Thursday, October 29, 2009
Sheetal Mafatlal - MID DAY
MID - DAY
It’s difficult to define style. It’s not what you’re wearing but how you wear it. It’s a personal thing & reflected in the way you arrange your house, your taste in flowers, books & art - It’s the personal stamp you give to everything you touch. How do I want to look – elegant, feminine and glamorous.
For me it’s very important to be an individual - for me that is what a style diva is – if you use a stylist you reflect the stylist and not yourself. What you wear should be an extension - a reflection of who you are, of your inner self. A person who needs a stylist lacks individuality.
Style is a whole combination of things. Not only what you’re wearing but how you act. Its attitude, its movement, it doesn’t have anything to do with beauty, wealth or labels. Some women can spend thousands of dollars and not look elegant at all and then you see someone else in a nothing dress and she has it.
The most important accessory for any woman is a full-length mirror.
The fashion of Valentino takes the form of a dream that emits beauty and style. It’s an aesthetic transfer of idealized perfection that, once touched by real people and the surrounding world, comes to life with feeling and emotion.
It’s a dream that over the last 40 years has scattered and spread amongst millions of clients--women who are captivated by the eternal romanticism of Valentino.
The fullest expression of this aesthetic ideal is without a doubt the Haute Couture, the original source for the creative research and development of all of the Valentino collections, from prêt-à-porter to accessories to perfume.
For Valentino, Haute Couture has always signified quality, precision in cuts and draping, attention to details and to the choice of accessories. It embodies the highest tradition of Italian creativity and craftsmanship.
Drawing upon incomparable values of the past while possessing a unique understanding of the present is what allows Valentino clothes to be both classic and ultra modern at the same time. Continuity is maintained, but always pushed forward.
The phenomenon of vintage, which has exploded in the last few years, as well as the continued success of pieces created over forty years ago, all point to this fact. The Jackie frock coat, designed for the then-First Lady, is still a “piece de resistance” in the collections, desired by women the world over.
Similarly, accessories, for both men & women have been re-launched using original fabrics, prints and decorative elements of past couture, have had an extraordinary success. A sparkle of glamour is effortlessly brought to every day life.
The unmistakable signatures of the Valentino world—Red and the V logo- become instant symbols of this glamour.
From the very first steps taken into the magical world of Valentino fashion, Red plays center stage. It is a symbol of creative freedom, of the bond between sensuality and femininity. Valentino’s red is the red of poppies (frequently printed on his clothing), of auras, of women dressed in red summer cotton. It heralds from Spain, but also from China.
V is the symbol of singularity in his fashion. A fashion which began forty years ago when the logo had not yet become an object of press attention, but a symbol of style.
V, on prints, knits, jacquard, engravings, applications, jewelry, buckles, broaches and watches.
V, as a sign of recognition.
V, as in Valentino.
Valentino Garavani:
The Main line of Valentino for both men & women. The accessory collection is a part of the Valentino Garavani label.
Valentino Roma:
For young women between the ages of 25 to 35, Glamorous, chic yet affordable.
Valentino White label:
For the young “yuppy man” …. age 25 to 35.
Valentino Red:
The diffusion label for both men & women was created for the younger generation for age 15 years upward. The clothes have the chicness of the main label & reflect the essence of Valentino but is young, trendy & very affordable. Prices start at Rs 5000 upwards.
Valentino is priced the same in India as it is in Europe. Valentino was the ideal choice for the Indian market because it caters to all age segments & has something for the older traditional consumer to the young hip teenager.
The accessories are ideal for sarees, trousseaus & traditional wear - so it adapts to Indian tradition.
Unlike other emerging markets - China, Russia, Dubai - India has consistently had its share of super wealthy customers. Western Luxury brands aren’t new to India either. In their heyday, the maharajas were enthusiastic customers for Louis Vuitton trunks and Boucheron and Cartier jewels as well as Osler Chandeliers. What has changed radically is that there is a burgeoning middle class of 300 million people growing by 25 million each year.
In spite of the maharajas’ opulent purchases of old, India has had a tradition of fiscal conservatism, of saving rather than spending. Yet the combination of a GDP rising at 8% per annum and one of the world’s youngest populations (more than 200 million people between the ages of 15 & 24) means spending power has shifted to those with a fever for fashion. Add to that the booming media in the world’s largest democracy bringing brand awareness, plus the reduction of once punitive import taxes and India starts looking like a retail gold mine.
Fifteen years ago, India was much more traditional. We had two TV channels. Now we have more than 80. The Internet, the media changed so much.
Mafatlal Luxury has the franchisee & distribution of Valentino for India.
Our 1st store is at the Shangri-la hotel, New Delhi & we are looking for the right location to open Valentino in Mumbai & then thereafter in the metro cities.
The lack of ideal retail space is the biggest hurdle faced by the Indian retailer, especially the luxury retailer. Unfortunately we have no Via Montenapoleone or Rue de Faburge st honore.
It’s a big mistake to intellectualize fashion. Fashion is for the eye, not for the head, unless it s a tiara.
Retail therapy is the best stress buster…… there is no better therapy than Retail Therapy.
Sheetal A Mafatlal - Retailer magazine
Retailer magazine - Questions answers – 23.10.2007
1. Name – Sheetal A Mafatlal
2. Designation in the present company - President
3. What was the reason behind joining the luxury retail industry? - India is on upward curve of a retail boom although the market still not a mature market. India has a tradition of fiscal conservatism of saving rather than spending. Yet the combination of a GDP rising at 8% per annum and one of the world’s youngest population (more than 200 million people between the ages of 15 & 24) means that spending power has shifted to those with a fever for fashion. Add to that the booming media in the world’s largest democracy bringing brand awareness plus the reduction of ones punitive import taxes and India starts looking like a gold mind for luxury retail.
4. What major changes have you noticed ever since you joined this industry? As business investment into India increases, India’s contact with other countries has exploded, with more Indian traveling abroad. Add to that the booming media in the worlds largest democracy means that Indians are now exposed to western lifestyle, ideas and brand awareness in a way that would have been inconceivable for the previous generation. Fifteen years ago, India was much more traditional. We had two television channels. Now we have more than 80, not to mention the Internet.
5. What major changes have you brought with your being in the present organization? As Maftlal Luxury’s founder, I have made a concerted effort towards constantly innovating and raising the bar for service. We are one of the few luxury brands to provide a customized personal shopping experience for our clients.
6. Tell us about the latest consumer behaviour. The Indian consumers history with international luxury lifestyle brands spans over 2 centuries particularly with the maharajas who were enthusiastic customers with money to spend. India has always had luxury & among the super rich a real appreciation for incredible quality.
What has changed radically is that the small elite of luxury buyers has been transformed into a much greater number by economic development & an improved standard of living.
7. The best way for promoting a brand? The brands are internationally promoted through media and satellite. I believe that in India it has to be a combination between the international way and the more personalized direct interaction with the consumer, as India is still not a mature market.
8. What future do you perceive of retail in India? India is the second fastest growing economy in the world after china. GDP and income per capita are set to grow on average 8% per annum for the foreseeable future. With a total of some 1.3 billion people, it is the second largest population in the world with the middle-income group of 300 million, which is growing by 25 million each year. This group spends on averages US$9,000 each year on luxury lifestyle, and that number is set to grow.
9. If you could change one thing about/in the retail industry in India, what it would be? There is a shortage of high quality retail space, suitable to provide the consumer with the complete luxury shopping experience. Finding negotiating and securing retail space is the biggest hurdle in the luxury retail industry.
1. Name – Sheetal A Mafatlal
2. Designation in the present company - President
3. What was the reason behind joining the luxury retail industry? - India is on upward curve of a retail boom although the market still not a mature market. India has a tradition of fiscal conservatism of saving rather than spending. Yet the combination of a GDP rising at 8% per annum and one of the world’s youngest population (more than 200 million people between the ages of 15 & 24) means that spending power has shifted to those with a fever for fashion. Add to that the booming media in the world’s largest democracy bringing brand awareness plus the reduction of ones punitive import taxes and India starts looking like a gold mind for luxury retail.
4. What major changes have you noticed ever since you joined this industry? As business investment into India increases, India’s contact with other countries has exploded, with more Indian traveling abroad. Add to that the booming media in the worlds largest democracy means that Indians are now exposed to western lifestyle, ideas and brand awareness in a way that would have been inconceivable for the previous generation. Fifteen years ago, India was much more traditional. We had two television channels. Now we have more than 80, not to mention the Internet.
5. What major changes have you brought with your being in the present organization? As Maftlal Luxury’s founder, I have made a concerted effort towards constantly innovating and raising the bar for service. We are one of the few luxury brands to provide a customized personal shopping experience for our clients.
6. Tell us about the latest consumer behaviour. The Indian consumers history with international luxury lifestyle brands spans over 2 centuries particularly with the maharajas who were enthusiastic customers with money to spend. India has always had luxury & among the super rich a real appreciation for incredible quality.
What has changed radically is that the small elite of luxury buyers has been transformed into a much greater number by economic development & an improved standard of living.
7. The best way for promoting a brand? The brands are internationally promoted through media and satellite. I believe that in India it has to be a combination between the international way and the more personalized direct interaction with the consumer, as India is still not a mature market.
8. What future do you perceive of retail in India? India is the second fastest growing economy in the world after china. GDP and income per capita are set to grow on average 8% per annum for the foreseeable future. With a total of some 1.3 billion people, it is the second largest population in the world with the middle-income group of 300 million, which is growing by 25 million each year. This group spends on averages US$9,000 each year on luxury lifestyle, and that number is set to grow.
9. If you could change one thing about/in the retail industry in India, what it would be? There is a shortage of high quality retail space, suitable to provide the consumer with the complete luxury shopping experience. Finding negotiating and securing retail space is the biggest hurdle in the luxury retail industry.
Sheetal Mafatlal - Business week international 10th April, 08 What do people look for when buying luxury in India. Are Indian luxury buyers any differ
Business week international answers:-
10th April, 08
Dear Nandini,
Please find the answers:-
1.What do people look for when buying luxury in India. Are Indian luxury buyers any different from those globally.
Unlike other emerging markets - China, Russia, Dubai - India has consistently had its share of super wealthy customers. Western Luxury brands aren’t new to India either. In their heyday, the maharajas were enthusiastic customers for Louis Vuitton trunks and Boucheron and Cartier jewels as well as Osler Chandeliers. What has changed radically is that there is a burgeoning middle class of 300 million people growing by 25 million each year.
A Valentino luxury consumer looks forward to enjoying the experience of shopping. To cater to that desire an ambiance of luxury must be created within the boutique and also be reflected in the surrounding area.
The Indian consumer has been spoilt by our “tradition of being served”. The difference for an Indian to buy luxury products in India and internationally is the “service” and the “recognition” they will receive when they walk into our Valentino boutique in India.
In an international store they will be just a client whereas in a Valentino store in India they will have the privilege of being recognized and served as a VIP client.
The Indian consumers mentality is also biased huge to the age-old tradition of “shopping” in the privacy of their own home. This service is also provided by us when we showcase our products by private appointments at clients home or in case of their businessmen in their offices. This is also an essential service to protect the privacy of VIP’S and celebrities who seeks privacy and confidentiality.
Another important reason why the Indian client will buy Valentino in India is because the merchandising of the store will be done to cater to the demand and taste of an Indian customer.
Merchandizing for women is done keeping in mind that the Indian woman still holds on to our culture and tradition – and veers towards the sari, salwar kurta, lenghas and other traditional wear especially for formal occasions
2. What made you zero in on Valentino. Is it a personal favorite?
The unmistakable signatures of the Valentino world is the colour —Red and the V logo- has become instant symbols of glamour, recognition and status. V is the symbol of singularity in his fashion. A fashion which began forty five years ago when the logo had not yet become an object of press attention, but a symbol of style. V, on prints, knits, jacquard, engravings, handbags, footwear, jewelry, buckles, broaches and watches.
V, as a sign of recognition.
V, as in Valentino.
Valentino as a brand provides luxury products to both men & women in India who appreciate the Valentino style, brand and products.
Valentino was the ideal choice for the Indian market because it caters to all age & income segments. It has a diverse range of products for both men and women & has the ability to cater to the older traditional consumer as well as to the young hip teenager.
Valentino has different labels suitable for different age and income segments. Thereby enabling every luxury consumer to have a Valentino product.
The different labels are:-
Valentino Garavani:
The Main line of Valentino for both men & women. The accessory collection is a part of the Valentino Garavani label. The Indian market for Indian women today is more accessory driven and the beautiful jeweled accessories of bags & shoes are a perfect fit to both western and Indian traditional wear.
Valentino Roma: - women
For young women between the ages of 25 to 35, Glamorous, chic yet affordable.
Valentino White label – men
For the young “yuppy man” …. age 25 to 35.
Valentino Red:
The diffusion label for both men & women was created for the younger generation for age 15 years upward. The clothes have the chicness of the main label & reflect the essence of Valentino but is young, trendy & very affordable. Prices start at Rs 5000 upwards.
I am not sure if it’s a positive or a negative but my impression is that in the Indian market Valentino is considered more of a luxury than the other available brands.
Much to our surprise the demand for Valentino men’s line has been as strong as the women’s.
3. Today, most luxury brand outlets are in five star outlets, as opposed to high end malls and stand alone stores overseas. Is that a restriction?
International brands entering the Indian market have a adapt to the retail scenario as India is a growing market. Retail space will develop but brands cannot expect to find Rue de Faburge or Via Montenapoleone. Hotels provide an environment conducive to luxury retailing - Air-condition safe and secure, clean with cafes and restaurants, amenities like parking, rest rooms etc. Brands are setting up in hotels as an entry point and have an option to open their second store as freestanding retail space develops.
Lack of suitable retail space is a problem faced in luxury retailing and does restrict growth in the luxury retail segment. But as India developed there will be freestanding stores and luxury stores in high-end malls.
10th April, 08
Dear Nandini,
Please find the answers:-
1.What do people look for when buying luxury in India. Are Indian luxury buyers any different from those globally.
Unlike other emerging markets - China, Russia, Dubai - India has consistently had its share of super wealthy customers. Western Luxury brands aren’t new to India either. In their heyday, the maharajas were enthusiastic customers for Louis Vuitton trunks and Boucheron and Cartier jewels as well as Osler Chandeliers. What has changed radically is that there is a burgeoning middle class of 300 million people growing by 25 million each year.
A Valentino luxury consumer looks forward to enjoying the experience of shopping. To cater to that desire an ambiance of luxury must be created within the boutique and also be reflected in the surrounding area.
The Indian consumer has been spoilt by our “tradition of being served”. The difference for an Indian to buy luxury products in India and internationally is the “service” and the “recognition” they will receive when they walk into our Valentino boutique in India.
In an international store they will be just a client whereas in a Valentino store in India they will have the privilege of being recognized and served as a VIP client.
The Indian consumers mentality is also biased huge to the age-old tradition of “shopping” in the privacy of their own home. This service is also provided by us when we showcase our products by private appointments at clients home or in case of their businessmen in their offices. This is also an essential service to protect the privacy of VIP’S and celebrities who seeks privacy and confidentiality.
Another important reason why the Indian client will buy Valentino in India is because the merchandising of the store will be done to cater to the demand and taste of an Indian customer.
Merchandizing for women is done keeping in mind that the Indian woman still holds on to our culture and tradition – and veers towards the sari, salwar kurta, lenghas and other traditional wear especially for formal occasions
2. What made you zero in on Valentino. Is it a personal favorite?
The unmistakable signatures of the Valentino world is the colour —Red and the V logo- has become instant symbols of glamour, recognition and status. V is the symbol of singularity in his fashion. A fashion which began forty five years ago when the logo had not yet become an object of press attention, but a symbol of style. V, on prints, knits, jacquard, engravings, handbags, footwear, jewelry, buckles, broaches and watches.
V, as a sign of recognition.
V, as in Valentino.
Valentino as a brand provides luxury products to both men & women in India who appreciate the Valentino style, brand and products.
Valentino was the ideal choice for the Indian market because it caters to all age & income segments. It has a diverse range of products for both men and women & has the ability to cater to the older traditional consumer as well as to the young hip teenager.
Valentino has different labels suitable for different age and income segments. Thereby enabling every luxury consumer to have a Valentino product.
The different labels are:-
Valentino Garavani:
The Main line of Valentino for both men & women. The accessory collection is a part of the Valentino Garavani label. The Indian market for Indian women today is more accessory driven and the beautiful jeweled accessories of bags & shoes are a perfect fit to both western and Indian traditional wear.
Valentino Roma: - women
For young women between the ages of 25 to 35, Glamorous, chic yet affordable.
Valentino White label – men
For the young “yuppy man” …. age 25 to 35.
Valentino Red:
The diffusion label for both men & women was created for the younger generation for age 15 years upward. The clothes have the chicness of the main label & reflect the essence of Valentino but is young, trendy & very affordable. Prices start at Rs 5000 upwards.
I am not sure if it’s a positive or a negative but my impression is that in the Indian market Valentino is considered more of a luxury than the other available brands.
Much to our surprise the demand for Valentino men’s line has been as strong as the women’s.
3. Today, most luxury brand outlets are in five star outlets, as opposed to high end malls and stand alone stores overseas. Is that a restriction?
International brands entering the Indian market have a adapt to the retail scenario as India is a growing market. Retail space will develop but brands cannot expect to find Rue de Faburge or Via Montenapoleone. Hotels provide an environment conducive to luxury retailing - Air-condition safe and secure, clean with cafes and restaurants, amenities like parking, rest rooms etc. Brands are setting up in hotels as an entry point and have an option to open their second store as freestanding retail space develops.
Lack of suitable retail space is a problem faced in luxury retailing and does restrict growth in the luxury retail segment. But as India developed there will be freestanding stores and luxury stores in high-end malls.
Sheetal Mafatlal at Valentino is priced the same in India as it is in Europe
Valentino is priced the same in India as it is in Europe. Valentino was the ideal choice for the Indian market because it caters to all age segments & has something for the older traditional consumer to the young hip teenager.
Market research shows that the GDP is up by 8% per annum. India is on the curve of a retail boom. All international life style brands are making a foray to India.
Merchandising for our Indian boutiques will be done keeping in mind the demand & taste of an Indian customer.
Our Valentino boutique will retail products as per the current season worldwide.
Market research shows that the GDP is up by 8% per annum. India is on the curve of a retail boom. All international life style brands are making a foray to India.
Merchandising for our Indian boutiques will be done keeping in mind the demand & taste of an Indian customer.
Our Valentino boutique will retail products as per the current season worldwide.
Sheetal Mafatlal - INTERVIEW ANSWERS:- 10th April, 08
Sheetal Mafatlal - INTERVIEW ANSWERS:-
10th April, 08
The fashion of Valentino takes the form of a dream that emits beauty and style. It’s an aesthetic transfer of idealized perfection that, once touched by real people and the surrounding world, comes to life with feeling and emotion.
It’s a dream that over the last 40 years has scattered and spread amongst millions of clients--women who are captivated by the eternal romanticism of Valentino.
Valentino – personifies what I want to look & what every woman aspires to look– elegant, feminine and glamorous. Valentino is a niche premium luxury brand. Valentino is only the latest luxury player to test the Indian urge for supreme exclusivity.
The fullest expression of this aesthetic ideal is without a doubt the Haute Couture, the original source for the creative research and development of all of the Valentino collections, from prêt-à-porter to accessories to perfume.
For Valentino, Haute Couture has always signified quality, precision in cuts and draping, attention to details and to the choice of accessories. It embodies the highest tradition of Italian creativity and craftsmanship.
Drawing upon incomparable values of the past while possessing a unique understanding of the present is what allows Valentino clothes to be both classic and ultra modern at the same time. Continuity is maintained, but always pushed forward.
The phenomenon of vintage, which has exploded in the last few years, as well as the continued success of pieces created over forty years ago, all point to this fact. The Jackie frock coat, designed for the then-First Lady, is still a “piece de resistance” in the collections, desired by women the world over.
Similarly, accessories, for both men & women have been re-launched using original fabrics, prints and decorative elements of past couture, have had an extraordinary success. A sparkle of glamour is effortlessly brought to every day life.
The unmistakable signatures of the Valentino world—Red and the V logo- become instant symbols of this glamour.
From the very first steps taken into the magical world of Valentino fashion, Red plays center stage. It is a symbol of creative freedom, of the bond between sensuality and femininity. Valentino’s red is the red of poppies (frequently printed on his clothing), of auras, of women dressed in red summer cotton. It heralds from Spain, but also from China.
V is the symbol of singularity in his fashion. A fashion which began forty years ago when the logo had not yet become an object of press attention, but a symbol of style.
V, on prints, knits, jacquard, engravings, applications, jewelry, buckles, broaches and watches.
V, as a sign of recognition.
V, as in Valentino.
Valentino Garavani:
The Main line of Valentino for both men & women. The accessory collection is a part of the Valentino Garavani label.
Valentino Roma:
For young women between the ages of 25 to 35, Glamorous, chic yet affordable.
Valentino White label:
For the young “yuppy man” …. age 25 to 35.
Valentino Red:
The diffusion label for both men & women was created for the younger generation for age 15 years upward. The clothes have the chicness of the main label & reflect the essence of Valentino but is young, trendy & very affordable. Prices start at Rs 5000 upwards.
Valentino is priced the same in India as it is in Europe. Valentino was the ideal choice for the Indian market because it caters to all age segments & has something for the older traditional consumer to the young hip teenager.
The accessories are ideal for sarees, trousseaus & traditional wear - so it adapts to Indian tradition.
Unlike other emerging markets - China, Russia, Dubai - India has consistently had its share of super wealthy customers. Western Luxury brands aren’t new to India either. In their heyday, the maharajas were enthusiastic customers for Louis Vuitton trunks and Boucheron and Cartier jewels as well as Osler Chandeliers. What has changed radically is that there is a burgeoning middle class of 300 million people growing by 25 million each year.
In spite of the maharajas’ opulent purchases of old, India has had a tradition of fiscal conservatism, of saving rather than spending. Yet the combination of a GDP rising at 8% per annum and one of the world’s youngest populations (more than 200 million people between the ages of 15 & 24) means spending power has shifted to those with a fever for fashion. Add to that the booming media in the world’s largest democracy bringing brand awareness, plus the reduction of once punitive import taxes and India starts looking like a retail gold mine.
Fifteen years ago, India was much more traditional. We had two TV channels. Now we have more than 80. The Internet, the media changed so much.
As an entrepreneur I identified that our lifestyle is changing. We are on the upward curve of the retail boom although the market is still not a mature market. I wanted to start with the right brand to spell western luxury.
Unlike other emerging markets - China, Russia, Dubai - India has consistently had its share of super wealthy customers. Western Luxury brands aren’t new to India either. In their heyday, the maharajas were The enthusiastic customers for Louis Vuitton, trunks and Boucheron and Cartier jewels as well as Osler Chandeliers. What has changed radically is that there is a burgeoning middle class of 300 million people growing by 25 million each year.
India has had a tradition of fiscal conservatism, of saving rather than spending. Yet the combination of a GDP rising at 8% per annum and one of the world’s youngest populations (more than 200 million people between the ages of 15 & 24) means spending power has shifted to those with a fever for fashion. Add to that the booming media in the world’s largest democracy bringing brand awareness, plus the reduction of once punitive import taxes, and India starts looking like a gold mine.
To take advantage of the retail boom we started to study the retail market closely as I head a company “Mafatlal Home Products” that manufactures Modular Kitchen & furniture but are selling only B to B (business to business). I wanted to go retail with the company - my study showed a huge demand in the luxury market segment & I decided to pursue that aspect of retail & started Mafatlal Luxury.
A Valentino luxury consumer looks forward to enjoying the experience of shopping. To cater to that desire an ambiance of luxury must be created within the boutique and also be reflected in the surrounding area.
Hence location is of prime importance.
I studied products of a lot of international brands & met with several designers & CEO’s .
I was looking at different brands & Valentino was one of them that would work in India & when I subsequently met Mr. Valentino & Mr Norsa (former CEO) for being a partner I felt most comfortable to partner with the group.
--------*---------
I am not sure if it’s a positive or a negative but my impression is that in the Indian market Valentino is considered more of a luxury than the other available brands.
Much to our surprise the demand for Valentino men’s line has been as strong as the women’s.
Valentino is neither a niche or mass brand. Valentino as a brand wants to provide luxury products to both men & women in India who appreciate the Valentino style, brand and products.
The Indian market for women today is more accessory driven. The Indian woman still holds on to our culture and tradition – and veers towards the sari, salwar kurta, lenghas and other traditional wear especially for formal occasions and weddings. Hence the focus for us in the Indian market for women is primarily for accessories for the Valentino garavani main line.
Unlike other emerging markets - China, Russia, Dubai - India has consistently had its share of super wealthy customers. Western Luxury brands aren’t new to India either. In their heyday, the maharajas were enthusiastic customers for Louis Vuitton trunks and Boucheron and Cartier jewels as well as Osler Chandeliers. What has changed radically is that there is a burgeoning middle class of 300 million people growing by 25 million each year.
India has the second fastest growing economy in the World, after China. GDP and income per capita are set to grow on average 8% per annum for the foreseeable future. With a total of some 1.3 billion people, it is the second largest population in the world, with a middle-income group of 300 million, which is growing by 25 million each year. This group spends on average US$9,000 each year on luxury lifestyle, and that number is set to grow.
What has changed radically is that the small elite of luxury buyers has been transformed into a much greater number by economic development and an improved standard of living. Importantly, the Indian culture itself has always displayed an appreciation for luxury goods and lifestyle. The combination of a GDP rising 8% per annum and one of the world’s youngest population – more than 200 million people between the ages of 15 and 24 – means that spending has shifted to those with a fever for luxury.
I think for international brands both a franchise route and JV would work in India. I do not believe that a brand would be able to enter the market on its own without any Indian partner & be successful.
International brands entering the Indian market have a adapt to the retail scenario as India is a growing market. Retail space will develop but brands cannot expect to find Rue de Faburge or Via Montenapoleone. Hotels provide an environment conducive to luxury retailing. Air-condition safe and secure, clean with cafes and restaurants, amenities like parking, rest rooms etc. Brands are setting up in hotels as an entry point and have an option to open their second store as freestanding retail space develops.
10th April, 08
The fashion of Valentino takes the form of a dream that emits beauty and style. It’s an aesthetic transfer of idealized perfection that, once touched by real people and the surrounding world, comes to life with feeling and emotion.
It’s a dream that over the last 40 years has scattered and spread amongst millions of clients--women who are captivated by the eternal romanticism of Valentino.
Valentino – personifies what I want to look & what every woman aspires to look– elegant, feminine and glamorous. Valentino is a niche premium luxury brand. Valentino is only the latest luxury player to test the Indian urge for supreme exclusivity.
The fullest expression of this aesthetic ideal is without a doubt the Haute Couture, the original source for the creative research and development of all of the Valentino collections, from prêt-à-porter to accessories to perfume.
For Valentino, Haute Couture has always signified quality, precision in cuts and draping, attention to details and to the choice of accessories. It embodies the highest tradition of Italian creativity and craftsmanship.
Drawing upon incomparable values of the past while possessing a unique understanding of the present is what allows Valentino clothes to be both classic and ultra modern at the same time. Continuity is maintained, but always pushed forward.
The phenomenon of vintage, which has exploded in the last few years, as well as the continued success of pieces created over forty years ago, all point to this fact. The Jackie frock coat, designed for the then-First Lady, is still a “piece de resistance” in the collections, desired by women the world over.
Similarly, accessories, for both men & women have been re-launched using original fabrics, prints and decorative elements of past couture, have had an extraordinary success. A sparkle of glamour is effortlessly brought to every day life.
The unmistakable signatures of the Valentino world—Red and the V logo- become instant symbols of this glamour.
From the very first steps taken into the magical world of Valentino fashion, Red plays center stage. It is a symbol of creative freedom, of the bond between sensuality and femininity. Valentino’s red is the red of poppies (frequently printed on his clothing), of auras, of women dressed in red summer cotton. It heralds from Spain, but also from China.
V is the symbol of singularity in his fashion. A fashion which began forty years ago when the logo had not yet become an object of press attention, but a symbol of style.
V, on prints, knits, jacquard, engravings, applications, jewelry, buckles, broaches and watches.
V, as a sign of recognition.
V, as in Valentino.
Valentino Garavani:
The Main line of Valentino for both men & women. The accessory collection is a part of the Valentino Garavani label.
Valentino Roma:
For young women between the ages of 25 to 35, Glamorous, chic yet affordable.
Valentino White label:
For the young “yuppy man” …. age 25 to 35.
Valentino Red:
The diffusion label for both men & women was created for the younger generation for age 15 years upward. The clothes have the chicness of the main label & reflect the essence of Valentino but is young, trendy & very affordable. Prices start at Rs 5000 upwards.
Valentino is priced the same in India as it is in Europe. Valentino was the ideal choice for the Indian market because it caters to all age segments & has something for the older traditional consumer to the young hip teenager.
The accessories are ideal for sarees, trousseaus & traditional wear - so it adapts to Indian tradition.
Unlike other emerging markets - China, Russia, Dubai - India has consistently had its share of super wealthy customers. Western Luxury brands aren’t new to India either. In their heyday, the maharajas were enthusiastic customers for Louis Vuitton trunks and Boucheron and Cartier jewels as well as Osler Chandeliers. What has changed radically is that there is a burgeoning middle class of 300 million people growing by 25 million each year.
In spite of the maharajas’ opulent purchases of old, India has had a tradition of fiscal conservatism, of saving rather than spending. Yet the combination of a GDP rising at 8% per annum and one of the world’s youngest populations (more than 200 million people between the ages of 15 & 24) means spending power has shifted to those with a fever for fashion. Add to that the booming media in the world’s largest democracy bringing brand awareness, plus the reduction of once punitive import taxes and India starts looking like a retail gold mine.
Fifteen years ago, India was much more traditional. We had two TV channels. Now we have more than 80. The Internet, the media changed so much.
As an entrepreneur I identified that our lifestyle is changing. We are on the upward curve of the retail boom although the market is still not a mature market. I wanted to start with the right brand to spell western luxury.
Unlike other emerging markets - China, Russia, Dubai - India has consistently had its share of super wealthy customers. Western Luxury brands aren’t new to India either. In their heyday, the maharajas were The enthusiastic customers for Louis Vuitton, trunks and Boucheron and Cartier jewels as well as Osler Chandeliers. What has changed radically is that there is a burgeoning middle class of 300 million people growing by 25 million each year.
India has had a tradition of fiscal conservatism, of saving rather than spending. Yet the combination of a GDP rising at 8% per annum and one of the world’s youngest populations (more than 200 million people between the ages of 15 & 24) means spending power has shifted to those with a fever for fashion. Add to that the booming media in the world’s largest democracy bringing brand awareness, plus the reduction of once punitive import taxes, and India starts looking like a gold mine.
To take advantage of the retail boom we started to study the retail market closely as I head a company “Mafatlal Home Products” that manufactures Modular Kitchen & furniture but are selling only B to B (business to business). I wanted to go retail with the company - my study showed a huge demand in the luxury market segment & I decided to pursue that aspect of retail & started Mafatlal Luxury.
A Valentino luxury consumer looks forward to enjoying the experience of shopping. To cater to that desire an ambiance of luxury must be created within the boutique and also be reflected in the surrounding area.
Hence location is of prime importance.
I studied products of a lot of international brands & met with several designers & CEO’s .
I was looking at different brands & Valentino was one of them that would work in India & when I subsequently met Mr. Valentino & Mr Norsa (former CEO) for being a partner I felt most comfortable to partner with the group.
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I am not sure if it’s a positive or a negative but my impression is that in the Indian market Valentino is considered more of a luxury than the other available brands.
Much to our surprise the demand for Valentino men’s line has been as strong as the women’s.
Valentino is neither a niche or mass brand. Valentino as a brand wants to provide luxury products to both men & women in India who appreciate the Valentino style, brand and products.
The Indian market for women today is more accessory driven. The Indian woman still holds on to our culture and tradition – and veers towards the sari, salwar kurta, lenghas and other traditional wear especially for formal occasions and weddings. Hence the focus for us in the Indian market for women is primarily for accessories for the Valentino garavani main line.
Unlike other emerging markets - China, Russia, Dubai - India has consistently had its share of super wealthy customers. Western Luxury brands aren’t new to India either. In their heyday, the maharajas were enthusiastic customers for Louis Vuitton trunks and Boucheron and Cartier jewels as well as Osler Chandeliers. What has changed radically is that there is a burgeoning middle class of 300 million people growing by 25 million each year.
India has the second fastest growing economy in the World, after China. GDP and income per capita are set to grow on average 8% per annum for the foreseeable future. With a total of some 1.3 billion people, it is the second largest population in the world, with a middle-income group of 300 million, which is growing by 25 million each year. This group spends on average US$9,000 each year on luxury lifestyle, and that number is set to grow.
What has changed radically is that the small elite of luxury buyers has been transformed into a much greater number by economic development and an improved standard of living. Importantly, the Indian culture itself has always displayed an appreciation for luxury goods and lifestyle. The combination of a GDP rising 8% per annum and one of the world’s youngest population – more than 200 million people between the ages of 15 and 24 – means that spending has shifted to those with a fever for luxury.
I think for international brands both a franchise route and JV would work in India. I do not believe that a brand would be able to enter the market on its own without any Indian partner & be successful.
International brands entering the Indian market have a adapt to the retail scenario as India is a growing market. Retail space will develop but brands cannot expect to find Rue de Faburge or Via Montenapoleone. Hotels provide an environment conducive to luxury retailing. Air-condition safe and secure, clean with cafes and restaurants, amenities like parking, rest rooms etc. Brands are setting up in hotels as an entry point and have an option to open their second store as freestanding retail space develops.
Sheetal Mafatla - Valentino luxury consumer looks forward to enjoying the experience of shopping
Valentino – personifies what I want to look & what every woman aspires to look– elegant, feminine and glamorous. Valentino is a niche premium luxury brand. Valentino is only the latest luxury player to test the Indian urge for supreme exclusivity.
A Valentino luxury consumer looks forward to enjoying the experience of shopping. To cater to that desire an ambiance of luxury must be created within the boutique and also be reflected in the surrounding area.
Hence location is of prime importance.
Finding the right location for a premium luxury brand like Valentino is the hurdle we are facing. In addition to finding a location which provides luxurious ambiance.
I studied products of a lot of international brands & met with several designers & CEO’s .
I was looking at different brands & Valentino was one of them that would work in India & when I subsequently met Mr. Valentino & Mr Norsa (former CEO) for being a partner I felt most comfortable to partner with the group.
I am not sure if it’s a positive or a negative but my impression is that in the Indian market Valentino is considered more of a luxury than the other available brands.
Much to our surprise the demand for Valentino men’s line has been as strong as the women’s.
Valentino is neither a niche or mass brand. Valentino as a brand wants to provide luxury products to both men & women in India who appreciate the Valentino style, brand and products.
The fashion of Valentino takes the form of a dream that emits beauty and style. It’s an aesthetic transfer of idealized perfection that, once touched by real people and the surrounding world, comes to life with feeling and emotion.
It’s a dream that over the last 40 years has scattered and spread amongst millions of clients--women who are captivated by the eternal romanticism of Valentino.
The fullest expression of this aesthetic ideal is without a doubt the Haute Couture, the original source for the creative research and development of all of the Valentino collections, from prêt-à-porter to accessories to perfume.
Pockets of resistance to Western ways of spending remain. "Older people cannot understand why you would spend as much on a handbag as you would on a piece of jewelry, which will increase in value," says Mafatlal, who adds that fine jewelry will always remain important in India. Today's younger women want accessories that can live up to their jewels, hence Mafatlal's insistence that Valentino, given the designer's taste for decorative accessories, be the first brand in MLP's portfolio.
For Valentino, Haute Couture has always signified quality, precision in cuts and draping, attention to details and to the choice of accessories. It embodies the highest tradition of Italian creativity and craftsmanship.
V is the symbol of singularity in his fashion. A fashion which began forty years ago when the logo had not yet become an object of press attention, but a symbol of style.
V, on prints, knits, jacquard, engravings, applications, jewelry, buckles, broaches and watches.
V, as a sign of recognition.
V, as in Valentino.
Unlike other emerging markets - China, Russia, Dubai - India has consistently had its share of super wealthy customers. Western Luxury brands aren’t new to India either. In their heyday, the maharajas were enthusiastic customers for Louis Vuitton trunks and Boucheron and Cartier jewels as well as Osler Chandeliers. What has changed radically is that there is a burgeoning middle class of 300 million people growing by 25 million each year.
In spite of the maharajas’ opulent purchases of old, India has had a tradition of fiscal conservatism, of saving rather than spending. Yet the combination of a GDP rising at 8% per annum and one of the world’s youngest populations (more than 200 million people between the ages of 15 & 24) means spending power has shifted to those with a fever for fashion. Add to that the booming media in the world’s largest democracy bringing brand awareness, plus the reduction of once punitive import taxes and India starts looking like a retail gold mine.
Fifteen years ago, India was much more traditional. We had two TV channels. Now we have more than 80. The Internet, the media changed so much.
A Valentino luxury consumer looks forward to enjoying the experience of shopping. To cater to that desire an ambiance of luxury must be created within the boutique and also be reflected in the surrounding area.
Hence location is of prime importance.
Finding the right location for a premium luxury brand like Valentino is the hurdle we are facing. In addition to finding a location which provides luxurious ambiance.
I studied products of a lot of international brands & met with several designers & CEO’s .
I was looking at different brands & Valentino was one of them that would work in India & when I subsequently met Mr. Valentino & Mr Norsa (former CEO) for being a partner I felt most comfortable to partner with the group.
I am not sure if it’s a positive or a negative but my impression is that in the Indian market Valentino is considered more of a luxury than the other available brands.
Much to our surprise the demand for Valentino men’s line has been as strong as the women’s.
Valentino is neither a niche or mass brand. Valentino as a brand wants to provide luxury products to both men & women in India who appreciate the Valentino style, brand and products.
The fashion of Valentino takes the form of a dream that emits beauty and style. It’s an aesthetic transfer of idealized perfection that, once touched by real people and the surrounding world, comes to life with feeling and emotion.
It’s a dream that over the last 40 years has scattered and spread amongst millions of clients--women who are captivated by the eternal romanticism of Valentino.
The fullest expression of this aesthetic ideal is without a doubt the Haute Couture, the original source for the creative research and development of all of the Valentino collections, from prêt-à-porter to accessories to perfume.
Pockets of resistance to Western ways of spending remain. "Older people cannot understand why you would spend as much on a handbag as you would on a piece of jewelry, which will increase in value," says Mafatlal, who adds that fine jewelry will always remain important in India. Today's younger women want accessories that can live up to their jewels, hence Mafatlal's insistence that Valentino, given the designer's taste for decorative accessories, be the first brand in MLP's portfolio.
For Valentino, Haute Couture has always signified quality, precision in cuts and draping, attention to details and to the choice of accessories. It embodies the highest tradition of Italian creativity and craftsmanship.
V is the symbol of singularity in his fashion. A fashion which began forty years ago when the logo had not yet become an object of press attention, but a symbol of style.
V, on prints, knits, jacquard, engravings, applications, jewelry, buckles, broaches and watches.
V, as a sign of recognition.
V, as in Valentino.
Unlike other emerging markets - China, Russia, Dubai - India has consistently had its share of super wealthy customers. Western Luxury brands aren’t new to India either. In their heyday, the maharajas were enthusiastic customers for Louis Vuitton trunks and Boucheron and Cartier jewels as well as Osler Chandeliers. What has changed radically is that there is a burgeoning middle class of 300 million people growing by 25 million each year.
In spite of the maharajas’ opulent purchases of old, India has had a tradition of fiscal conservatism, of saving rather than spending. Yet the combination of a GDP rising at 8% per annum and one of the world’s youngest populations (more than 200 million people between the ages of 15 & 24) means spending power has shifted to those with a fever for fashion. Add to that the booming media in the world’s largest democracy bringing brand awareness, plus the reduction of once punitive import taxes and India starts looking like a retail gold mine.
Fifteen years ago, India was much more traditional. We had two TV channels. Now we have more than 80. The Internet, the media changed so much.
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