Affluence chic is what the city has fallen in love with as Hyderabadis have discovered the joys of shopping for and possessing luxury goods and toys. After Mumbai and Delhi, Hyderabad has emerged as the cash rich metro, which lives life on the bling side. Proof of this phenomena is the Panasonic 103 inches plasma screen which is all set to hit the market by the end of this month. It costs, hold your breath, Rs 33 lakhs. The TV which couch potatoes would love to possess comes with an exuberant price tag, but the very fact that it is exclusively being launched at TMC means there is a market.
The store's chairman says he has already been getting enquires for it. In the meanwhile sales for the normal LCDs and plasma screens continue to do extremely well. "On an average we sell around 200 to 250 plasma screens and LCDS in a month. LCDs are no longer luxury goods as you can buy a 26 inches model for Rs 29,990. Surprisingly a lot of the upper middle class are buying them," says Amarnath. Budgetless customers are splurging on Samsung's 52 inch LCD which costs nearly Rs 3 lakhs at the store. Around 15 such models are sold per month.
During traffic jams you will see roads cluttered with Mercedes Benzes and BMWs. At parties Louis Vuitton, Fendi, Chanel, and Dior shades and bags can be spotted on almost every Page 3 fixture in attendance who is busy bragging about her next foreign holiday and recent shopping spree.
While some may find blatant displays of wealth vulgar, the majority, which especially includes the luxury brands in the country, isn't complaining. Yashwant Jhabakh, MD, CEO of Adishwar Motors, the dealers for Mercedes Benz says, "Hyderabad has the third largest market share for Mercs after Delhi and Mumbai. Here we are doing 20 per cent more business than expected. In a year 160 cars are sold and the C and E class models are the most popular. A C class costs Rs 30 lakhs. Lots of people from real estate and software techies are buying," he says.
The store's chairman says he has already been getting enquires for it. In the meanwhile sales for the normal LCDs and plasma screens continue to do extremely well. "On an average we sell around 200 to 250 plasma screens and LCDS in a month. LCDs are no longer luxury goods as you can buy a 26 inches model for Rs 29,990. Surprisingly a lot of the upper middle class are buying them," says Amarnath. Budgetless customers are splurging on Samsung's 52 inch LCD which costs nearly Rs 3 lakhs at the store. Around 15 such models are sold per month.
During traffic jams you will see roads cluttered with Mercedes Benzes and BMWs. At parties Louis Vuitton, Fendi, Chanel, and Dior shades and bags can be spotted on almost every Page 3 fixture in attendance who is busy bragging about her next foreign holiday and recent shopping spree.
While some may find blatant displays of wealth vulgar, the majority, which especially includes the luxury brands in the country, isn't complaining. Yashwant Jhabakh, MD, CEO of Adishwar Motors, the dealers for Mercedes Benz says, "Hyderabad has the third largest market share for Mercs after Delhi and Mumbai. Here we are doing 20 per cent more business than expected. In a year 160 cars are sold and the C and E class models are the most popular. A C class costs Rs 30 lakhs. Lots of people from real estate and software techies are buying," he says.
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