Flashes of Fashion Brilliance at Amazon Fashion Week

The focus of the spring / summer 2017 fashion week was undoubtedly, relentlessly, on the new. It was the ultimate experience for us. As we, the students of lcbs intent to make a foothold in the luxury industry, we were introduced to fashion world as we saw a live runway fashion show. The collections were inspired by European folklore & bohemian discipline

with explosions of color on them.

We got to know about many upcoming Indian designer & trends of the markets. The collections were designed by designer Shruti Sancheti and Ashish. There was an elegance & hauteur in the base fabric teamed with suede & mesh, they blended handwoven khadi denim & cotton with a European sensibility. The show was a perfect merger of aesthetic & inspiration.

bThe last but not the least, impeccable moment came when we saw singer Sona Mohapatra, who turned a showstopper for the label virtues, she was seen sporting a bright orange layered pleated dress, entered on the stage dancing to the song ‘Tere ishq ne nachaya’ sung by her.

We had an interesting & enriching experience indeed. These kinds of events inspire us to go ahead in our future and also we got to see many marketing activities around us like PR activities & advertising. The overall experience was very new & extravagant for us.

By-: Richa Singhal

PGDLM 2016-17

LUXURY & THE INCREDIBLE INDIAN AFFLUENT – TOP TEN MISCONCEPTIONSBy ABHAY GUPTA, Founder & CEO – Luxury Connect & Luxury Connect Business School, New Delhi, India

2016 comes to an eventful end with various upheavals across the globe. Ranging from terror attacks in Europe; the Brexit fiasco in Great Britain; the unexpected victory of Donald Trump in USA and to the last but not the least, the demonetization drive by Prime Minister Modi in India.

All these factors have had adverse and or positive impacts on the luxury domain. Global luxury industry valued at a whopping 1 trillion Euro in 2015 (Bain & Co) registered a mere 5% growth over 2014. The global luxury market has reached an era of single digit growth.

However, as the rest of the world stabilizes, the Indian growth story is hard to discount. For most luxury brands, India has become the ‘hottest market place’. Growing at approximately 25% CAGR, it is estimated to have reached $18.3 billion from $14.75 billion in 2015.

The single biggest factor contributing to this growth is the steep rise of the affluent class due to the stellar performance of the economy and the ‘start up’ culture. Estimates reveal that the number of HNI households have grown at a CAGR of 16% from 81,000 in 2011-12 to 146,600 in 2015-16. This is further expected to increase to 294,000 representing a total net with of IRS 319 trillion !

While there is a tremendous buoyancy around the affluent Indian & his luxury consumption, there are clearly a few misconceptions in the minds of the marketeers.

1.      The affluent Indian makes & spends money easily: This perhaps is the biggest misconception going around. Making a Indian spend his money is a acid test for any brand. India typically has two types of affluent – ‘The khandani raaes’ (traditional rich) and or the ‘New Maharaja’ (people who made money post partition in 1947). Both of them work long hours, forego a lot of personal time, make sacrifices, undertake a lot more risk  & add value to the society as compared to many others.  Hence, they are cautious spenders & research well before they splurge on luxury, only to seek the best. The traditional rich, being generally well-informed & highly knowledgeable, likes to preserve his heritage and wealth handed over by the generations. The new maharaja, on the other hand, having made the entire wealth in his own lifetime, is a cautious, hard working and extremely value-seeking customer. His erstwhile middle class background makes him seek justification for every spend he carries out.

Both seek respect for their time, recognition for their hard work, status and individuality – do not take them for granted.

2.      All Indian Nouveau rich are conspicuously ostentatious spenders:  While this may be true for a vast variety of customers visiting luxury stores, it is a grave mistake to generalize all the nouveau rich into logo thirsty clientele. Fact remains that many of the ‘valuation business’ (read e-commerce boom) super rich generation have made quick money in the past few years. Usually of highly technical background, the back end culture they belonged to never give them any real need for all things fancy & expensive. They now wish to acquire style to suit their status, which is not necessarily loud, & logo driven. They are shy as well respectful towards others, typically will experiment with brands, products, services. Influenced by other user experiences rather than just pure sales talk in their decision making process, they usually like to be subtle and elegant rather than loud and garish.

Treat them with respect for their human values and admiration for the success they have achieved in a short span of time. Not many can duplicate what they have achieved in a very short span of time.

3.      Most (new) Indian affluent can’t define luxury nor recognize luxury brands: On the contrary, most of them are clear with their definition of luxury. To mistake their simplicity for ignorance can be a fatal mistake. In a fast emerging market like India, they may not recognize the brand or even get the brand name pronunciations wrong. However, each one has his own purchase motivations, which may run beyond the standard boardroom definition of luxury. They are fast learners and would like you to arrive at the value proposition of your brand quickly.

‘Underestimate yourself & overestimate the other’ can be a sure shot success mantra. Inform, educate, guide and lead them to purchase.

4.      Luxury is the sole prerogative of the affluent class:  On the contrary, in a country like India, luxury is a bigger pull for various other classes. These range from the Henry, the upper middle class, the returning NRI, to the first time aspirant. (Read ‘The Incredible Indian Luxury Consumer). Luxury brands and services need to address and offer products that can draw in all such classes into their zone and create a much wider reach, recognition and goodwill for the brand.

India is a market with a majorly unexposed population – people with rich tastes and high cultural values seek all things good in life. Expand your horizon beyond the theory book definition.

5.      Indian affluent spend more on luxury goods than services:  There can be no bigger misnomer than this. While the initial spends are towards luxury goods like watches, apparels, accessories, automobile followed by home and interior, the switch to services happens quickly. The newly acquired status needs to be shared and appreciated by near & dear ones extending into a wider social circle. Spending on beauty, fitness, entertainment, fine dining, concierge, travel, tourism etc quickly ramp up the spend chart.

Offer compelling experiences to them and their circle of friends to enable them feel important in the eyes of their social network.

6.      Indians do not shop Luxury online:  A generally tech oriented nation, thanks to the smart phone revolution, the customer has quickly leap frogged into the digital space! From books to cars to homes and now even yachts are being sold online. Newer concepts like ‘Pre-owned luxury’; ‘Rent a luxury’ are not only adding new dimensions to luxury purchases but also new customers.

Be open to experiment and adapt to a fast evolving market.

7.      Indian affluent and Luxury is restricted to metro’s: Contrary to popular belief, the Indian affluent is spread across the entire country. Luxury brands do face a challenge with respect to setting up physical stores in every location, but servicing this fragmented market may be the key to success. The digi-wave has given many new customers to the luxury brands.  They now order through various channels ranging from wats app to face book messenger to trunk shows conducted by brands or event companies across the sub-continent.

Think beyond the metro’s – reach out, inform, educate the affluent beyond traditional markets.

8.      Indian affluent does not refer to consumer ratings:  The sharing economy encourages one and all to share experiences, thoughts, opinions and post purchase reactions. Once again, a typically technologically inclined nation, engages with unknown brands basis not only the opinions shared by the brand website but also other uses comments and reactions. This is particularly so in the service sector. While WOM is the universal promoter for luxury goods & services, online referrals are equally important for a wider reach.

Be true to the customer by sharing genuine advice & information rather than exaggerated claims. The customer is in all probability pre-informed.

9.      Indian affluent in not brand loyal: While most Indian are yet experimenting with luxury brands and services, the fact remains that by basic nature Indians are generally very loyal – to their wives as well as their brands ! Affluent who have done the entire trial cycle swear by the brand they settle with unless until they encounter some quality or service issue.  

Ensure to deliver product and service value every time that the customer shops with you. Do not take him for granted.

10.  Demonetization will affect luxury consumption: Against popular belief, a informal survey with most brands across goods & services show that the affluent and the brands both have embraced the digitization drive for money transfer very well. Post an initial lull and slow down, it is anticipated that business will be back to normal very soon.

Luxury surely is recession proof – unaffected by shocks in the economy or otherwise. The Indian affluent continues to enjoy his taste of all good things in life.

Opportunities for Entrepreneurs in the Booming Luxury Industry

The word entrepreneur originates from the French word, entreprendre, which means “to undertake.” In a business context, it means to start a business. The Merriam-Webster Dictionary presents the definition of an entrepreneur as one who organizes, manages, and assumes the risks of a business or enterprise.

 What is entrepreneurship?

A business model in which you create your own business entity and perhaps hire a few people is entrepreneurship. Over and above all, entrepreneurship is a mindset which makes you think beyond the normal. A craving, a desire and a ambition to break past the set norm and create a unique identity for oneself and his enterprise.  Entrepreneurship is also a process of new venture creation.

 Who is an entrepreneur?

Someone who wants to self employed and also generates employment for others is an entrepreneur. Someone who wants to be his own boss is an entrepreneur. Someone with a vision, a passion for his product or service and a deep determination to succeed against all odds is a entrepreneur. So we can summarise that
‘ An entrepreneur is someone who organises, manages and assumes the risk of a business entity, enterprise and or identity in either goods or services sector’.
‘Entrepreneurs are people that notice opportunities and take the initiative to mobilize resources to make new goods and services.’
“one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods”.

 What are the typical qualities of an entrepreneur?

A tendency to break away from the regular and be different.
Spot the needs / problems / challenges and convert them into opportunities for success by being solution oriented.
A determined mindset to innovate, create value and be continuously growth oriented.
A Original thinker.
A Risk taker.
Takes responsibility for own actions
Feels competent, confident and capable
Sets high goals and enjoys working toward them even with high personal sacrifices

 What is Luxury?

Luxury is a often misused term in today’s world ! Almost everyone and everything claims to be ‘Luxury’. So what really is the meaning of ‘Luxury’ ??

If one tries to Google the word luxury, one is thrown up with innumerable meanings in a split second ! This only means that ‘Luxury is relative & subjective’ – meaning ‘to each his own’.

In the words of the famous Coco Channel, ‘Luxury begins where necessity ends’.

We can thus summarise that luxury is much beyond need – it is a desire that fuels our emotional appeal. Something which defines our social status to others besides just providing us material comfort, great quality, unquestionable functional benefits and makes us feel a part of a social set normally called ‘The Elite’.

Luxury enterprenuers

 So what then is Luxury Entrepreneurship?

Someone who has a burning desire to create a business venture or a product or a service which services this sector directly or indirectly is a luxury entrepreneur. A individual with a uncanny eye for detail and excellent customer service can be a successful luxury entrepreneur.

 What are the sectors one could explore within the Luxury domain?

Unfortunately, most people link and restrict luxury to fashion and ramp shows due to the glamour attached. There is no doubt that fashion is a essential part of luxury and is in every way the fulcrum point, but luxury extends way beyond fashion, giving a entrepreneur options to choose from areas like jewellery, watches, fitness & wellness, beauty and skin care,  real estate, home and interior, aviation, yachting, automobiles to also travel, tourism, hospitality and events etc. Luxury is a complete lifestyle and defines the usage pattern of the affluent class.

If one is a fashion designer, or has a inclination to be beautician, traditional jeweller, boutique owner, travel service provider or event a wedding planner, it is possible for him to position himself in this niche space.

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 What are the Growth opportunities in the Luxury sector?

Luxury in India has been growing continuously at a pace of 20 – 25 % PA for past several years. Currently at about 18.5 b USD, it is expected to touch 50 b USD by 2020 and 180 b by 2025. (as quoted by Amitabh Kant in February 2016). The ‘make in India’ movement is expected to fuel the domestic design industry towards this sector. Recent success of young Indian designers is a case in example of this rising phenomena.

 How is Luxury Entrepreneurship different and how can one become one?

In the luxury space, the depth of the vision, the originality of the creative designer, the brand building process, the marketing & communication as well as the customer service orientation is completely of a different level. The aura of the brand, the magic around the intangibles, the romance & mystics behind the product which is accentuated by the impeccable service play the key role.

 Let us say that the basics remain the same, but the treatment is entirely different.

 The best way of course is to undertake a short course on ‘Luxury Entrepreneurship’ to clear up ones concept and knowledge of this sector and study in depth the nuances involved in handling such a business

 Then on, if one is a creative person he can begin on his own. If one is a moneyed person, he can have his idea developed by a creative team. Alternately, there is a plethora of national & international luxury brands across sectors that are keen to reach out to the Indian luxury consumer and the fast growing market here. One is open to explore franchise opportunities with them.


Abhay Gupta,

Founder & CEO – Luxury Connect & Luxury Connect Business School

Good Earth

This time we got a chance to visit the pioneers of handcrafted luxury goods of India, The Good Earth. Mrs. Saswati Roy, VP wholesale and exports guided us through the whole visit. She shared her experience with the brand and how Mrs. Anita Lal, the founder of Good Earth started with the brand in India. Overall experience with Good Earth was very knowledgeable and beneficial. As soon as we entered the store it had a sense of peace, the atmosphere inside the store was very positive. Maybe the store was designed in such a way, or the products were reflecting their brand’s identity, or the music was the reason, or the fragrance it had made the overall environment peaceful. We were very lucky because the day we were visiting the store, Good Earth was launching its new range of wall coverings. The thing I really liked about Good Earth was that, they have designed the stores with their own range of products which is really creative and commendable. I am really thankful to LCBS for organizing such a beneficial store visit and to Mrs. Roy for sharing her experience and sparing her valuable time talking to us.  Looking forward to many more visits like this. 

                                                                        - By Gitansh Kumar

                                                                                                 Luxury Professional Student
                                                                                                 PGDLM (2016-2017)  

When Career and Passion Come Together!

“In order to attain Luxury, first learn how to manage it” ~ LCBS

Having completed my MBA in Media and Communication alongside with a PGDLM in Advertising & branding, I worked for a year and a half in a syndication firm, effectively included in selling of content and went about as a CRM Executive.  A research project on Burberry and my love for branding set off my enthusiasm in the Luxury Sector. After researching and going through many colleges, I settled on my decision and chose Luxury Connect Business School, the first and only Luxury Boutique School, and enrolled myself for a PGDLM in Luxury Brand Management in association with International University of Monaco. Like everyone, I had my apprehensions about enrolling in a college that started its operations in the year 2013 and was worried about the placement opportunities, but one look at the team heading the Institute, and I was convinced that I was in safe hands. The founder and CEO of the college, Mr. Abhay Gupta, is acknowledged as an industry leader by Forbes, Economic Times, CNN-IBN, NDTV, Hindustan times and Awarded as the ‘Luxury retail icon of the year 2012′ by Asia retail congress. He helped not only bring but establish luxury brands like Versace, Versace Home, Versace Collection, Corneliani, etc in India.

On the 17^th August, dressed in formals, I made my way to LCBS. To be honest, I have always enjoyed being a student and was excited to start my journey and interact with the faculty and my fellow classmates. The faculty and the staff welcomed us with utmost warmth and arranged ice-breaker sessions for us well. It was intimidating to have people standing in front of you with 25 years of experience behind them and realize that they have had worked with some of the best of the Luxury Brands, yet it was incredible to see them acting so modest and amicable. Whatever little qualms I had in my mind, soon vanished after we had a brief session with the alumni, who are successfully placed in different Industries in the Luxury Sector.

Day 2 of the induction and I find myself standing in the Dior store interacting with store manager! As a part of our Industry visit, we visited DLF Emporio and made visits to Dior, Louis Vuitton, Michael Kors, Armani Junior and Corneliani. The college had arranged for a personal visit to these stores to get hands on experience on the extravagance luxury retail market, know the brand history, and study the store design along with the products displayed. In spite of me hailing from Bombay, it was overwhelming to interact with the store managers and get the vibe of luxury brands. No more we were the customers, but aspiring Luxury Professionals! Right from the mall entry to the whole ambience and the personnel at this Luxury Retail Mall, I was awe-struck! My favorite brand visit would be Dior, a brand that has strongly imbibed its rich culture heritage in the store design and its products. Special mention for the extremely humble and courteous manager at Dior, who made sure we were comfortable and gave us a well guided tour across the store. Oh! Did I mention that I got the chance to pose with the classic Dior bag worth Rupees 2.7 lac! ;) (Perks of the course).It was now clear to me that this Industry demands you to be passionate, creative and innovative! The right attitude and knowledge will always take you a step ahead. On the 3^rd day, we had the Industry people visit us. Mr. Rolf Blaser, the country head of Safilo, India, shared insights about the company that is the second largest manufacturer of sunglasses and frames for most of the leading fashion luxury brands. Followed by the enriching session, we had the ex-country head of Burberry, Miss Nalini Gupta guiding us through the nuances of Luxury Industry and sharing her profound experiences at Burberry.

The three days of Induction and Introduction to the course evolved me from a mere information gatherer to a knowledge absorber. I am happy to be a part of a school that is fun, interactive and promotes experiential learning alongside great exposure! All geared up to start my journey and be a part of a world beyond ordinary! Closing off with a quote from one of my favorite Luxury brand;

“The best things in life are free. The second best are expensive.” ~ Coco Chanel