Kotak Private Banking has introduced the Kotak Private Luxury Index, a new indicator that tracks price movements across 12 categories of luxury products and experiences. Developed with support from a consultancy firm, the index offers data driven insights into how India’s ultra high net worth individuals are redefining luxury in a market projected to reach 85 billion dollars by 2030.
According to the release, the index shows a clear shift from ownership to experience and from materialism to mindful living. It serves not only as a price tracker but also as a cultural signal for brands, investors and advisors.
Oisharya Das, CEO of Kotak Private Banking, said, “At Kotak Private, we believe luxury is not merely about possession, but about personalisation, exclusivity, craftsmanship, and heritage for India’s discerning ultra HNI community. Leveraging our legacy of financial expertise and deep insights into wealth dynamics, the inaugural edition of this report provides a comprehensive benchmark for luxury across multiple asset and lifestyle categories. Through the Luxury Index, we offer a valuable indicator for investors, brands, and advisors to understand trends and cultural shifts shaping this vibrant ecosystem. We hope it serves as a compass for those who invest in luxury with purpose, reflecting Kotak’s commitment to helping clients grow wealth and enrich their lives.”
Key findings from the index include:
- The index rose 22 percent between 2022 and 2025, reaching 122. Luxury real estate and designer handbags outperformed benchmark equity indices.
- Wellness has become a major status symbol, with health retreats seeing an annual rise of 14.3 percent. Longevity and mindful living now shape affluent lifestyles.
- Experiences are growing faster than ownership, with spending on exclusive travel and dining rising 11.6 percent annually.
- Luxury real estate continues to be a strong marker of identity, gaining 10.8 percent annually.
- Designer handbags rose 10.2 percent annually, while watches and fine wines saw market corrections.
- Tuition at elite universities increased 8.4 percent annually, reflecting education’s role as a legacy investment.
The KPLI tracks year on year price changes across categories such as prime real estate, watches, jewellery, luxury automobiles, experiences, wellness, elite education and rare whisky. These are weighted based on value retention, spending behaviour and market scale. The base year of 2022 marks the first post pandemic benchmark.
The index highlights rising prices driven by demand, scarcity and the growing appeal of exclusivity. Lower prices in some categories reflect changing priorities, including a shift from traditional collectibles toward wellness and experiential luxury.
Bhavin Sejpal, Partner at EY, said the 22 percent rise since 2022 shows India’s luxury market is maturing and driven by curated experiences and wealth creation. He said India’s ultra wealthy are redefining luxury as an expression of identity, legacy and value preservation.
The release notes that India’s luxury market reflects cultural evolution, economic strength and aspiration. The index shows that luxury today is centred on lifestyle rather than possessions.
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