The panel discussion centered around whether India has come of age for luxury retail. Panelists included leaders from the luxury fashion, salon/spa, and technology industries. While luxury spending in India is growing, it remains smaller than other Asian markets like China. Panelists discussed how they have tailored luxury offerings to fit the Indian context, such as allowing customization and co-branding with other luxury brands. Consistency of high-quality service and products was emphasized as important for building trust with luxury customers in India. The panel also debated what defines luxury in the Indian market, with factors including design, style, price, and value. Leaders envisioned their brands expanding experientially both online and through stores over the next five

1. Panel: Has India come of age
for Luxury Retail?
5 – 6 February 2014
Renaissance Convention Center, Powai

2. Moderator: Anupam Yog,
Director – Marketing,
Virtuous Retail
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Panel from L-R:
Pradeep Hirani, Founder & CEO, Kimaya Fashion Pvt Ltd
Dharmendra Manwani, Founder & CEO, Jean-Claude Biguine Salon & Spa
Devita Saraf, CEO, VU Technologies

3. Opening Remarks: Luxury around the World
Moderator: Anupam Yog,
Director – Marketing, Virtuous Retail
Among the Asian Markets; Luxury in India is ½
the size of China, 1/4th the size of Japan and
only 2x as big as Singapore.
Main segments: Travel / Hotels;
Jewellery, Technology.

4. How does luxury fit into the Indian context?
Moderator: Anupam
Yog,
Director – Marketing,
Virtuous Retail
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Devita Saraf, CEO, VU
Technologies
The TV is one of the first signs of ‘affluence’.
We have build our own lounge stores to build
loyalty among customers
We allow people to customise their televisions in
terms of technology as well as aesthetics.
Tarun Tahiliani and Swarovski have collaborated
with us to build luxury televisions.
In order to bring our innovations to the fore, we
organise “trunk shows” across the country.
Co-branding with other luxury brands has helped us
enhance clientele.
We have made televisions in India more about the senses than about the science.

5. How is consistency of service maintained for a luxury service provider?
Moderator: Anupam
Yog,
Director – Marketing,
Virtuous Retail
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Dharmendra Manwani,
Founder & CEO,
Jean-Claude Biguine Salon & Spa
Luxury is not about price but value.
Building a luxury brand is about trust - the kind that
develops over time, and needs consistency of
product and experience.
Getting world-class services at a convenience of
price and time defines modern luxury.
The Luxury consumers in India are not necessarily
affluent but aspirational. They have global exposure
and understand the value of a branded product.

6. What defines luxury in Indian apparel industry?
Moderator: Anupam
Yog,
Director – Marketing,
Virtuous Retail
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Pradeep Hirani,
Founder & CEO,
Kimaya Fashion Pvt Ltd
The Indian woman is the most powerful
shopper. There was a need to cater to her
luxury demands vis-a-vis men’s fashion.
73% demand is from the women’s apparel
category.
Kimaya designs clothing for women in the $ 100
segment.
In the Indian apparel segment, luxury is about
design, style AND price.

7. What is the price v/s value concept within a luxury brand?
Moderator: Anupam
Yog,
Director – Marketing,
Virtuous Retail
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Dharmendra Manwani,
Founder & CEO,
Jean-Claude Biguine Salon & Spa
It is important to note that luxury brands all over the
world evolved from being sharply aligned with
consumers demands of that time.
These brands made extraordinary products
consistently and, hence, the demand grew
exponentially.
When the demand couldn’t be met, the price rose.
Hence, the relationship between luxury and price
hinges on value.

8. Where do you see your brand in 5 years?
Moderator: Anupam
Yog,
Director – Marketing,
Virtuous Retail
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Devita Saraf, CEO, VU
Technologies
We will become even more experiential.
Our brand values won’t change. Brands don’t change
drastically over 5 years. However, we expect the
consumer to become more quality and brand
conscious.
Hence, I hope to go online and establish a healthy
balance between cultivating e-commerce as well as
expanding my stores.
We would like to leverage the trend of customers
buying electronics on line – and move the customer
towards buying Luxury electronics online.

9. Panel: Has India come of age
for Luxury Retail?
5 – 6 February 2014
Renaissance Convention Center, Powai