IIM Ahmedabad Shapes The Dreams for The Luxury and Lifestyle Businesses
The Story of India’s Progress
With the upsurge in disposable income and growing consumerism, the luxury sector market in India is all geared up for unprecedented expansion. If statistics are to be believed, then India is already on her way to becoming one of the chief economies of Asia.
The mushrooming upper middle class, residing mainly in urban areas and Tier II and III cities, has shown a mounting inclination towards global brands, resulting in the presence of venerated names such as Rolls Royce, Louis Vuitton, Christian Louboutin, etc. in a leading emerging market.
An Upsurge in the Nation’s Prosperity
Fuelled by rising aspirations, exposure and income, the Indian luxury market is expected to touch a whooping ₹ 78,939 crores ($14.7 billion) in 2015. Irrespective of the continued global economic slowdown, the luxury market in India is growing at 35%. The number of Ultra High Net Worth households, with a minimum net worth of ₹ 25 crores could triple to 2.86 lakhs in next five years with a fivefold increase in their net worth to ₹ 235 trillion. And the HNIs will be double in number by 2015 to over 4 lakhs with a collective wealth of $2,645 billion.
Preparing for the Emerging Luxury Boom
With extravagance witnessing a boom every year, what India requires is able collaborators and managers who can add to India’s flourishing businesses. Keeping such proficiencies in mind, IIM-A has designed the “Crafting Luxury and Lifestyle Businesses” workshop, a one-of-a-kind learning experience that will combine the knowledge, skill and expertise of the industry leaders and help you gain exposure through practical knowledge. The holistic know-how of the Indian luxury and lifestyle industry will include insightful workshops, lab-based product development, discerning discussions with experts, presentations, and webinars.
Placing India on the Global Stage
With the hands-on workshop, IIMA has formed unique collaborations with Indian Institute of Crafts and Design (IICD), Jaipur and IndianRoots, a successful e-commerce venture by NDTV. The “Crafting Luxury and Lifestyle Businesses” experience will incorporate artistic inspirations and encourage participants to develop original products based on the rich heritage of India. Interactions with craftsmen and artisans will help in product conceptualization and help participants build brands with ingrained significance.
Creative Skill Partner
IICD is a premier institution that is synergizing traditional knowledge and skills with contemporary needs to evolve methodologies that are relevant to modern India.
IndianRoots is where India’s best designers and finest craftsmen get together to deliver heritage and style. Such channels help to provide a forward leap in the respective fields, acknowledged with competitive strategies, skills as well as managerial inputs.
Learning from the Leaders
The pioneers of the industry will share their observations on the luxury and lifestyle industry to equip the participants with knowledge of the nuances of this growing sector and gain a competitive edge. The programme will be spearheaded by:
Francois Arpels: Managing Partner of IndEU Capital
Anchal Jain: Visiting Faculty, IIM-A with over 27 years of commitment in fashion and retail industry
- Prof. Ashok Som: Faculty, ESSEC, France
- Satish Bhardwaj: Director, IICD, Jaipur
Dr. Piyush Kumar Sinha: Professor, IIM-A
Who Can Participate?
The workshop ensures briefing on the risk factors associated with the business, coupled with the tactics and methodologies to face and overcome the same with the optimum usage of available resources. This profound learning experience is meant for participants belonging to different sectors such as fashion, accessories, watch, art, jewellery, furniture, home decor, interior design, hospitality, wellness & health, beauty, architecture, and real estate.
How to Apply
Interested candidates can fill and submit the nomination form online here. A statement of purpose of not more than 200 words should be submitted along with the application.