The following is news I've collected for the newsletter, as also an article I wrote for it. If you'd like to be added onto the mailing list, drop me a line with "Add to Luxeletter" in the subject line. And yes, comments and feedback are welcome!
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Bottega ready to enter India
Luxury leather goods house Bottega Veneta announces its entry in the Indian market through an exclusive tie-up with the Murjani Group. The brand’s first store is scheduled to open in Mumbai, followed by other metros in the coming months. Owned by the Gucci Group, Bottega Veneta is best known for its signature leather goods, including handbags, luggage and leather wallets.
Gaultier, Ferretti partner with TSG
French avant garde designer Jean Paul Gaultier and Italian label Alberta Ferretti will wow India’s swish set come 2008. Charu Sachdev of TSG International Marketing (who has also introduced Moschino) will bring the brands to India. The first stores will be coming up in Delhi followed by Mumbai. Gaultier is owned by the Aeffe Group, which also owns Ferretti.
Genesis changes colours
Genesis Colours, marketers of the Satya Paul label, have entered into a joint venture with Sports Station International (SSIPL) to form Genesis Luxury. The company will be the exclusive Indian licensee for brands such as Just Cavalli, Paul Smith and Sergio Rossi. The new company’s portfolio also includes Canali, Aigner and Salvatore Ferragamo, which have been transferred from Genesis Colours and SSIPL. Sanjay Kapoor, MD, Genesis Colours will be heading the venture.
‘Ties’ that bind
French luxury brand Hermès is all set to enter the Indian market. The Paris-based group has applied to the Foreign Investment Promotion Board (FIPB) for permission to sell its goods in India in partnership with Khanna Specialty Retail and Distributors Pvt. Ltd, a firm promoted by Ashok Khanna (of luxury spa Ananda). Hermès will hold a 51 per cent stake in the venture.
Pix: Style.com
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Deluxe destinations
India is being touted as the next hot growth market in luxury, putting developers on the fast track to luxury retail development. Zahra Khan tells us more
You’ve found the perfect LBD at the Chanel store, but something’s amiss. You need a pair of shoes or a stylish clutch to go along with the gorgeous dress. So you step into the Jimmy Choo store next door and pick out a perfectly well-heeled pair. A bag from Fendi on the floor above rounds off your shopping spree, and you walk out of your neighbourhood luxury mall thinking, ‘Isn’t this nice?’
The above scenario is set to become a happy reality faster than you can say ‘Ermenegildo Zegna’, as luxury shopping destinations are being planned by the dozen across India. We may not have an Avenue Montaigne or Rodeo Drive just yet, but India is more than making up for it with high-end malls.
Kicking off the boom will be India’s first luxe address, Galleria, at Nariman Point, Mumbai. Home to international labels like Gucci, Jimmy Choo, La Perla, and others, Galleria will open the doors to all things fabulous later this month.
Mohan Murjani, Chairman, Murjani Group says, “A brand experience, in particular luxury, starts from the time a consumer sees an ad in a magazine and visits the store, and is only complete after he/ she is satisfied with the product. The surrounding environment, the look and feel of the store, the quality of service and how their purchase is packaged, are all part of the experience. Until now, there was a dire need for luxury malls in India but no options. That’s why we have created Galleria. From our point of view, a luxury destination is the only way of doing business with luxury brands.”
Marketing an experience
A recurring issue for most international luxury brands entering India has been the lack of appropriate real estate to house their stores. In most markets, luxury brands opt for retail space at high-end hotels before moving into stand-alone stores in major shopping districts. Unfortunately for India, a luxury high street is a distant dream considering the lack of space. However, an increase in the number of luxe labels coming to India has put developers on the fast track to luxury retail development.
Enter Palladium, a luxury destination part of the redevelopment plan of Phoenix Mills, Mumbai. The shopping mall will be housed at the five-star Shangri-La Hotel, and will boast over 200,000 sq. ft. of luxury retailing come July 2008.
Says Atul Ruia, Managing Director, Phoenix Mills, “If you create a world class space, the brands will come. Every luxury label wants large spaces, good frontage and visibility. We’ll have all that and more. There will be a café on every level, a jazz bar and a gourmet food market. It will have an international vibe much like Manhattan’s Time Warner Center and Columbus Circle, where people can dine, shop and be entertained in a unique and alluring environment.”
In the capital city of Delhi, Kajal Aijaz is busy putting the finishing touches on one of the country’s biggest luxury malls, DLF Emporio. The 300,000 sq. ft. space will have close to 90 international and Indian labels in the posh Vasant Kunj area. “When we started out three years ago, there was no place for luxury brands. It was a challenge selling Emporio and India as a luxury shopping destination. However, what has worked for us is our commitment. It may sound clichéd, but we wanted to do this the right way. There were times when we had to give certain brands a miss if we felt they didn’t fit the image of luxury,” says Aijaz, CEO, DLF Emporio.
Targeting a February 2008 launch, Emporio boasts over 40 international brands like Gucci, Louis Vuitton, Fendi, Tod’s, Salvatore Ferragamo and Cartier, as also Indian designers like Tarun Tahiliani, J J Vallaya, Gem Palace and others.
However, Chanel India’s Managing Director, Xavier Bertrand, prefers to tread cautiously. He says, “Luxury malls are good news, but there are a lot of uncertainties in the way they are being marketed. For instance, very little is invested in research relating to actual catchment area analysis, apart from what brand mix and consumer mix is expected. Luxury brands need more convincing about the objectives of these malls as true luxury shopping destinations.”
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