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Fashioning Success in India’s Luxury Market

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BY: Abhay Gupta, Founder & CEO, Luxury Connect & Luxury Connect Business School

The luxury fashion and lifestyle market in India is one of the world’s most multifaceted, exciting and tricky markets. Brands and retailers that want to capture a share of this rapidly-evolving market need to learn to adapt, or risk missing one of the next greatest untapped opportunities for the luxury business.

The idea of luxury today has evolved into a complete lifestyle, spanning fashion, food, travel, hospitality, health and wellness, and even technology. Yet, it is also a well-established fact that ‘fashion remains the fulcrum of luxury and that all other sectors prey onto fashion as a category to drive, growth, inspiration and value additions. Hence, when it comes to luxury, the first thing that most people think of is ‘Fashion’, which itself is a broader concept spread across the realms of apparel, footwear, jewellery, timepieces, eyewear, fragrances and alike. However, in the present era of democratization of almost everything, the luxury fashion industry is finding itself in a strategic dilemma. The commercial demands of business have begun to take a toll on the creative aspects of the designer community, while the rapidly-evolving business landscape is also impelling the luxury brands and retailers to rethink and adapt, as they strive to preserve themselves in the quintessence of luxury amid creative and business disruptions. The phenomenon is prevalent the world over, including India. Importantly, the luxury market in India is still-nascent, but definitely growing, and is peculiar in its own way.

Enduring creative disruption

The very essence of luxury fashion lies in deep-rooted research; emphasis on new textile blends; inspiration – the Eureka moment for every designer; silhouettes perfected via multiple prototyping,’ and collections large enough to satisfy every global patron. The essence aver the last some decades has got slightly tweaked, however. The luxury fashion first faced disruption way back in 1975 when fast fashion brand ‘Zara’ cannibalised on the very process of how luxury fashion ought to be created – in a slow, relaxed and cyclical manner.

The luxury fashion brands thwarted the onslaught by fast downscaling to introduce entry-level elements of eyewear, perfumes, and accessories like footwear, scarves, ties, belts and even bijou jewellery. Experimentations of associations/special lines for the likes of were resorted to by a few established names of the luxury fashion space.

However, the core fulcrum of apparel fashion stood the test of time until the very recent times when corporate-led brand companies began to demand ‘fast fashion’ from established luxury brands. This has led to a further disruption in luxury fashion to date – no clear path seems to be emerging. Attempts of ‘See now, buy now’ introduced by a few top names like Burberry are yet to prove themselves and may not find favour among true connoisseurs.

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      Retailers Association’s Skill Council of India (RASCI) under aegis of National Skill Development Corporation (NSDC), A Government of India body, accredits Luxury Connect Business School (LCBS).

      LCBS has proudly created programs and systems which are in line with the above policy framework. Affiliation inspectors have certified our school as the only one following the prescribed international standard norms for retail in Luxury and premium goods & services. We have of course further specialized into ‘FASHION RETAIL’ and ‘LUXURY RETAIL’ via executive programs, on line programs, student programs and several certificate programs.

      We are proud to be recognized and contribute to the prime Ministers vision of a ‘Skilled India’.

      Medhavi Skills University is a renowned institution dedicated to nurturing the talents and skills of its students. With a strong focus on practical learning and industry-relevant programs, the university equips students with the knowledge and expertise required for successful careers in today’s competitive job market. Through its innovative curriculum, state-of-the-art facilities, and experienced faculty, Medhavi Skills University provides a dynamic learning environment that fosters creativity, critical thinking, and problem-solving skills.

      The university’s commitment to holistic development ensures that students not only excel academically but also grow as confident and responsible individuals, ready to make a positive impact in their chosen fields. LCBS is the academic partner to Medhavi in the luxury management domain.

      Medhavi Skill University appoints Luxury Connect Business School as it Sectoral Partner to deliver India’s 1st and only MBA in Luxury Brand Management.

      Retailers Association’s Skill Council of India (RASCI) under aegis of National Skill Development Corporation (NSDC), A Government of India body, accredits Luxury Connect Business School (LCBS).
      LCBS has proudly created programs and systems which are in line with the above policy framework. Affiliation inspectors have certified our school as the only one following the prescribed international standard norms for retail in Luxury and premium goods & services. We have of course further specialized into ‘FASHION RETAIL’ and ‘LUXURY RETAIL’ via executive programs, on line programs, student programs and several certificate programs.
      We are proud to be recognized and contribute to the prime Ministers vision of a ‘Skilled India’.