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11 Feb 2024

'Indian Silicon Valley' Booming Luxury Market Attracts Global Brands

Bengaluru is emerging [as a hotspot for luxury goods](https://www.businessoffashion.com/articles/global-markets/luxury-bets-on-indias-silicon-valley/), fueled by its tech wealth and a diverse, affluent demographic. The city's luxury market caters to tech professionals, entrepreneurs, and old money families, with a focus on malls and retailers offering over 100 international brands. India's luxury spending is predicted to soar from €8 billion in 2022 to €25-30 billion by 2030. Bengaluru's transformation into a tech hub has cultivated a generation accustomed to luxury, driving the city's ranking in terms of high net worth individuals.