On the surface, one could say, it was just another fashion show. But the Moschino show, held recently in Mumbai, was indicative of big changes in the way business is done in the Indian hi-end fashion industry. The show was slick, short and chic, with no room for tomfoolery, i.e. cloaking shoddy entertainment in the name of fashion.
With a turnover of 250 million Euros (2004), this label owned by AEFFE Fashion Group, (one of the biggest Italian Fashion conglomerates which also own brands Alberta Ferretti, Jean Paul Gaultier and Pollini) is here to do serious business. And they are doing it by one very sacrosanct rule: brand consistency at any cost.
Armed with international business acumen, extensive local research, PR savoir-faire and marketing prowess, this is the beginning of exacting international standards in a local industry characterised by every other advertisersponsor piggy-backing fashion for its glamour, whilst de-valuing the very designer label that it supposedly promotes.
Look at Ermenegildo Zegna. It is re-positioning its businesses in India with flagship stores planned for New Delhi (Imperial Hotel) and Mumbai (Insomnia night club at the Taj Palace) based on among other things, the premium MTM (Made-to-Measure) market.
While Zegna has a very stratified approach globally with their various brands, namely, Ermenegildo, Zegna, Zegna Sport and Z Zegna, each targeted to a specific demographic with individual identities, it is their local knowledge that has given them the edge.
“We balance our business in localised markets with special impetus on certain brands or within brands, certain product categories. For instance, Made-to-Measure is the premium segment of tailored clothing offered by Ermenegildo Zegna. Falling under the sub-category of sartorial and couture, each made to measure suit, garment or shoe is meticulously manufactured to the client’s needs.” says Rahul Prasad, MD, South Asia, Zegna.
In fact, their store in Singapore has an ‘open kitchen’ appeal where one can actually see how the suit is being cut.Whether it’s Louis Vuitton or Chanel, Western brands have carved a niche space in the hi-end market without flinching from their global brand delivery.
In India, one of the biggest frustrations for entrants has been finding employees who understand the business and language of luxury. Delivering the message consistently to clients will be a major challenge.
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