NewsVoir
New Delhi [India], March 28: The Indo-French Chamber of Commerce and Industry (IFCCI), in partnership with Comite Colbert, recently hosted the second Luxury Symposium at the Taj Mahal Palace, Mumbai. This flagship IFCCI Luxury Committee event featured 40+ speakers from India, France, and the Middle East, including global figures like Alexis Mourot (CEO, Christian Louboutin) and Stephane Larher (MD, MEIA, Bvlgari). Building on the success of the 2023 inaugural edition, the symposium highlighted India's key role in the global luxury market and fostered Indo-French collaborations in luxury, craftsmanship, and heritage.
Iconic couturier and costume virtuoso Manish Malhotra, celebrating 35+ years in fashion and Indian cinema, commenced an inspiring keynote address. Reflecting on his journey from costume design to luxury ventures, Malhotra emphasized the importance of persistence, risk-taking, and innovation in the luxury sector. He also highlighted Dubai as a strategic market with its diverse, evolving clientele. "Fashion is not just about what you wear - it's about the stories you tell, the culture you carry, and the dreams you dare to pursue," he said.
Speaking at the event, H.E. Mr Thierry Mathou, Ambassador of France to India, remarked, "The flourishing partnership between France and India in the luxury sector exemplifies France and India's shared commitment to excellence, innovation, and cultural exchange. Together, our two countries are forging a future where French elegance and Indian artistry converge and redefine luxury, blending tradition with modernity, exclusivity with accessibility, and heritage with sustainability."
The French Ambassador also felicitated designer Sabyasachi Mukherjee on behalf of the Indo-French Chamber of Commerce & Industry (IFCCI) in recognition of 25 years of his extraordinary craftsmanship, unwavering passion and a visionary approach that has redefined Indian couture. Speaking on which Mr. Mukherjee said, "There's a lot that India does that nobody can ever do because a lot of what India does today is the result of hundreds and thousands of years of civilization and passing down craft knowledge that we call 'parampara.' You cannot take that away from this country."
The Symposium unveiled key highlights and industry updates, showcasing transformative insights and advancements shaping the luxury sector
* Benedicte Epinay, CEO of Comite Colbert, highlighted India's strategic advantages, noting its rise as the 4th largest beauty market and an increase in luxury purchases to EUR272 million in 2024, alongside a growing presence of Indian luxury consumers in France. She also expressed optimism about the India-EU Free Trade Agreement while emphasizing the need to address existing challenges
* Insightful Panel Discussions across 11 conversations, covered key topics as:
* evolution of media in India's luxury industry, challenges of overexposure in digital media, trust in media partnerships, and high-quality storytelling in luxury branding
* India's demographic advantage and its emerging role in the global luxury economy
* an economic outlook, projecting 9-10% annual growth in India's luxury market over the next five years, driven by consumption and wealth creation
* global evolution of Indian craftsmanship and design, its growing presence in international fairs, and integration of technology, ecology, gender, and tradition into luxury design
* cultural appropriation versus appreciation, fusion in modern luxury, sustainability of digital vs. print media, the potential revival of print, and innovative strategies for brand awareness
* Luxury in India evolving rapidly, driven by AI, digital transformation, shifting consumer aspirations, affluence, immersive experiences and global influences
Speaking on this edition, Ms. Srimoyi Bhattacharya, Founder, Peepul Advisory and Chairperson, IFCCI Luxury Committee said, "We are committed to building a strong voice for luxury in India and beyond. With this grand Symposium we have stepped up to foster growth and excellence in the luxury sector. Inspired by France's esteemed Comite Colbert, a benchmark for luxury excellence, we aim to adapt their best practices to India's unique context, elevating the luxury landscape and providing a platform for industry exchange and dialogue."
The IFCCI Luxury Symposium marked a significant milestone in shaping the future of Indo-French luxury partnerships. As India's luxury sector continues to evolve, the symposium acted as a crucial platform for fostering innovation, cross-border collaboration, and market penetration. The Committee is led by Ms. Payal Kanwar, Director General, Indo-French Chamber of Commerce & Industry(IFCCI), Chairperson, Ms. Srimoyi Bhattacharya, Founder - Peepul Advisory, and Vice-Chairpersons, Ms. Swagata Bottero, India Affairs and Strategy Director, Cartier and Mr. Anurag Tyagi, Country Manager, Christian Dior Couture India.
"As India's most active bilateral chamber, we are proud to build this exclusive and unique platform, under the IFCCI Luxury Committee which fosters industry advocacy, strategic dialogue, and Indo-French collaborations," said Ms. Payal S.Kanwar, Director General of Indo-French Chamber of Commerce & Industry(IFCCI).
The grand Symposium concluded with a cocktail reception hosted by the Chanakya School of Craft in Mumbai.
The Indo-French Chamber of Commerce and Industry (IFCCI) is one of the most vibrant chambers within the global network of French Chambers, known as CCI France International, encompassing 120 chambers spanning across 94 countries. IFCCI represents a dynamic business platform of over 750 member companies and a total network of more than 6,500 individual members. IFCCI has six offices in Mumbai (HQ), New Delhi, Bengaluru, Chennai, Pune and Hyderabad.
Founded in 1954 by Jean-Jacques Guerlain, the Comite Colbert is a leading representative of the French luxury goods industry, embracing a collective, forward-thinking vision of sustainability. The Comite Colbert today brings together 93 French luxury maisons, 17 cultural institutions, and 6 European luxury houses. Through its members, Comite Colbert encompasses more than 14 different sectors: crystal, leather, design and decoration, publishing, porcelain, gastronomy, music, haute couture and fashion, jewellery and watchmaking, and more. Comite Colbert passionately promotes and sustainably develops French savoir-faire and creations, infusing a new sense of wonder as its principle to drive establishments.
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