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INDIA: THE NEXT FASHION CAPITAL

Pegging India as the next fashion capital is not mere prejudice; it is a fact that has been garnering grounds from multiple quarters.

Factually, since the 1920s' the world has been seeing a shift in its Fashion Capital, owing to changing economies and emerging markets. While foremost it was London due to British political prominence during the era, it later shifted to Paris. With the emergence of America as the next super power, New York became the new capital, followed by Los Angeles that obtained the prestigious status due to its proximity to Hollywood. Of late, Milan has been struggling to regain European dominance in the fashion circuit.

The Lehman Bros. era has now ended and with the West still reeling under the aftermaths of the economic meltdown, the fashion capital has to shift out of Europe and America and when that happens, India is the strongest candidate in the rut. Continuing the story forward, while the Indian Designer-wear Industry is pegged at Rs. 1000 crores, it is growing at an accelerating rate of 33 per cent per year. In the next few years, it has the potential to achieve a growth rate of 40-45 per cent and scale itself up to 8-10,000 crores. While the European and American fashion industry is struggling to sustain a meager 3-4 per cent growth rate owing to their recessive economy and saturated markets, India with its augmenting economy is certain to outrun them in the coming decade.

A clear testimony to this observation is the frantically increasing interest of more and more investors in Indian brands, to invest money, to buy stakes and riding on their upward success. [And by this, I strictly do not mean the recent Franklin Templeton Investment in Kimaya!]. Nearly all the upmarket foreign brands are here and the others are wrecking their brains to enter. While we have Gucci, LV, Dior and Fendi on one hand, we have Mango, Zara and Vero Moda capturing all the possible pockets. The day the FDI cap will relax to up to 51 per cent, the floodgates will open!

There is no denying the fact that the world is paying attention to the Indian story. With Galliano bowing to the tunes of Jai Ho, Canali and Etro launching India-inspired jackets, Hermes' India inspired scarves and ad-campaigns, and so much more, the story in never ending. Thanks to our diverse demography and inimitable artisanship, India has carved its niche. Nowhere else you will find such diverse growing populations with deep pockets, with fine tastes and an inclination to spend. This along with India the Indian story's rich cultural heritage, the variety of fabrics and an array of arts, which has been passed on for generations is what is making India a hot property.

Indian designers riding on this fact have started making in-roads on International fashion platforms and have already found patronage amongst celebrities. Manish Arora being appointed Creative Director of the women'swear collection of French fashion house Paco Rabanne or the partnership of Suneet Varma with Judith Leiber is just the tip of the iceberg. Being invited to the leading fashion weeks of the world including the likes of London Fashion Week and Milan Fashion Week is now a usual occurrence for Indian designers. To add more spice, Manish Arora, Falguni and Shane Peacock, Rohit Bal and the likes have found a loyal International clientele in Katy Perry, Fergie, Madonna, Rihanna, Jennifer Lopez, Uma Thurman, Cindy Crawford, Pamela Anderson, Naomi Campbell, Anna Kournikova and Heidi Clum… who are preferring Indian designers repeatedly on occasions.

India is set to roll and very soon, there is bound to be a snowball effect that will need major players to capitalize. Kimaya is raring to go… are you?

 
31-AUGUST-2011
 
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12 Comments
 
01-SEPTEMBER-2011 Tarakg Mishra
very true !!
 
 
31-AUGUST-2011 Sangeeta S Bahl: Certified Image Consultant
India is the place to be now!! Be it fashion, color or people. We have it in a plethora of activities that happen at events, parties and metros, not to mention Hollywood is making a beeline for India at every opportunity. Am honored to be a pioneer in Image Consultancy since 2006 and see a dramatic wave of interest that has stemmed from every nook and corner of India. Salute to your Astounding Vision, Mr Hirani. Cheers!
 
 
31-AUGUST-2011 Aditi Jaiswal
Mr. Hirani, kudos to you and your vision. I think this is the secret behind the unending success of Kimaya. Very acute observations, written in a very engaging manner..... hope to read more and more from you!
 
 
31-AUGUST-2011 Farah Palia
Exciting and thrilling to see India take some momentous steps and to watch what happens next. Congratulations on Kimaya's wonderful success!
 
 
31-AUGUST-2011 anonymous
JAI HO !!
 
 
31-AUGUST-2011 Ayush Kejriwal
Indian fashion is seeing exponential growth driven by established and new designers. India has been seen as a source of inspiration for Indian and International designers - surge in popularity of Indo-western garments. We have seen greatly increased awareness of fashion; birth of new groups influenced by cultural, social and economic factors. Transformation of fashion trends as a function of social status is an area of much interest and consequence and the distribution of demand for fashion clothing accessories etc across different levels of society has helped India demonstrate its sophisticated, classy, wealthy, quirky style.
 
 
31-AUGUST-2011 LAILA RAI
A very clear, bright vision. May Indian fashion succeed.
 
 
31-AUGUST-2011 sharmila nath
You have a very keen insight, Mr. Hirani. Congratulations on your success and your vision of India as the next Fashion capital.
 
 
31-AUGUST-2011 Sakshi Kathuria
India has been and is growing and undoubtedly I feel proud to be a part of India's fashion industry. KIMAYA has been a very strong and consistent driving force for the designers !
 
 
31-AUGUST-2011 Martin Hope
I have lived in India for 18 years. There is a very thin line between hope and reality. India, with its dream of the nation as a Fashion Capital, is like a trapeze artist walking a thin line. The fashion industry must consolidate as ONE to forge ahead. And it is only veterans like you who can make a difference.
 
 
31-AUGUST-2011 payal sengupta
I am not from the fashion industry but I am glad to hear this, Mr. Hirani. But, on a broader level, is India shining? Is it really on the path of becoming a super power? Even though India is surely marching ahead in fashion and business, are all Indians marching ahead or is it a fraction of the population? Food for thought...
 
 
31-AUGUST-2011 Narendra Prasad
Hi Pradeep, I am an analyst. The rise of our growing nation will change the balance of power in Asia—and the world. It is just a matter of time... the wheels have begun turning.
 
 
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