It’s metallic finish and unusual structure does catch your attention in the store. The least it does is to compel you to reach for its card and check out its price. ?Rs 1.25 lakh?, you read, thinking ?that?s not too affordable.? You turn the card to find its brand ? ?Etienne? by Aigner. And that does explain a lot ? at least to the extent of putting your raised brow to rest. Well, the writing on the wall is quite clear ? hedonism is rewriting the laws of economics, with luxury becoming the new necessity.
Louis Vuitton and Chanel no longer turn as many heads here as they used to some time back. Even brands like Hidesign, devoted to the affordable luxury market, are gradually seeking to shift to the niche luxury segment. Escada, Christian Dior, Louis Vuitton, Jimmy Choo, Chloe, and Chanel are rubbing shoulders to catch the attention of the Indian consumer who undoubtedly has an enviable fashion quotient. A tote, a handbag, a clutch and a sling bag qualify to be the bare minimum wardrobe accessories for women. The men can?t do without moccasins, tanned and classic patent in their collection. Most international brands are launching their new collection simultaneously in India. And if figures are any indication, there?s plenty of promise there too ? the India International leather fair generated $110 million worth of business this year.
Fendi entered the Indian market exactly one year back. ?We knew we had a loyal customer base in India who shopped for Fendi products internationally. So, we were confident of good prospects here. We were already doing well in the wholesale business and a liberal policy regime here felt all the more inviting,? feels Francois Ganes, area manager, Fendi-Middle East and India.
Ganes? optimism seems infectious. ?We have seen the Indian consumer evolve over the years. Today, they are well travelled, informed and willing to pay for a good product. They are investing in accessories to compliment their look ? from leather briefcases, shoes to wallets and belts,? says Shantanu Mukerji, country head, Zegna. Ermenegildo Zegna entered the Indian market in 1999 through the franchisee route, because ?that was the only corporate structure permissible then.? Now they are more than happy with the change in the regulatory environment in single-brand retail.
The presence of international brands is hardly a threat to the homegrown ones like Woodland. Indians still swear by this ?leather that weathers.? The brand has also managed to create a niche for itself abroad ? be it Singapore or UAE. Though the brand is also into apparel, leather continues to dominate 60% of its pie. But isn?t the presence of international brands affecting it at all? ?There?s enough space in the market for everyone. Our customer base has expanded ? people are more aware of all the brands now. Earlier we were only targeting the metros. Now we are moving into smaller towns as well. In fact the growth is more than we had ever imagined,? Harkirat Singh, MD, Aero Club, the company behind Woodland, says divulging hesitatingly their turnover ? ?Rs 250 crore?.
Meanwhile Hidesign is trying hard to crack the international market to boost its Rs 100-crore turnover. Having set up shop in Shanghai and also at Honk Kong airport, Dilip Kapur is trying to find the nerve of the market. ?Culture plays a big role in determining this market. Unlike India, where women love structured bags with sleek lines, the Chinese like their bags to be huge, the flip-flop variety,? says Kapur, founder, Hidesign. The Pondicherry-based affordable luxury brand, also present at the up-market Carmel in California where it shares space with the likes of Prada and Gucci, is now gradually trying to enter the niche segment. Presently, the average unit sale for Hidesign stands at a modest Rs 2,000. ?To be able to hold our own there is immensely motivating,? adds Kapur. Quiz him about its association with Louis Vuitton Moet Hennessey and Kapur candidly obliges. ?So far we had been thinking only from our perspective. Now, we are learning from Vuitton to think from our customer?s point of view.? Kapoor however admits: ?In terms of size we are still small ? at least relatively?compared to Vuitton.? Relating the reaction of Vuitton officials who came to the factory, Kapoor says: ?They were intrigued by the crafting of leather the forgotten way. We still use vegetable tanning because it is not detrimental to the environment. They were surprised to see how skilled our workers are? the precision with which they use the knife to cut leather.? Clearly, the possibility of a leather line, between mass and elite luxury, seems quite imminent.
While we wait for that one, patent leather has become the ruling fad. ?Anything that is bling and shiny is doing really well. Especially the big chunky belts and the accessories in metallic finish. Aigner has been registering a growth of over 100%,? says Rekha Arora, brand manager, Aigner.
Quick to adapt to the trend, Ermenegildo Zegna launched its black patent or ?high polish? leather shoes for formal evening wear like a tuxedo. Within the high polish look they have also launched a range of hand-polished limited edition accessories like single or double briefcases, hold-alls, pochette, billfolds, coin pursees and card cases.
The trend abroad is pretty much the same in terms of leather accessories ? ?apart from quilting, soft weaving is attracting a lot of attention. Teenagers still prefer the washed and rugged look, while the middle-aged like sporting metallic accessories and also the croc print for its no-fuss feel,? says Anubhuti Bhalla, a National Institute of Design alumni who has been working with Cheviot International as technical design manager for the past couple of years. Cheviot, a 100% leather export firm, caters to high-end international brands.
But not everyone subscribes to the assembly line. Even as most people can be seen wearing patent, the urge to wear something
?different? dominates amongst the rest. The pulse of the market moved Swati Mehrotra to design leather accessories on request under the brand name Swati Modo. So, if you want to enshrine a special memory in a shoe, Mehrotra is the person to get in touch with. She has already designed theme footwear like ?Rainfall at the Taj?, ?Pet Animals?? ?Once I had to design a shoe from the tweed that a man got from his fianc?e,? she recapitulates.
The leather mart is bursting at its seams. You can even be passionate about animal rights and flaunt leather at the same time. How? Faux leather is the answer. 32-year-old brand Cheemo, realising its potential, decided to specialise in faux leather. ?It?s for the people who support People for the Ethical Treatment of Animals and for customers who can?t use real leather because of religious sentiments,? says Amir Ali Zaffer. But Zaffer does have a battle to fight. ?The influx of cheap Chinese leather accessories has affected the market to some extent.? Cheemo too is inching further from the affordable luxury tag. The most expensive bag in their line now is a clutch made with Swarovski crystals. Rs 20,000 only! Now. isn?t that a hint enough?
