The fashion and design firms in India, through their features and respective USPs, are trying to reach out to niche buyers internationally. A special session at the Luxury Symposium directly addressed this area, about the evolving habits and demands of the luxury market. The panel discussed the renaissance in lifestyle brands that is redefining the demands of niche consumers.
The panel discussion was attended by various Indian and Italian dignitaries sharing their experience of the luxury market. Peter D’Ascoli, Creative Director, D’Ascoli & Company; Raseel Gujral Ansal, Creative Director & Founder, Casa Paradox; Andrea Maspero, VP, ANIE (National Federation of electro technical and electronic companies) and Chairman of Bhartiya Group, Snehdeep Agarwal were among the panelists at this session.
Snehdeep Agarwal talked about the evolving idea of luxury in India. He said, “I feel luxury today is the most misunderstood word. One day I went to DLF Emporio, and I was not well-dressed. I was wearing shoes I have had for the past 12 years and my worst pair of trousers. And the security guards asked me, “Who are you?” At the store I entered, the sales person literally pushed me out of the store. According to me, luxury is not something exclusive. The biggest challenge for the rising brands is to sustain themselves in the market for the next 20 years.”
Raseel Gujral spoke about her views on luxury. She said, “I always believe in sensibility rather than exclusivity. I hated the term luxury. Luxury is basically a perception. For business, we have to decide which kind of market we are catering to. For all of us should understand the temperament of luxury and have to be authentic enough to deliver that experience. You should be inclusive towards your audience that you target and the segment of the market you want to reach. That helps you to evolve as a luxury brand. That is my take on luxury.”
In addition to these panelists, Minister of State for Parliamentary Affairs, Vijay Goel also attended the event where he expressed his love for heritage and spoke about the importance of restoring Indian heritage. According to Goel, heritage is the true luxury product that India owns. He said, “I love heritage, I have a special place for Indian heritage in my heart.”