Luxury for me was my first chocolate. When I think back today, it had so many things wrapped up in it - childhood memories, little stories of friends and the reward for doing something good. Luxury is different for different people -comfort, time, space or attitude. -- is all luxury. As glamorous as it may sound, luxury has always been perceived as a rich man’s delight and therefore always aspirational for the masses.
So to make luxury and everything about luxury available to the masses, Soumya Jain decided to start an online luxury magazine, which can demystify various facets of the concept for all. She decided Luxuryfacts.com will be different from the rest and wanted it to be a platform to display the inside story of the transformation of a brand into a luxury. “I wanted to portray luxury the way it should be, by highlighting the inherent values of a brand/product rather than a Page 3 item,” says Soumya. Launched in April 2010, Luxuryfacts provides updates from the luxury world, latest luxury launches, premier indulgences and the means to get them. According to Soumya, her target group is millionaires and self-made wealthy professionals who know how to enjoy life. It is also caters to those aspiring for indulgences and targets people in the age group of 25-55 years.
“India has a mature base of luxury consumers, but there are many who are still unaware of brands, but are keen to know more about them, how they are made, the clockwork behind it, etc,” says Soumya. Luxuryfacts.com brings indepth knowledge about a brand for people who are interested to know more. The online medium also makes it convenient for people interested in accessing information on luxury do it from the convenience of their office/home.
But things were not all that easy when Soumya started. Starting a concept that was in its infancy was difficult and especially finding like-minded people who loved luxury like her was another challenge. The biggest challenge was to tell both customers and brands about their existence and convince them to share information with her. Convincing people about the benefits of the online medium was another challenge, says Soumya. But now with a sizable chunk of readership as well as brands onboard, Soumya makes money through advertising and partnerships with brands.
Today she says the site has a niche positioning and is known among customers who like luxury. The site also has a strong presence on social media like Facebook, Twitter & Pinterest – where it engages with customers to drive readership. Soumya also recently launched a book titled 'The Luxury Market in India: Maharajas to Masses', demystifying the luxury industry for a larger audience.
Despite the challenges, Soumya says she doesn't want to get lost in the race of hitting monthly targets and numbers. She has big ideas and dreams for Luxuryfacts, and is considering have a subscription model in the future for her website.