Apparel Online India Magazine February 1st Issue 2019 | Page 34

FASHION BUSINESS
that suits every morphology unlike
clothes. One can be of any height,
weight or colour to wear a bag. A
bag is not a dress that may change
with the body. This aspect of bag
or other leather accessories drives
customers to buy them more often.
Other products that work well for
brands in terms of numbers are
perfumes, cosmetics, sunshades
and shoes.
What is the difference between
high-end vs true luxury in
fashion?
a story to tell. It needs to be an
iconic piece, something that
created a sensation when it was
launched. It needs to be worn,
or seen, or celebrated, or known
to people over a period of time.
These products eventually gain a
reputation of being aspirational
products. Everyone aspires to have
one. They want to be associated to
that product.
We can take up the case of the
Birkin bag of Hermès or Chanel
2.55. These bags are classic
and have been selling/reselling
for decades because of their
aspirational value. When clients
buy these bags, they associate
themselves to be part of that
story history.
Luxury brands also create
exceptional products. Something
which has not been seen before
or done before. It is for the
clients who want to feel unique.
Clients who buy luxury products
on a regular basis surely have
purchasing power and are always
looking for something new, since
they can buy anything in the world.
I feel in India, we don’t focus on
the aspirational value of a product.
I don’t know one brand in India
that is famous for one iconic
product. A specific product that
is wanted by the client season
after season. A product that has
a resale value. I am not talking
about jewellery here.
We should focus on the storytelling
of the brand. If you enter a Chanel
store, they will tell you stories
after stories about the logo, the
ESSENTIALS
Luxury brand will
always remain
at the top of
the fashion
pyramid. Most
designer brands
want to achieve
that status.
Approximately
90 percent of the
products offered
by a European
luxury brand are
made in Europe.
They may source a
few raw materials
or hire jobwork
from another
country that is
best known for
it. For example,
crocodile leather
comes from far
East Asia as it is
best produced
there. In today’s
time, producing
in Europe is
very expensive
but luxury
brands make no
compromise.
bag, the details of the bag (why
it has been put in such a way)
and it goes on and on. It makes
people dream and they want to be
associated to these stories. For
instance, Mona Lisa is just a lady’s
portrait. It is the stories around
the painting that have made it
so famous.
Which are the key fashion
markets around the world?
How are they similar or
different from one another?
The key fashion markets around
the world are the four classics
– Paris, New York, London and
Milan. The only thing similar
between these cities is that they
receive clients (both locals and
tourists) every year who buy
luxury products.
Paris tops the list in luxury
business as it has the most
reputed luxury brands in the
world like Chanel, Hermès, Louis
Vuitton, Dior and many others.
Other cities like London, New York
or Milan also have luxury brands
but the market value of French
brands is higher on an average.
In Asia, which luxury brands or
products do customers identify
more strongly with and why?
According to statistics, the brands
mostly demanded by Asians are
Chanel, Hermès and Louis Vuitton.
Luxury brands make the most of
their business through ‘leather
goods’, be it in Asia or any other
part of the world. It is one product
34 Apparel Online India | FEBRUARY 1-15, 2019 | www.apparelresources.com
One can differentiate between a
high-end vs luxury fashion only
when one starts working for them
or starts buying them.
It’s like comparing bukhara dal
with some other restaurant dal. It
comes with the tasting. One surely
knows that in bukhara dal, the
best of the ingredients are used.
There is a real ‘savoir faire’ about
the making of that dal.
Similarly, luxury fashion hires
the top-of-the-line designers,
raw materials and fabricators
to develop their products. They
have real finesse to get the
best products.
Approximately 90 per cent of the
products offered by a European
luxury brand is made in Europe.
They may source a few raw
materials or hire jobwork from
another country that is best known
for it. For example, crocodile
leather comes from far East Asia
as it is best produced there. In
today’s time, producing in Europe
is very expensive but luxury
brands make no compromise.
A high-end fashion product
may look similar to the luxury
fashion product but lacks high-
end materials or fabrication. It is
usually made with less expensive
materials and in countries where
production cost is low.
What is the future of luxury?
Luxury brand will always remain
at the top of the fashion pyramid.
Without it, the fashion business
will be incomplete. Most designer
brands want to achieve that status.
It’s a status that needs a lot of
hard work, financial investments
and credibility. Not every brand