Can Indian Luxury Fashion Brands Capture The Global Imagination?

Despite the ongoing economic crisis, the indian outlook for luxury brands continues to be strong in the long term. While this very niche market remains mainly dominated by international brands, the country still struggles to produce global-level luxury brands.

Historically, india has not been a big market for luxury fashion products. Now, we are seeing a revamp in the purchasing patterns of consumers ; wherein, people were not conscious enough to spend more on luxury but now, the market for indian luxury fashion is growing steadily. The relationship between increased demand and supply of the luxury products has a direct relation with indian economy stamping itself under the global pioneers. This niche market for indian luxury fashion is creating a gap, which the local luxury labels are finding easy to bridge and have a smooth pace boosting to develop. Luxury in general requires immense patience and investment. When it comes to standardising your local luxury on global pioneer, investment is viable both in monetary terms and the marketing efforts to be put in. To get you local luxury brand across globally, requires brand to start working way ahead of time because of high emergence period for the businesses. It is also very important to have better global sourcing capabilities, which in turn will connect dots and will make registration on global pioneer much better and flourishing. A lot of the aura of high-end luxury brands derive from the source.

Over the years, the market in india has witnessed home-grown brands such as forest-essentials, HiDesign and sabyasachi becoming global in terms of value proposition and quality of products competing with luxury brands. Indian brands have to build on the traditional strengths of India; I.e. craftsmanship and design. Several indian apparel designers have gone global, so they can expand into other products under their label. In addition to exciting well designed products, they also need to do well crafted brand communication. Hence, this transparency and Genuity of the brands being portrayed on the global platform, will sooner redirect indian luxury fashion get global and conquer thereafter.

Looking at the vast research and the market flow of the fashion trends, it is important for us to get into the roots and create a luxury with it. Indian textile crafts like, madhubani, kalamkari , warli are some premium handcrafts which are born and practised in the nation itself. We have a huge market for these textile products which such indian luxury brand must target for global projection.

Incorporation of such textiles, we can create some luxurious fashion to be served to the world.

Think Global, Act Local:

while we are targeting global presence to be achieved on the pioneer, it is important to feel what we have locally to cherish, and plan our communication and marketing strategies accordingly.

We still have a few shining names in the industry, who with their design sensibilities, are taking their business global.

Sabyasachi Mukherjee : King Of India’s Bridal Market

The designer whose bridal pieces are worn by India’s billionaire heiresses, bollywood superstars and its likeable customers sitting all around the world, has built a luxury brand that’s set to generate 40 million dollars in revenue in 2020. Despite the pandemic, wedding season seem to bloom still. Now, he’s on a quest to tap the lucrative fine jewellery market and take his business global. the brand nearly see a year-on-year growth of about 30 percent.

Sabyasachi mukherjee believes in consistency and repetition, and he celebrates indian-ness and thrive for nostalgic feel for their motherland. This idea of sabya has actually let him be an international favouite.

So far, it has been Mukherjee’s steely focus that has kept the business on track. Looking ahead, however, he has a shrewd expansion plan. The key is to identify categories that complement the needs and desires of his existing customer base, without losing focus of his core product. It can be a delicate balance — which is why his near-term focus is on fine jewellery.

Jewellery is an essential part of every Indian wedding. About 50 percent of India’s demand for gold is linked to weddings. Indeed, more than 400 tonnes of gold is exchanged at weddings in the country each year. This makes the metal the single largest component of the Indian wedding market, worth around $25 billion a year, or about 60 percent of the total market.

His jewellery line is very contemporary yet attached to a complete line of story, which can be styled both with his all time favourite saree or any international designer creating a timeless piece for their customers.

Sabya states that his business strategy is very much inspired from what CHANEL followed for success internationally.

He says,

“ I’m more optimistic about foreign investors who understand that nurturing a luxury brand is a long-term commitment.”

India's rich heritage offers an opportunity to build world class brands in various segments of luxury fashion market: clothing and footwear, bags and accessories, jewellery and fragrances. It is important to remember that there is a move against excessive consumerism and luxury brands of the future will need to evolve towards new models of ethical and sustainable luxury.

NICOBAR AND GOOD EARTH are a few brands which are working on ethical and suatainable luxury products with an agenda of global projection.with products developed having core indian values to be put across.

Also, four indian brands have made it to Global Powers Of Luxury Goods list 2020, an annual international listing of the biggest and most

influential luxury companies in the world. All the four brands are jewellery makers, with the TATA brand Titan coming in at the highest position among them at no.25. The other three are Kalyan Jewellers (no.43), PC Jeweller (no.47) and Joyalukkas (no.49).

With Right Authenticity And Indian – Ness Indian Luxury Fashion Brands Will Get Amongst The Global Pioneer.