LVMH team in India on brand recce

NEW DELHI: It could be a fashion moment, or a sure sign that the luxury market is really kicking in. Unknown to most, 12 top honchos of fashion labels belonging to the $20-billion LVMH Moet Hennessy-Louis Vuitton, arguably the world’s largest luxury conglomerate, are in India to see for themselves what the buzz is all about.

Headed by Pierre-Yves Roussel, chairman and chief executive, LVMH Fashion Division, and executive committee member, the motley crew are meeting the country’s fashion fraternity, policy makers, developers of destination retail, and, of course, some high-profile consumers to get a first-hand experience of what many are already calling the ‘great Indian dream’.

Although the Bernard Arnault-owned group is known more for rockstars such as Christian Dior, Louis Vuitton, Fendi and Donna Karan, Mr Roussel has been given the mandate to shore up global profits of the relatively low-key brands such as Celine, Givenchy, Kenzo, Marc Jacobs, Loewe, Pucci and Berluti.

So, who has Mr Roussel brought along to India in search of new markets? Bertrand Stalla Bourdillon of Marc Jacobs, Serge Brunschwig of Celine, Alberto Lavia of Kenzo, Marco Gobbetti of Givenchy, Alberto Puyol of Loewe, Thierry Maman of Berluti, Didier Drouet of Emilio Pucci, Luigino Rossi of Rossimoda and John Swain of CEO Interlux. “Basically, we want to build brands with character and a difference,” Mr Roussel told ET in an exclusive chat.

And given Louis Vuitton’s starry performance in India, it was only time before Mr Roussel brought his portfolio down to India. “This is a very important market for us. We really see it among the top 10 markets of the world,” he said.

The brands will not flow in one go, and may have mixed market developments. “We will decide as we go along. We are looking at direct investments, local partners and multi-brand stores. The problem at the moment is that India doesn’t have a defined retail environment,” Mr Roussel said.