LVMH's Tikka Singh: In the Luxury Market, the Middle Class Is the Game Changer

Tikka Shatrujit Singh, chief representative in Asia for French multinational LVMH (Moet Hennessy-Louis Vuitton) and advisor to the chairman of Louis Vuitton, has spearheaded the development of Louis Vuitton's business in India. The high-end leather goods and fashion house currently has four stores in the country.

According to Singh, affluent customers in India are very similar to, and have the same needs and wants as, wealthy customers worldwide. The real game changer in the luxury market in India, he said, is the aspiring middle class. "We have to be careful that the brand is always positioned at a level they are aspiring to reach," Singh told India Knowledge@Wharton. He added that India is very strong in the premium hospitality sector and that there is a huge opportunity for players to make a mark in this space.

You have a very interesting career trajectory. Could you share some of that with us?

Tikka Shatrujit Singh: Well, my career path wasn't planned. My parents never looked at my report card so everything happened by accident, which is perhaps a very romantic way of going about things But I don't recommend it to many people. I graduated from Doon School and went to Delhi University and was then hired by a bank in New York. I spent about 10 years banking across the world. I was picked up by the LVMH group to look at India when India was a closed market. I joined them in 1994 and advised various companies within the group. In 1998, the chairman of Louis Vuitton said, "Hey, I want you full-time with me. And we will decide who else you can advise."

It has been a fascinating journey because [Louis Vuitton] chairman Yves Carcelle is the real pioneer in the luxury business. He's a legend. He has created Louis Vuitton. And [he is] passionate about India and the development of business in India. I consider myself privileged and honored to have been associated with him, professionally and personally, for such a long time.

Let's talk about the luxury market in India. You mentioned it was closed at one point. Now you have a presence in India, as I'm sure do other luxury brands. Can you tell us a bit more about the Indian consumer when it comes to the luxury market? What sorts of trends are you seeing? Who is your target customer in India? And also, do you see an aspirational element in India or is it a very set group of consumers that are going after the luxurNike Air Max 2017