it said in a statement.

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Offers like discounts, cash-on-delivery, EMI schemes and easy return policies have provided the sector a new platform, it said.

"Luxury products sold online include apparels, stylish accessories, watches and high end electronics...The Benzs, BMWs, Rolls Royces, Audis, Jaguars are not rare sights in metros," it added.

Some of the significant players who performed well in the market included GUCCI, Christian Dior, Louis Vuitton, L’Oreal Luxe India, Da Milano Leathers and Hidesign.

Source: PTI