Looking back, looking forward

The high-end Indian consumer has never had it better. If you thought 2007 was the year of luxury brand launches, Ruchika Mehta says things are set to get bigger and better in 2008

Pierre Cardin may have kick-started the entry of Western luxury brands in India nearly a decade ago, but no one could have predicted the potential the country holds for luxury goods and services today. The new darling of the luxury industry, India is at the threshold of a veritable 'luxeplosion' with 2007 becoming synonymous with the year of luxury brand launches.

If 2006 was the year of the (proverbial) bottom of the pyramid, 2007 was all about the realisation of opportunity at its summit. Some evidence of that legitimising of self-indulgence came in the form of ten luxury brands (no less) like Fendi, Escada, Alfred Dunhill, Gucci, Ermenegildo Zegna, Bruno Magli, Jimmy Choo and Bottega Veneta marking their entry this year. Italian super luxury sports car maker, Automobili Lamborghini, launched two models of the car, while Rolls Royce arrived at a Mumbai mall and ‘officially’ sold 10 Phantoms.

However, 2008 is the year to watch out for, as things will get bigger and better for the Indian luxury consumer. Brands like Hermès, Just Cavalli, Emporio Armani, Dolce & Gabbana, Jean-Paul Gaultier, Alberta Ferretti, Tod’s and Tiffany, among many others, are waiting in the wings.



It is no longer inconceivable to spot a Bentley Continental GT zipping down Mumbai’s Marine Drive, or fashion forward women walking out of salons in Cavalli jeans and Hermès handbags. According to a recent study, there are over a million luxury consumers in India, but this is just the tip of the iceberg. This number is only a fraction of eight million plus consumers who have high disposable incomes but are unfamiliar with luxury brands. The growth rate of the Indian luxury segment is 14.6 per cent, and the target audience is 22-55 year olds. It is currently worth US$ 444 million (or Rs 2,400 crore according to KSA Technopak’s 2006 India Luxury Trends report) and is set to expand with a new firm to facilitate process by bringing together buyers and manufacturers.

But shopping for luxury brands is an experience in itself, and not merely buying goods. Until this year, appropriate real estate, space and ambience were a sore point with most Western luxury brands. Five star hotels were the only, and necessarily limited, option. Developers soon saw the potential in this segment, and the country’s first luxury mall, The Galleria, currently houses Gucci, Bottega Veneta and Jimmy Choo at its swanky Nariman Point address in Mumbai.

Delhi too is set to get its very own luxury shopping destination with India’s largest realtor, DLF, launching Emporio early next year. Emporio will be India’s answer to London’s Bond Street. Four floors of only high-end luxury brands will lend another dimension to the Indian luxury retail market.
No doubt, there’s a lot for the aspirational Indian to look out for. After all, the future looks nothing short of luxurious for the conspicuous consumer!

Ruchika Mehta is editor Hello! and Grazia. Views expressed in this article are her own

This article is part of Luxeletter.

Now you can bag a Bottega too

...if you can afford the price tag, that is. Alongside the Jimmy Choo store opening a day before, Bottega Veneta's famed intrecciato weave bags are now on display at its store at the Galleria, Nariman Point. Opened on November 22, Bottega has been brought to India by the Murjani Group, which has also brought in Gucci, Jimmy Choo and soon La Perla.

The Bottega store offers luxury enthusiasts a range of handbags, shoes, small leather goods, belts, eyewear and luggage.

In an exclusive interview with Hindustan Times, Bottega Veneta's creative director Tomas Maier said the idea of the launch is to get the brand closer to Indians who already shop at Bottega boutiques abroad and also to introduce the same to those who are not familiar with the brand.

"The Indian consumer is very sophisticated and this market is very dynamic, so our hopes are high in India," he said. "India has a tremendous artistic and cultural heritage so I think the customer's aesthetic sensibility is very strong here. At the same time this is a period of great development in India and there seems to be a very international outlook with respect to fashion."

Luxury totes

I recently posted an entry about Anya Hindmarch's $15 'I'm Not A Plastic Bag' canvas tote and decided to check out how other luxury labels fared in this relatively affordable bag category. I'm an absolute sucker for canvas totes, so these designer ones really had me drooling. My favourite so far is the Jimmy Choo Keeya printed tote, with black leather trim. It's so colourful I'm perky just looking at it!



I also really like this Fendi tote. It's clean and sporty and I really like the brown cotton web handle detail.



Then there's the Louis Vuitton 'That's Love' tote, which has used the brand's signature monogram with a fun twist. Apparently, the monogram has been embroidered with 620 gold and silver threads. The Devil is in the details, eh?



Here's another stylish canvas tote from Louis Vuitton from the Damier collection with leather trimmings and golden brass hardware.



This one is not canvas, but I'm loving it nevertheless. The Bottega Veneta Ostrich tote in a gorgeous tan colour is supple, durable and oh-so-drool worthy. There's also a limited edition Python Tote of the brand's signature leather tote using the same Intrecciato weave. Now this is the one I want!