The Murjani Group brings first ever Luxury Newsletter

First among a slew of innovative New Media initiatives in the Luxury Space

MUMBAI, August 1, 2007: The Murjani Group, pioneers in the field of global brand development and purveyors of luxury brands in India, today announced the launch of the inaugural issue of LUXELETTER "� India's first newsletter dedicated to luxury and luxury brands. This first-of-its-kind monthly newsletter will be distributed electronically, bringing the latest news, exclusive interviews, brand announcements and much more to the desktops of key stakeholders.

Editored by Vinod Kaul and Udita Jhunjhunwala, this interactive e-newsletter will serve as a source of valuable information to all those with an interest in India and the business of luxury.

Announcing the launch of the LuxeLetter, Mohan Murjani, Chairman, The Murjani Group, said, "The rapid growth of the luxury goods market in India to date, is a mere tip of the iceberg. For too long, Indian consumers have been deprived from purchasing these great international brands on their own soil. Based on India's strong luxury and artisanal heritage, it is a market waiting to explode. It's not about who will buy luxury and premium brands, but when one buys one's first luxury brand. It's about accelerating the economic dynamism of a nation. There could indeed, be no better time to launch a newsletter dedicated to luxury. This newsletter heralds a new era in India's economic explosion .... and a salute, to the "new" Indian Consumer"

A recent income survey says the number of multi-millionaire Indian families (with more than Rs. 1 crore annual earnings) is estimated to have risen by two-and-a-half times in the past four years. The NCAER survey says the current figure will double by 2010. According to an American Express survey on the new wealthy Asian demographic India will have an astounding 1,40,000 dollar millionaires by 2010. The Indian customer is spending more on luxury items, whose market is pegged at a whopping Rs. 650 billion and growing at about 14 per cent a year, a new study reveals.

Udita Jhunjhunwala, Editor of the LUXELETTER said, "Luxury is a matter of choice. It's an indulgence that makes you feel like a million bucks. The LuxeLetter aims to bring luxury trends, news and insights closer to consumers and promoters of luxury in a warm, accessible and lush format. With the launch our first issue, I look forward to a rich interaction with our readers."