Ethos a B2B "luxury" watch company does 1000 crore in revenue, their revenue comes from jus 500 ultra rich families.
Their stock has gone 2.2x from their listing date :)
The luxury market does exist in India.
• Various VC firms like SoftBank , Tiger Global and Sequoia Capital are resuming their investments in India After 2022.
In Startups like Meesho , Captain Fresh and Country Delight.