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.

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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.