Written by – Francois Arpels
(Founder, IndEU Capital)
Indian brands should prioritize building brand awareness at home, before looking to expand internationally, thereby increasing their probability of success. Which known foreign brand has successfully gone global -with more than a symbolic international presence- without first being able to rely on its domestic market?
A whole number of brands should be able to prosper, capitalizing on the boom of the middle class in India and a more mature perception of luxury from the market, before venturing abroad.
India has a domestic market and demand that is worth millions. A... Read More
Written By: Prof. Piyush Sinha and Prof. Ashok Som
The Importance of Context
The discussions in our classes during the ESSEC – IIMA Global Management Program on Luxury could sometimes become quite heated. The 2011 programme in luxury management was attended by senior executives in luxury businesses as well as those planning to start their own luxury business.
One such discussion occurred when we were looking into the meaning of a luxury product or service. One of the participants said, “All premium products are luxury products”, and thus began an exciting debate. After nearly a whole hour, we were all... Read More
Reposted from Business Of Fashion
In an era of global luxury, the right balance between exposure and scarcity is critical, argues Robert Burke.
LONDON, United Kingdom — As the luxury market continues to grow globally and digitally, brands are facing new challenges in terms of how to capture and maintain customers’ interest at a local and international level.
The digital world, whether it be through a brand’s own website, its third-party partners, or social media, has drastically increased the amount of exposure that brands and their products can receive. While... Read More
Reposted from Irish Examiner
Aston Martin is synonymous with high-end sports cars, yet is now selling sofas, sunglasses, yachts, and real estate, says David Gilbert
The car industry is in a state of flux at the moment. Not only are car companies still struggling to get back on track after the economic crash, companies like Google, Tesla, and Uber are all looking to disrupt the industry completely with autonomous driving technologies, electric vehicles, and new ownership models.
Add to that the uncertainty surrounding Brexit and for European car companies, UK-based companies in particular, the future is less of a motorway and... Read More
Reposted from Luxury Facts
The recent crisis hit the luxury industry hard, of course. But how they all came out of it strongly is another story...
Although many believed the luxury industry would be immune to the crisis, the 2008-2009 recession eventually produced a change in the behavior of luxury consumers. First and foremost, these consumers became choosier: where before the crisis they would have bought ten products, after the crisis they would choose just one or two, after careful deliberation. Second, they showed a renewed interest in inconspicuous consumption: many avoided purchasing products that... Read More
Reposted from The Washington Post
Hermès inaugurated its CityCenterDC boutique with a grand, eccentric flourish befitting a nearly 180-year-old French luxury firm that was born as a harness-maker and grew into the purveyor of $10,000 Birkin handbags. At a seated dinner in the stately surroundings of the Andrew W. Mellon Auditorium, 120 guests began their meal with a foie gras feuilleté and ended it with a white chocolate “flower pot” filled with raspberries and mousse — a dessert so finely executed it could have been a porcelain figurine.
Though the fine... Read More
Reposted from QUARTZ India
India is working up a voracious appetite for chocolates.
A delectable combination of rising disposable incomes, changing lifestyles and a young population’s growing penchant for indulgence has transformed India into one of the world’s fastest growing chocolate markets.
A July report from French investment bank Societe Generale predicts that in the next five years, global confectioners will see the highest growth in four markets: India, Mexico, China and Brazil.... Read More
PARIS — A hush fell over the room just before the arrival of the maharaja of Jodhpur, Gaj Singh II, a man whom many affectionately refer to as Baapshi — father, in his native Rajasthan. He entered with a subtle smile to his coterie, wearing a gray Nehru jacket with ruby- and emerald-encrusted buttons, his salt-and-pepper hair and paintbrush mustache neatly combed.
Polite greetings — “Good evening, your Highness” — were murmured with a touch of reverence as the... Read More
Reposted from Business Today
Made-in-India brands are finding their feet in the luxury circuit.
Jewellery designer Nirav Modi became the first Indian luxury designer brand to have a 1,000 sq. ft store in the most luxurious address of New York, Madison Avenue, last year. The Nirav Modi store shares space with legendary brands such as Chanel, Hermes, Prada and Gucci, and the designer is known to be shelling out a whopping $1.5 million a year as rental for the store. The store launch was graced by celebrity guests such as US presidential contender Donald Trump, Hollywood actress Naomi Watts and... Read More
Reposted from Business of Fashion
European luxury brands do not give credit to artisans in countries like India, though they employ their skills season after season, says Bandana Tewari.
MUMBAI, India —
Whether its Lanvin, Gucci
, Chanel or Alexander McQueen, every label worth its shine has, at one time or another, dipped into India’s vast reservoir of craftsmanship. India is the most ‘hand-skilled’ country in the world, employing approximately 34.5 million artisans across the nation. However, this community is predominantly rural and remains largely un-corporatised. And, today, it is at risk from an increasingly ruthless economic order which rewards mechanisation... Read More