The new customer of luxury products and services desires a personal touch and therefore customization has become an important requisite in the luxury market. Lately, diamond industry of India has been foraying into the luxury market. There are diamond jewellers who are showcasing the international store concept to retail world renowned brands in India and at the other side there are diamond jewellers who are offering their own high-end branded jewellery. %%{{Millionaires' Spending :}}%%Luxury is the means of catering to an individual's dreams and aspirations. And luxury may well be the changing nature of an individual's expectations. Luxury isn't only about the need, it is about the want. Consumers have their own areas where they spend beyond reason because they get a buzz from it.%%Despite the financial crisis, personal wealth around the world grew 5% to US$109.5 trillion, according to the Global Wealth Report released by Boston Consulting Group (BCG, New York). Merrill Lynch and Capgemini further define High Net worth Individuals (HNWI) as those with at least US$1 million in financial assets, excluding collectibles, consumables, consumer durables and primary residences. Ultra-High Net worth Individuals (U-HNWI) holds at least US$30 million in financial assets, excluding the same variables.%%It is not just the luxury brands, there are also luxury plus for those who have the cash to splash on products with the cachet of exclusivity. Let's have a view of the dazzling array of world's wealthiest buys available for the growing number of people who are enjoying unprecedented level of affluence.

%%{{Diamond Studded i-Phone :}}%%De Vere's of London, the diamond jewellers, have unveiled a 3G Apple iPhone studded with 88 diamonds at the opening ceremony of Beijing's summer Olympics. Jewellers can increase or decrease the number of diamonds as per the customer's desire. The i-Phone is worth - US$8,224.%%{{Hand Bag with Diamonds :}}%%This ultimate designer accessory has just arrived in the UK. Created by a Japanese designer Ginza Tanaka, the bag has been set with more than 2,000 diamonds. Its diamond shoulder strap can be detached and worn as a necklace or a bracelet, while the 8-carat pear-shaped diamond centrepiece surrounded by a cluster of 81 smaller diamonds can be taken off and worn as a brooch. %%Diamond encrusted Platinum Handbag is worth - £ 1 million.

%%{{Diamond encrusted Phone worth US$ 1.3 million.}} %%Guinness World Record certifies the GoldVish phone as the most expensive in the world. The odd-shaped device is made out of 18-kt white gold and features 1,800 diamonds totalling 120 carats. A Russian businessman bought Le Million for his wife last September at a luxury goods fair in Cannes, France.

%%{{Studded Credit Card Worth - Unlimited Credit :}}%%The Dubai First Royal Master card is a diamond studded card available only in Dubai and by invitation, only to further limit its distribution. Those who are lucky enough to get one of these cards will enjoy not so surprising features like unlimited credit, special deals, and access to VIP benefits at companies around the world, but perhaps most noteworthy is what the actual credit card looks like. It's black with a gold metal border and it features a crest in the centre with a real diamond embedded in the middle.

%%{{Diamond Studded Elephant worth US$ 1 million }}%%The Diasqua group has diversified out of loose diamond trading to embedded diamond jewellry, catering to the growing demand among young Indians, to the diamond studded gold figurines that can fetch up to US$1 million catering to the whims of the super rich around the world.

%%{{Studded Bluetooth Headset Worth EUR 47.95 m.}}%%Love them or not, gadgets are the new bling, literally. Creators of the Pama 7008 Pink Diamante Bluetooth Headset decided that pink was not girly enough, but pink with diamonds, now that is how you girlify a gadget. Aside from the "pretty in pink diamonds" setup, the headset comes with a neck-strap, one button action, 5 hours of talk time, weighs 12.7 grammes, and enhanced audio.

%%{{India a Growing Luxury Market :}}%%The old saying holds true - The rich do get richer!%%Due to economic boom in the country, India is emerging as a very big consumer market for diamond jewellery and other luxury products and offering. For years foreign brands have been put off by this country's high import taxes and its shabby retail environment but today India is experiencing a mall-building boom, perhaps a response to the sharp rise of newly affluent consumersmany under age 25. Analysts predict that the luxury market could grow 25% a year over the next three years. The Indian is growing day by day as people are spending money on luxury items. The world's most prestigious luxury brands are expanding in India, almost as if discovering a new world. The opening up of the Indian economy and parallel boom in the IT and service sectors have created an entire generation of wealthy Indians who are distinct from India's traditional business families.

%%{{Fastest Expansion :}}%%Growing wealth is attracting more investment by luxury brands on the sub-continent. India had 123,000 millionaires in 2007, up more than a fifth from the previous year and posting the fastest pace of expansion in the world. That's according to the World Wealth Report released by Merrill Lynch and Capgemini. With consumers of luxury goods more in numbers than adult population of several countries, luxury brands are setting up shops in India to tap the growing market. The numbers are still small but India is quickly catching up with its wealthier neighbors. It depends on how quickly GDP grows. If GDP growth continues at this pace, the market will grow and luxury will grow very quickly.%%How to Entice the Luxury Brands in the Country?%%Although India's share of the global luxury market is small, yet the attention towards Indian luxury market has not been overlooked. Diverse numbers of brands from fashion, automobile to leisure are investing enormously to seize a share of the Indian luxury Rupee.%%Jewellers can benefit themselves from the omnipresence of high class malls in their cities. Malls have become a hot destination for the brands to launch their outlets. Another locale can be the 5 or 7 star hotels where the brands believe that their customer is a class apart and they are not coming to any ordinary store to purchase the wealthiest buy. %%How to Win in Selling Diamond-Luxury Fusion?%%To succeed, Indian diamond traders must attract the top segment of the mainland consumer market and must understand the changing face of the luxury consumer. Today, jewellers need to concentrate on how they can tap the opportunity in the luxury market and they need to respect the difference between the brand and the consumer. While selling luxury products, jewellers should build and sell the brand and not just the product.%%Segmenting the consumer market helps to identify, differentiate and prioritize the most profitable offering to the affluent consumer. An emotional connectivity has to be established for developing a deep and meaningful relationship to win the soul of the luxury consumer. -Dolly Setia