Buy Salwar Kameez, Sarees, Lehngas, Skirts

Although the competition among the luxury brands is on the rise, manufacturing and producing “exclusive” products keeps the brand afloat. This coupled with visibility, in other words product awareness among people is what the ultimate goal of any fashion luxury brand focuses on. According to Philippe Leopold Metzger, CEO of the famous watch brand Piaget; striking a balance between traditional old charm and ultra-modern manufacturing techniques is the key to success of any brand today. He commented that “earlier size didn’t matter, but things have changed now, you could be the biggest brand, but if you are not seen, you are gone. Earlier customers were not informed, now they are over-informed”.

To maintain and retain exclusivity, the unit destroys more than 1000 watches every year, so that they are not sold openly in any market. Metzger further added that more than 90% of their products are carefully handcrafted. At the same time they possess the most ultra modern machines. A perfect balance is needed to produce limited edition watches in order to maintain exclusivity as well as to produce bestsellers.

The changing retail environments are an added bonus for such brands, as these luxury brand stores are not just restricted to the center of the city, but have moved on to airports and the like. Although a few brands are just planning to make a debut on the Indian soil, the Piaget brand has been available to India for almost 10 years and is here to stay.

The luxury conference held in Delhi was all about lending a whole new meaning to the word “luxury” and its attached connotation. Looking at luxury brands from a whole new perspective and making it accessible to the average Indian remains an impending change. With internet awareness on the rise as well as increasing global travel, is creating a demand for quality luxury retailing in this country.

Patrick Bousquet-Chavanne, group president of Estee Lauder Companies Inc, told the HT mint luxury conference that “mass marketisation of luxury” was the new trend while “depreciation of brands” was also a challenge. He further went on to comment that “It is less about conspicuous consumption and more about the ultimate experience and instant gratification”.
What was implied is that value is of paramount importance to the consumer and not just a “must have” commodity. Consumer trends of buying luxury products are especially on the internet are on the high. Moreover, 450 prestige fragrances were launched in the past 4 years, as compared to the 240 launched in the previous four years. According to Bousquet-Chavanne by the 2027 India’s middle class bracket is expected to grow to 50% of the population as compared to the current 30%. China and Brazil are ahead of India in the organized retail segment. Their company is planning to bring the luxury brand Donna Karan as well as Estee Lauder.

Time for India to poise and precondition itself, as luxury brands are all set to swamp the nation.

Furthering the plans of introducing more luxury brands in India, the basic tenor at the HT luxury conference sounded rather promising, highlighting market credibility in order to make a splash.

Salvatore Ferragamo is one such company that has plans to roll out its luxury stores across the Indian cities. This luxury brand is a massive empire that gets its 92% of its sales primarily through exports. Asia accounts for 46% of its sales. The company currently has 18 of its stores in China. In India the company has just one outlet in Mumbai. The company now plans to launch its second store at the Emporio, DLF’s luxury mall which is expected to come up shortly. Later more of its outlets are expected to be launched at another luxury mall that Altagama, the Italian luxury brands’ association is planning for Delhi. According to Michele Norsa “We are just about starting. Who knows, if the pace picks up, we may have five stores in India by 2010″.

Norsa further commented that it would be a good strategy to have Bollywood stars endorse their brand. Socialites donning their brand would be an added bonus to arouse interest and prove the brand’s credibility. When quizzed by the advisory editorial director Hindustan Times Vir Sanghvi as to whether not having a famous designer like Marc Jacobs at Luis Vuitton, would be a deterrent for the company’s growth, Norsa replied that “Eight of the 10 best designers are not successful”. Commenting on facing competition from its French counterparts, Norsa told HT that “We are in two stages altogether. Some of the French companies are 100-150 years old. Most Italian fashion companies are between 30 and 60. The prominent highlight being market credibility, the prospect of Indian luxury retail looks pretty promising and bright.”