Jimmy Choo's India fit includes a combo of luxury, tech, and a bit of Bollywood too

In an exclusive interview, Pierre Denis, the global CEO of luxury shoemaker Jimmy Choo, talks about its $1.2-billion acquisition by Michael Kors last year, its business in India through its partner Genesis Luxury, its red-carpet clientele, plans for this year and the future of luxury. Edited excerpts:

Q: What led to the $1.2 billion acquisition by Michael Kors and how has the brand performed last year?
A: Luxury is a fascinating business and it is at the heart of the evolution of a lot of trends in the world and the way people dress and carry themselves. Jimmy Choo is a company that is selling accessories, bags and shoes, and accessories are changing the way people dress. Jimmy Choo is a great brand, a great name and every 5 years, we have been selling the company to new investors. There is a time when you want long-term visibility on what you want to do and to continue the development.




Our business of luxury has always been about products and storytelling and shops but now in each country you have influences in the digital space, there are influencers from Bollywood, influencers on Instagram. You need to have content from all over the world you need to have technology which is different from everybody. You need to integrate your experience now in the shop with the digital experience and I think India is a country which is very digitally driven.

The story of getting purchased by Michael Kors is about that. It is about going to the new age of luxury where products which we are good at, meeting the technology for the future. For that we need substantial investments and I am glad to partner with Michael Kors and doing this together will reinforce the strength of the two brands. We have had good growth last year. Luxury, as an industry, also did better last year.



Q: How has India performed for the brand? You talked of India being digitally driven. Would you consider selling online here?
A: India is doing well for us. We are a British brand. There is a relationship between the UK and India which is natural. This brand has been over-performing in India probably because of the heritage of being a British brand. India is special. There are still a lot of clients who dress traditionally here but I believe that there are some clients whose way of life is as close to the French or the people in Dubai and that’s the population we are targeting.

India is a very paradoxical country where people are getting affluent but at the same time the real estate is already very expensive. So maybe there’s another way to do it. And this other way could be digital. That is part of the reason why I’m here. We already do it from London. But when you buy from London you pay taxes, duties. The question is what do you do to solve that problem. Digital is where the world is going. As a British brand owned by an American company we are embracing the digital revolution, we are not trying to fight it in terms of communication and selling online, and whether we could do it in India. To figure that out is one of the key reasons of my visit.



Q: Jimmy Choo is known for its red carpet, A-list client endorsements. Who are your celebrity clients here?
A: We respect client confidentiality and cannot name anyone, but we are excited to see what we can do with Bollywood. We are collaborating with a Bollywood actress for a small collection but we cannot share the name right now. It will be fun and entertaining. We are a global brand but recognise that there are global influencers.

Q: What is your outlook on the future of luxury?
A: I am optimistic about the luxury market. Luxury will continue to grow in countries like India which are building big cities. As people move to these cities, consequently everything gets complicated. There will be this need to indulge in some pleasure, to get away from everyday work life. The new urban population would want to get to a certain level of affluence.

Luxury provides a state of life which is very aspirational for the city-goers who go there to make a living. For example, Mumbai is still very under-represented in India and retail needs to be reinforced there in general. In China, about 60-70% of people are living in cities already. India is going to lead in a similar way. There are plenty of opportunities in Delhi, Mumbai but also probably in cities like Kolkata in future.