India’s wedding market has always been known for its opulence, extravagance, and unmatched cultural significance. As the world’s largest market for wedding-related goods and services, the country has become a hotspot for luxury brands looking to tap into the burgeoning demand for high-end clothing, jewellery, venues, and accessories.
From intricate flower arrangements to bespoke fashion, wedding budgets in India often run into lakhs, and in many cases, even crores of rupees. This growing trend has now caught the attention of global luxury players, with brands like Bvlgari leading the charge.
Bvlgari, the iconic Italian jeweller, recently launched its ₹13 lakh Mangalsutra Sutour necklace, marking its third India-exclusive offering. The high-end necklace represents a perfect fusion of traditional Indian heritage and modern luxury, positioning Bvlgari at the heart of India’s booming wedding industry.
According to a report by Jefferies, India’s wedding industry was valued at a ₹10 lakh crore in 2023, with the average family spending over ₹12 lakh per wedding, a figure that continues to rise with each passing year.Luxury shopping destinations like DLF Emporio in Delhi, often referred to as North India’s premiere luxury retail hub, are already witnessing the impact of this trend. Top designers and international labels showcase their exclusive wedding collections, from custom couture to fine jewellery, highlighting the magnitude of this market for both domestic and global brands.
Pushpa Bector, Head of Retail at DLF, emphasised the growing relevance of luxury in Indian weddings. “Luxury spending is highly planned in Indian weddings. Couples are opting for brands like Cartier and Bvlgari for jewellery, alongside couture from renowned Indian designers. This blend of international and local brands is driving double-digit growth in the wedding segment,” Bector stated.
But it’s not just fashion and jewellery brands that are benefitting from this surge in luxury weddings. The wider retail sector, including niche segments such as luxury watches, is experiencing a noticeable uptick in demand. Raunaq Kapoor, CEO of Kapoor Watches & Co, highlighted the importance of the wedding season for his business, noting that it contributes around 15-20% of annual revenue. “This year, we are anticipating a 10-12% increase in sales compared to last year, driven by the strong demand from wedding-related purchases,” he added.
The numbers reflect the size and scale of India’s wedding industry. The Confederation of All India Traders (CAIT) said, businesses in India reported earnings of ₹4.74 lakh crore from just 38 lakh weddings that took place over a 23-day period in November and December 2023. This staggering figure underscores the immense economic impact of weddings in India, which goes far beyond fashion and jewellery, influencing everything from travel and hospitality to event management and entertainment.
With the wedding season just around the corner, luxury brands are aware that the clock is ticking. According to industry estimates, the luxury wedding market in India is projected to grow at a compound annual growth rate (CAGR) of over 20%, driven by high-spending families and the growing desire for grand, opulent celebrations. Whether it’s a destination wedding or an entirely bespoke experience, Indian weddings have become synonymous with luxury, creating a multi-billion-dollar opportunity for brands.
As the Indian wedding market is expected to reach $50 billion by 2025, it’s clear that the country’s weddings have become more than just cultural celebrations—they are a thriving business opportunity, presenting an ever-expanding platform for brands to showcase their finest offerings to a discerning clientele seeking both tradition and extravagance.
