Luxury stores like Burberry, Genesis Luxury moving to smaller towns, says CII-AT Kearney report

For those who thought luxury is the preserve of the rich in big cities, here's one statistic that will startle. One out of every four luxury stores in India has come up outside Mumbai, Delhi and Bangalore, says a CII-AT Kearney report which was released on Tuesday.

Now add to that the fact that the Indian luxury market, growing at a rate of over 20% a year, is estimated to reach $5.8 billion this year, and you know why all foreign brands are vying to get a bigger pie of this vast market.

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