From auto to watches, superluxury manufacturers feel the pinch of slowdown

Slowdown overwhelms high-end auto, watches, apparel and most of real estate segments

This January, after a decade-long tie-up with superluxury manufacturer Rolls-Royce Motor Cars, dealer group Navnit Motors called it a day. A distinguished Rolls-Royce showroom in the Atria Mall in Worli is gone, replaced by a Reliance Digital boutique. Sharad Kachalia, Navnit Motors’ director, points to declining sales. He even shut down the Rolls-Royce Ahmedabad showroom he opened in 2014 and Prime Minister Narendra Modi once visited it. 

“In the last two years, we were unable to sell more than 10 cars out of Mumbai,” says Kachalia. That’s down sharply from 2011, when Kachalia estimates he sold between 30 and 40