Infinite Myriaads Pvt. Ltd. Launches Estate planning certification in India

Infinite launches the most comprehensive Estate planning certification in India – Chartered Trust and Estate Planners (CTEP) from American Academy of Financial Management (AAFM) USA.

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Much of the wealth in the world will change hands over the next two decades from experienced family members who might be the creators of this wealth to newer generations that may not be prepared and might lack skills in managing and preserving the wealth. In developing world the rate of growth of wealth  is higher than in the developed markets but advisors in these countries lack both skills and knowledge to enable their clients to find the best solution in transferring and preserving wealth over multiple generations. Thus there is a significant opportunity to advise affluent families now and well into the future about wealth preservation and succession planning over multiple generations.

This important executive education programme has been extensively remodeled for India and

is designed to equip advisors and relationship managers with the skill and expertise to take your Trust and Estate planning activities to the next level of professionalism

Infinite Myriaads (P) Ltd are the authorized education providers for Chartered Trust and Estate Planner (CTEP) which is an accredited program from American Academy of Financial Management (AAFM) USA. Visit: http://infinitemyriaads.com  for more details.

To launch the program an interactive talk was conducted by Ashvini Chopra, MD-CEO, Universal Trustees Pvt Ltd who talked about the technicalities and legalities involved with Estate Planning, Inheritance and creation of Wills and Trusts. The seminar was well appreciated by the attendees

About Infinite Myriaads (P) Ltd

Infinite Myriaads Pvt. Ltd is one of India’s leading education and learning & development solutions provider. Established in 2007 it offers a gamut of learning solutions to Retail, Financial Services, Education, and Hospitality sectors. For more information, please visit: http://infinitemyriaads.com.

Contact Us:
Vikas Singh

Manager – Business Development

Infinite Myriaads Pvt Ltd.
14,Hingu Bhavan, 2nd floor,
Sahar Road, Next to Andheri Station,
Andheri (East), Mumbai-400 069.
Telephone: 022-26834213 Cell – 9004962907
Email: vikassingh@infinitemyriaads.com

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The Great Indian luxury consumer decoded

20 Jan 2014- Economic Times

In a recent CII-IMRB study on the changing face of luxury in India they have classified the luxury consumers in an interesting manner into Experientialists, Connoisseurs, Flaunters and Aesthetes.

It is not easy to classify the Great Indian luxury consumers. Though several attempts have been made over the years, somewhere we Indian have been able to confuse these classifiers. A classic example was when I saw a gentleman driving a Mercedes E- Class towards the CNG counter of the petrol pump. Although we need to show off or flaunt our status with luxury we cant help save every penny that we possibly can. Another classic example was when I saw a friend strapping a limited edition Omega with a Titan because the Omega strap is very expensive. This gentleman is a high-flying executive with an MNC.

In a recent CII-IMRB study on the changing face of luxury in India they have classified the luxury consumers in an interesting manner into Experientialists, Connoisseurs, Flaunters and Aesthetes.

However, you must remember that no matter how much you try to classify us Indians, we are a heady mix of all the above and much more than any study could possibly gauge.

First, the Experientialists:
This genre typically values new and exciting experiences more than buying products or brands. They spend on the experiences. In their structured lives they seek a getaway and so their spends primarily include five-star hotel stays, fine dining or adventurous/thrilling experiences. Luxury to them brings up images of being suspended in time and space, not having the press of daily life and work responsibilities thrusting into their minds as they enjoy the time away.

(image courtesy: flickr)

An exquisite piece of art or a handcrafted timepiece may also give a similar experience when you are just in a space where you are appreciating the beauty of it. It is a time warp, every time you look at it, you become so mesmerised by the beauty that you forget your meetings and deadlines. The experience is the luxury, the experience is the dazzle or luxe (Read: The Quest for Luxury).

Personalisation of experiences takes luxury to a new level. Personalisation of menus at fine diners is no longer reserved for the elite. Even sometimes the name of the customer is printed on the menu. So yes, this is value for the buck for an experientialist.
For these consumers, going forward the trend will be to stay in specialty boutique hotels or resorts, luxury spas or private apartments and villas when on a holiday.

Now lets meet the Connoisseurs:
This genre is passionate in certain areas of interest and makes it a point to be well informed and knowledgeable about it. These categories could be art, scotch, wine, watches, writing instruments, cigars, horses, and the likes. These connoisseurs get together and appreciate the finer aspects of their passion. They form clubs and get together for a quiet appreciate of luxury of the creation. It may be a horology society or a wine club or a scotch club or a cigar group.

This segment just revels in enjoying what they appreciate the most. Like in Kolkata there is The Calcutta Malt and Spirits Club and in the capital there is Delhi Single Malt Club where members come together, discuss, study, debate and share their appreciation and experience in high spirits (no pun intended). Similarly, there are elitist clubs of connoisseurs for appreciation of Cuban cigars and timepieces across the country.

They will spend their time and money in pursuit of the collection of personal passion points. They make the pursuit of their area of passion a mission and pursue it with zest. When it comes to limited editions, or handcrafted editions or spirit of the bygone era, these connoisseurs will not bat an eyelid for spending a fortune.


(image courtesy: flickr)

They are unlikely to place value on brands unless it stands for exquisite exclusivity. They tend to prize themselves on the knowledge of esoteric brands that are not widely known.
Luxury to them is purely a matter of the level of craftsmanship, the number of man hours spent, and thus the quality of the products or services that they buy. Niche, but specialised brands across categories will make their mark with these consumers. Their willingness to pay is high. Curated services that brings such products to them will be a great getaway to tap into their need for excellence.

The next segment, I believe is the life force that drives luxury in India. Meet the Flaunters:
A socialite friend who used to swear by a clutch that she used to take to every party had secretly told me that she isn’t that fond of it but only carries it for the LV monogram tag. That’s the power of a brand of this genre.

Welcome to the world of flaunters. They tend to value brand name over all other factors. Purchase of a brand is a signal of their status in their society and so visibility of the brand name is important. It is also important for the brand to be aspirational, otherwise, what’s the big deal? Badge seekers at the stage where the brand name itself is the biggest status indicator is seen mostly with the newly rich or new money class, especially among their young members. There is a strong desire to prove to the society that they have entered the elitist luxury brand-wagon.

In a survey more such consumers were seen in cities like Ludhiana, where they justify the ownership of brands by stating that they are now in a status or position which makes it de rigueur. The most interesting thing about this class is that brands are on a continuum. They can show off Zara as a daily wear to Prada on special occasions with elan.

As flaunters move up the societal ladder, the badge value is conferred not only by the brand but also by the level of difficulty in obtaining the product or service. Dinner reservation at hard-to-get restaurants, Birkin or Kelly bags for which the wait list is over four years, monogrammed and hot stamped Louis Vuitton bags with their initials, accessories made from exotic leather like of crocodile or snake the ability to acquire these with relative ease is a reflection of their status.

Well known but exclusive services and products are the way forward for tapping this segment of consumers.

And last but not the least, I present to you the Aesthetes:

To this genre, the brand is much less important than the design. Aesthetes are luxury consumers purely because they have arrived at a state of income due to which they can indulge in their love for design among luxury brands or products.
They will shell out a bomb because the object of desire is hand stitched and not because of the label. They pride themselves for having an eye that picks out the unique and bold in design.

The difference between them and the connoisseur is that the latter has certain passions which they follow with zeal and the quality and craftsmanship are very important. However, for the former category, it is the aesthetic appeal, the look, the intricacies of the design that appeal to their senses. They are also likely to pursue this aesthetic across categories unlike a connoisseur.

It is the creativity and the uniqueness of an item that denotes the value to the aesthetes, and they are willing to shell out if that object catches the eye. It is not about the intrinsic value or brand value, it is about just aesthetics. To tap them, luxury brands need to showcase more distinctive and unique designs.

The most intriguing part is that the experientialist consumer may well be an aesthete when it comes to apparel and accessories, while a connoisseur in art may be a flaunter when it comes to automobiles or his home. Indian luxury consumers are still evolving and many of them are not at a stage where their lives are only dominated by luxury brands.

Built in rationality and conservatism still dominates our minds so one toe may be dipped in luxury, the other may be in a pool of value for money.Yes, it happens only in India.
Let your quest for luxury continue.

About Mahul Brahma

Mahul Brahma is a former senior journalist and luxury editor with a prominent newspaper and currently heads brand and corporate communications for Ambuja Noetia Group.

Referencehttp://retail.economictimes.indiatimes.com/blog/The-Great-Indian-luxury-consumer-decoded/68

Infinite Myriaads Pvt. Ltd. launches vocational training projects for the economically challenged

Infinite seeking funding for its vocational training projects under Corporate Social Responsibility (CSR).

A recent Times Foundation–TNS survey shows how companies have woken up to the value of virtue. The involvement of the corporate sector in CSR seems to have picked up after 1991 as 63% of the organizations started CSR during 1991-2005. In half of the cases (56%), people living near the organization or industry are covered as part of the CSR programmes. The other groups covered include poor people living in rural areas (42%), tribal people (16%), people selected in consultation with NGOs (11%) and communities selected randomly (11%). In the case of PSUs, coverage of people living near the industry or organization and rural population is more, while selection of people through NGOs is more common in the case of the private sector.

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From the survey it is evident that companies who support projects under their CSR programs do gain in goodwill, branding and perception.

Infinite Myriaads is now seeking CSR funding support for its projects in

1)      Backward districts of Uttar Pradesh

2)      Outskirts of Bhubneshwar

3)      Outskirts of Pune

We propose to conduct the following sustainable programs for the children and youth of the region that will enable them to gain employment and economic independence

  • English language and soft skills – all the state wise report on Skill gap by NSDC highlight this as a critical gap
  • Retail
  • Financial Services
  • Travel and Tourism
  • Hospitality
  • Call centre

For any further clarification or supporting the programs details please do contact Mr Raj Mahadev at rajmahadev@infinitemyriaads.com

Website: http://infinitemyriaads.com