Indian Luxury Expo to open in Vizag on July 2

The Indian Luxury Expo (TILE), an exhibition showcasing luxury and premium brands, will kick off here on July 2.

The two-day expo will showcase the most exquisite brands of luxury goods like cars and bikes, perfumes and cosmetics, jewellery and the like, TILE founder Karan Bhangay told reporters here yesterday.

Federation of Indian Chambers of Commerce and Industry is the industry partner for the Visakhapatnam edition of the event, he said.

"India is set to become the world's fastest wealth creator in the next few years. Currently, India has over 1,50,000 millionaires, over a million-and-a half India have more than USD 100,000 in liquid wealth," he said.

"The Indian customer is spending more on luxury items, whose market is pegged at a whooping Rs 650 billion and growing at about 14 percent a year." TILE co-founder Vishal Reddy said, "The Indian luxury expo is at the forefront of booming luxury market, bringing brands and their audience together in an ideal mood of opulence, awe, fund and shopping." The expo, a fixture since 2012, is now scheduled to be held in Visakhapatnam, after its earlier editions in Chennai, Hyderabad, Mumbai, Pune, Chandigarh and Delhi.