Recession Faux Pas

The world is in recession, people are loosing their jobs, the fresh graduates are finding huge difficulties in finding appropriate jobs, even if they get into a right place there are huge tendencies of lesser pay packs. But is it that all the industries are facing similar problems? There are some amazing facts that may leave you in a vertiginous motion and that is, is all about haute couture, bling, and flamboyance.  Yea! Yea! You have guessed it right its all about fashion and lifestyle and art and literature. So congratulation to the entire world esthete’s… hey! Stop that contemptuous laughter. I said I have some amazing facts!

We have just wrapped up with the vivacious wills lifestyle fashion week following Lakme fashion week; and so did we wind up with the amazing International Herald Tribune conference. The fashion week was surely a success where all the designers tried their best to woo the audience with their best collection, leaving specially the girls with just an “aha!’ and “wow” in accord with paying enormously to the top of the top models for a 30 second ramp walk. The models included some of the top actors and actresses. As far as the audience is concerned they made sure that they were in confluence with the event and so everyone was doing it the designer’s way. From Birkin bags by Hermes to Fendi clutches, Hever Leger bandage dress to Diane von Frustenberg, from Giuseppe Zanotti to Christian Louboutin the whose who were all in urge of pontificating and prettying themselves up showing there chic ness. Now lets talk about the Herald Tribune conference in Delhi on 28th march holding biggest and best names in the world of fashion and luxury. 450 delegates from 35 different countries marked their presence. Huge epitomes and the glitterati of the fashion world like Roberto Cavalli were seen rubbing their shoulders with Indian designers like Manish Arora. Also editors of famous fashion magazines, great entrepreneurs lightened the event up. Have you still tried to figure out as to why they choose Delhi? When the editor of Herald Tribune asked the same question; Suzy Menkes the answer to this was “ 21st century belongs to India and Asia. India will be a flourishing market, the next fashion revolution will not be taking place in Europe or rest of the west, but it will be India.” Aha!!! I feel so good writing this, I’ll be among the first ones to splurge and dip into the pool of luxury brands. Coming to the point the conference was all about sustainable luxury and the growing avenues. The so-called epitomes of the fashion and luxury world said that recession is not bothering them much they are still enjoying good responsible profits. There were also some great designers stating that they are absolutely unaffected by recession as their collection is timeless.

Moving on form the conference to the latest buzz happening in the fashion world. Interestingly enough, the economic downturn isn’t putting a damper on the extreme shoe trend-or even extreme shoe spending. In early March, Christian Louboutin introduced a pair of $6,295 “Marie Antoinette” satin, beaded 6-inch stilettos. The 36 pairs that were initially made sold out, and the company has already received special orders. Giuseppe Zanotti for Balmain’s $2,050 crystal-studded stilettos were wait-listed worldwide before they even hit stores this spring, according to the company.

Craving to get my foot in them… I think I’m already going gaga head over heels for these!!

Allow me to talk about the latest of the car market; Nano launch is still okay but Porsche!!! The latest TOI on Saturday April 4th 2009 had an article dedicated stating the fact that Porsche is speeding up expansion plans in India. The very first line of the article was “the economic sentiments may not be encouraging but that is not stopping German sports carmaker Porsche to draw up expansion plans for India.” Ahh haaa!! Being a commerce student I know a company stars up with a profit motive, I agree there has to be a sense of social responsibility, but there has to be at least a viable market plus quite feasible reasons for Porsche to plan expansion. This itself is an indication that India is ready to splurge in luxury brands. The next fact Rod Wallace said, “India has a growing number of people who want to enjoy their success and are not shy of showing so buying a luxury car.”

Further Porsche, whose car costs between Rs50 lakhs to Rs1 crore, sold 168 units in 2008 in India and hopes to increase the number to 200 units this year.

21st century surely belongs to India. From great fashion shows to great conferences, from luxury cars to biggest of the shoes brands, big luxury brands from all over the world are coming to India to explore and looking at India as the most viable market. Now, I leave it to you to decide whether recession in India effecting this industry or is it just a recession faux pas for the lifestyle and fashion.

KRETYA