Professor Arindam Chaudhuri saysNo doubt that fashion is a sunrise sector, but so far, the over-the-top glam quotient has only managed to leave behind glum faces in its wake. Glitzy models sashaying down the ramp with their tattooed bodies and skinny mannequins draped in sequined crêpe in store windows require huge investments. But Indian designers lack the corporate backing in terms of big sponsorships and licensing deals for that. Mumbai-based designer Rocky S attempts to explain why corporates shy away from Indian fashion houses. “If someone is investing in your business, he/she has full liability to know what exactly is happening with the money. We are still in a nascent stage to maintain such transparency,” he professes. Rocky adds that sighting the potential of corporate funding, many design houses are now starting to become more organised. “Some of us have now even begun to pay attention to financial audits,” he claims. On cue, corporate funding has also begun to happen in a small way. Textile house Raymond’s has launched a designer wear retail chain called ‘Be’ with Rohit Bal, Anshu Arora and others. Moreover, the inimitable Ritu Kumar has been designing wardrobes for all Miss India participants in international beauty pageants since 1994, with some winning awards for the most outstanding evening gown!
Is that enough for India Fashion Week (or Delhi Fashion Week) to become the fashion ‘Mecca’ of the world and steal the show from Milan which alone contributes 10% to the world’s fashion market? Market watchers do not seem to think so. Especially with the present unstructured and unorganised nature of the industry, they feel that the projected 2012 is too short a time for India to become the world’s fashion capital. Fact is, they say, that India’s designer fraternity is still wary of corporate alliances and hesitates in seeking expert financial advice. Key posts within any fashion house are still occupied by close friends and family members. “Compared to the foreign market, we have still not been able to create a very structured and organised market in India for designer wear. Designers like Tarun Tahiliani and Satya Paul have started focusing on the local market with their retail stores, but we are still lagging behind from the retail perspective,” admits Sumeet Nair, Managing Director of Fashion Foundation of India.
Acquiring professional management teams is therefore fast becoming a priority for Indian designers who want to match the standards set by their global peers. The beautiful Ritu Beri for one has already begun corporatising her set-up. Her team today boasts of separate vice presidents for sales, purchase, quality and finance; an art she perhaps learnt during her year’s stint (in 2002) as head of French fashion house Scherrer’s ready-to-wear line. On the other hand, designers like Satya Paul – who have already tasted success in India’s premium mass-market, are roping in Genesis Colors Pvt. Ltd. to handle financial and logistics related issues.
Despite the baby-steps being taken by India’s fashion fraternity to professionalise their operations, too many one-man-shows, glamorous PR plugs and Page 3 pictures abound. Sure, the talent is there and the creativity simply wows. But to make for a globally acclaimed brand and financially sound sustainable business, the trickle of corporate influence on India’s fashion design glitterati must turn at least into a tide (if not a flood) for any indelible prints to be left on the industry. Who knows, Kate Winslet may yet wear a Ritu Beri to the Oscar night!
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