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<ul><li>On Business Insider’s Global Trends Festival, Fashion Designer <keyword id="8264" type="COMPANY" weightage="20" keywordseo="Sabyasachi">Sabyasachi</keyword> spoke about the future of fashion, how brands can help Indians feel proud of their culture, and what luxury means in India. </li><li>He also shared why consumers continue to buy expensive clothes from a luxury brand in a price-sensitive market like India. </li></ul>Over the years, Sabyasachi has built a brand that is truly Indian at heart and global at scale. Women who do dream of getting married often aspire to be a ‘Sabyasachi bride,’ a term coined by this legendary designer’s fans. Sabya, as he is popularly known, bootstrapped his business with a small capital of Rs 12,000, which was borrowed from his sister and today, his company has an annual turnover of $11 million. His journey is a testament to the fact that successful businesses are built on the pillars of perseverance and perspective. He was quick to realise that money isn't the only important thing when it comes to building a successful brand. Sabya shared, “Gone are the days when you could create a luxury brand just by the virtue of money. If that would have been the case, I would not have been a successful businessman at all because I started my own business with a capital of Rs 12,000. What I realised very early on was that to build a successful luxurious brand, you need to have a little bit of a cultural stand and a unique voice. At the end of the day, people need to look up to you.” Sabya climbed his way to the top on his own. He fought with his father, who wanted to see him become an engineer, to join National Institute of Fashion Technology (NIFT). His father also denied to fund his studies, so he sold his books to buy an application form for NIFT and got in. It was his determination and passion for fashion and craftsmanship that pushed him to do better and pull all-nighters. It was also this outsider perspective that helped Sabya envision a brand that offered both luxury and dignity. He said, “At one point in Kolkata, I saw a lot of luxury, exuberance and lavishness, and I also saw poverty and restraint. But what they both had in common was dignity. One of the reasons why I have been able to build a luxury brand is because I am detached. I look at luxury from an outsider perspective. For me, luxury is everything to do with refinement, restraint, dignity and value. So, to build a brand that is successful, it is important to have perspective.” Sabya turned the tide in his favour and built a niche, luxurious brand in a hyper-price-sensitive market. But what does luxury really mean to Sabya? “Luxury cannot be created from the point of subjugation. It needs to be created from a point of cultural relevance. In fashion, the ability to express yourself and to stand for who you are, is the definition of luxury,” answered Sabya. Bringing pride back for Indian culture Indian fashion practices, which have traditionally been influenced by cultural habits, have witnessed a gradual transition and have begun to align themselves to global trends. With this, Indians have adapted both, the colonial language and the fashion sense. Traditional wear is often remembered for festivals and celebratory occasions. So, with brand Sabyasachi, Sabya’s aim was also to instil national pride in our culture and its roots. Explaining why luxury is a reflection of one’s cultural identity, he said, “When I started my business in India, I realised that a lot of Indians were not proud of their cultural heritage. We had been colonised for a very long time and there was a colonial hangover that was expressed in Indian clothes. So, luxury is about self expression, comfort and about coming home to who you really are. In fashion, luxury is about your cultural identity, which is best expressed in India through exquisite craftsmanship.” Sabya, who is also surprisingly slightly colour-blind, is known for his perfection. He is seen as a businessman whose focus is on customers. Everytime he works on a collection, he trusts his intuition. Before the final draft reaches the edit table, he sits with an editing scissor and asks himself, “Why is it that the customer will buy this product?” The final draft is sent to the edit table once he feels confident about his design and has trust in its uniqueness. “I have always been guided by the two principles that the Indian customers are looking for: a sense of longevity and investment in products which can be very transient. With COVID, this sense has amplified because people want to buy things that are luxurious but they want the option to use it everyday,” said Sabya. Sabya also keeps the environment in mind while working on his products and wants to put a pause on fast-fashion trends. “At Sabyasachi, we do the exact opposite of fast fashion. We do the same kind of clothes over and over again because I want people to buy things that are timeless and give them a certain sense of identity. Similarly, when I do ready-to-wear, I would actually do classic products that people can use again and again. You see the harms of fast fashion because everything goes into landfills. Today you have to be conscious about how your business is creating carbon footprints and I would never do any kind of business that could harm the planet. I’d like to create a product that people have a relationship with. I would not want to create a product that they would discard seasonally, that’s not in my DNA.” However, Sabyasachi is an expensive brand that not everyone can afford. Sabya was once asked by Bollywood Actor Boman Irani in a television show if his ‘brand has customers or just fans’. But Sabya believes that its quality and value supersedes its expense. He said, “Why is it that the customer comes back to you again and again? It is because expense and value are two different parameters. As a customer, when I buy something I don’t look at the price, I look at the value the product offers. I want my customers to feel the same way. I want to offer them the best thing, irrespective of the price and I don’t want them to feel cheated that they have paid more than the value being offered.” If Indian consumers do want value products, why aren’t there many brands in the luxury landscape? Explaining the reason behind this gap, Sabya said, “The reason why India doesn’t have too many luxury brands is because everybody gets too corporatised. When you are working as a corporate, you are just doing a job. When you own a business, it is your little child and you want it to grow and do better everyday. For those who want to build a luxury brand, everyday is a battle -- not with anyone else but yourself -- you lead through inspired leadership and you just want to strive to make things better. What is perfect for everyone else might be imperfect for you and you have to be open-minded and need that humility to make something wonderful, better." Brands of the future Post COVID, Sabya thinks that the world needs to celebrate exuberance a lot more because our time in this world is finite. So, as customers become more cautious about where they put their money, brands need to offer an authentic experience and beautiful story-telling. And while they are at it, brands that help community as well, will become the brands of the future.

Here's Sabyasachi's journey of starting a brand with Rs 12,000 to becoming every Indian bride's dream

New Delhi, Jan 27 (IANSlife) One of the most influential labels, if not the reigning brand in Indian fashion, <keyword id="8264" type="COMPANY" weightage="20" keywordseo="Sabyasachi">Sabyasachi</keyword>, enters into a strategic partnership with <keyword id="2834772" type="COMPANY" weightage="20" keywordseo="Aditya-Birla-Fashion">Aditya Birla Fashion</keyword> and Retail Limited (ABFRL) by which <keyword id="967" type="PERSON" weightage="20" keywordseo="Aditya">Aditya</keyword> <keyword id="39439" type="COMPANY" weightage="20" keywordseo="birla">Birla</keyword> Fashion has acquired 51 percent stake in the brand for an undisclosed amount. The namesake label of designer Sabyasachi Mukherjee has been a leading retailer and couturier in Indian fashion since 1999 with a strong presence across the country and internationally. From humble beginnings in Kolkata, designer Sabyasachi Mukherjee has grown his brand from strength to strength, being the proud owner of what can only be called as India's first '<keyword id="2488478" type="COMPANY" weightage="20" keywordseo="Luxury-fashion">Luxury Fashion</keyword> House' in the real sense of the term. On Wednesday, 27th January, ABFRL announced that its platform will complement brand Sabyasachi on its journey to becoming a global luxury house out of India. This aim is to build a large ethnic wear business over next few years to complement its strong and diverse portfolio in western wear segment of the Indian apparel market. ABFRL is part of a leading Indian conglomerate, The <keyword id="44373" type="COMPANY" weightage="20" keywordseo="Aditya-Birla-Group">Aditya Birla Group</keyword>, with a revenue of Rs. 8,788 Cr in FY19-20, it is India's first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats. CEO and Founder of Sabyasachi Brand, Mr. Sabyasachi Mukherjee, said: "Over the course of the last couple of years, as my brand evolved and matured, I began searching for the right partner in order to ensure continuity and long-term sustainable growth. I am honoured and excited to have found that partner in Mr. Kumar Mangalam Birla and ABFRL. Aligned in our vision, and committed to excellence, we will work together to grow a truly global luxury brand out of India." Sabysachi Mukhrjee has always been ahead of the curve, and from the very beginning has strived to create a brand which in addition to the creative side of fashion, focused on the business of fashion. Sabyasachi has emerged as one of the most influential cultural voices in the country  shaping modern fashion and lifestyle while celebrating artisanal craftsmanship and traditional techniques in each and every product. The brand straddles categories such as apparel, accessories and jewelry and has a strong franchise in India, US, UK and the Middle East. Today, with solid footing in the domestic retail landscape, several major global collaborations, and international flagships opening soon, Sabyasachi continues steadfastly on its path to becoming the first voice of global luxury out of India. Commenting on the partnership with the ace designer, Ashish Dikshit, Managing Director, ABFRL adds: "We believe that over the next few years, ethnic wear is going to be an increasingly important category as young and confident Indrediscover their culture and heritage. The Sabyasachi brand, through its emphasis on excellence in design and craftsmanship has set new benchmarks and captivated the imagination of the sophisticated global Indian consumer. We are proud to partner Sabyasachi in its journey to become the only global luxury brand from India. We see a 'Made in India' global brand like Sabyasachi occupying the pinnacle of our ethnic wear portfolio. Over the next few years, ABFRL intends to craft a portfolio that addresses the entire gamut of ethnic wear segments: value, premium and luxury." The proposed acquisition is subject to necessary statutory approvals and signing of definitive agreements. One can only wait and watch this unique story of Indian excellence unfold in the months to come.

Sabyasachi sells 51% stake to Aditya Birla Fashion

<keyword id="1553175" type="General" weightage="20" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword>'s financial stress underlined by mounting losses and rising debt is likely to impact its financial lenders and have a bearing on employees and subscribers, <keyword id="6354972" type="General" weightage="20" keywordseo="icra" source="Orion">ICRA</keyword> said on Monday highlighting that government support is "critical" at this point. The support can be by way of deferment of spectrum dues, cut in levies, reduction in interest rates, and a combination of relief measures could aid financial profile and the structure of the industry. "Vodafone Idea has been under financial stress as reflected by mounting losses and burgeoning debt levels, which is likely to impact its financial lenders as well as Government, apart from having a bearing on its employees, its subscribers and associated industries, most prominently towers," ICRA said in a statement. In the event of <keyword id="634808" type="General" weightage="20" keywordseo="vil" source="Orion">VIL</keyword> exit, the tower industry may be confronted with vacation of around 180,000 tenancies that the telco currently occupies. Of these, only 40-50 per cent of the tenancies are expected to be regained by the tower companies over 18-24 months. "The telecom industry had been facing headwinds since the launch of services by Reliance Jio Infocomm (RJIL) which manifested into decline in revenue and profit generation," ICRA said noting that Adjusted Gross Revenue (AGR) dues had added to the industry's woes. Given the precarious position of the VIL balancesheet, material external support (primarily government) "might be necessary", it said. The support could be in the form of deferment of spectrum dues, reduction in levies, reduction in interest rates, suggested ICRA. Sabyasachi Majumdar, Group Head and Senior Vice President, ICRA, observed that as VIL owes Rs 23,400 crore to lenders and Rs 1,68,190 crore to government towards spectrum and AGR deferred dues as on June 30, 2021. "Over the last 12 quarters starting Q2FY2019, VIL has been reporting sizeable losses. Further, with the addition of AGR liabilities, the debt has burgeoned to more than Rs 2 lakh crore as on June 30, 2021 (including lease liabilities)," Majumdar said. This, along with churn in the subscriber base, mostly stagnant 4G user base, and pressure on ARPU levels have kept the revenue and profit generation muted, Majumdar pointed out. According to Ankit Jain, Sector Head and Assistant Vice President, ICRA, the most effective relief can come in the form of extension of moratorium on spectrum dues beyond FY2022, a move that could result in deferment of dues payable in FY2023 to the tune of Rs 32,000 crore for the industry, of which Rs 16,000 crore are VIL's. "Moreover, reduction in the levies paid by telcos, namely license fee and spectrum usage charges can also lift the <keyword id="63060" type="General" weightage="20" keywordseo="ebitda" source="Orion">EBITDA</keyword>. A one per cent reduction in levies leads to annual saving of Rs 1,600 crore for the industry," Jain estimated. Besides, measures such as reduction in interest rates on telecom department's dues, increasing spectrum allotment tenure and introduction of floor tariffs can also further aid the industry. ICRA estimates that Re 1 increase in ARPU (Average Revenue Per User) translates into Rs 450-500 crore EBITDA accretion for the industry. A combination of these relief measures could aid the financial profile and the structure of the industry, Jain said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/real-estate-company-stocks-become-multibaggers-while-analysts-see-further-strong-upside/articleshow/85976693.cms">Sobha, Mahindra Lifespace become multibaggers in 2021 as analysts see strong upside in realty space</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/jiophone-next-is-the-new-weapon-in-ambanis-arsenal-as-he-takes-aim-at-the-500-million-subscriber-mark/articleshow/85974565.cms">JioPhone Next is the new weapon in Ambani’s arsenal as he takes aim at the 500 million subscriber mark</a>

Vodafone Idea's stressed balance sheet could impact lenders, employees and subscribers, says ICRA

<ul><li>The video of Welspun India’s CEO Dipali Goenka dancing with her colleagues, to the tune of Muqabla song from the Street Dancer 3D, has gone viral on the internet </li><li>The 50-year old Joint Managing Director and CEO of the ₹4,500-crore (over $600 million) Welspun India. </li><li>This is just one party on the road to the targeted $2 billion in revenue by 2022</li></ul>The video of Welspun India’s CEO Dipali Goenka dancing with her colleagues, to the tune of Muqabla song from the Street Dancer 3D, has gone viral on the internet. Many industry leaders,<a href="https://twitter.com/Varun_dvn/status/1230035375734784001"> bollywood actors</a> and politicians applauded the 45-sec video giving a glimpse at a ‘happy workplace’. But the 50-year old Joint Managing Director and CEO of the ₹4,500-crore (over $600 million) Welspun India has a lot more to her credit than a viral video. 
	
	<div type="twitter" handle="hvgoenka" handlename="Harsh Goenka" image="http://pbs.twimg.com/profile_images/1100471315016732672/VQXLpkHZ_normal.jpg" favoritecount="13586" retweetcount="2226" status="Rare to see a CEO dance and have fun in an office setting. That’s the way to create a happy culture @DipaliGoenka… https://t.co/DHDlNz8Gy9" createdat="1582045195000" id="1229812801889357824"></div>





 The reason for the celebration: Welspun India, which makes towels, bathrobes, and bedsheet, registered a whopping 55% growth in net profit for the third quarter ending on December 31, 2019, sparking hopes of a turnaround amidst gloomy prospects for the entire sector. This is just one party on the road to the targeted $2 billion in revenue by 2022. Goenka had a tough start as the boss 
 
 <div type="image" title="BCBE8AC1-8420-48A1-A8D7-E84E24DD23EC" msid="74211911" hostid="261"></div> Goenka was a homemaker, and the wife of <keyword id="949657" type="PERSON" weightage="20" keywordseo="Balkrishan-Goenka">Balkrishan Goenka</keyword> (the Chairman of the <keyword id="157753" type="COMPANY" weightage="20" keywordseo="Welspun-Group">Welspun Group</keyword>) until she decided to become an executive back in 2002. She became an entrepreneur with a new business line, Spaces, a brand that targets premium for towels and bedsheets at a domestic level. Nine years ago, in 2011, Goenka shook the textile industry in India when she took charge of the company. Some industry leaders thought the “Welspun has lost its mind” <a href="https://www.thehindubusinessline.com/business-wire/forbes-ranks-dipali-goenka-as-the-16th-most-powerful-businesswoman-in-asia/article8446854.ece">reported Forbes</a>. ‘Is she here because she is a part of the management?” <a href="https://wow.outlookbusiness.com/dipali-goenka/">Goenka told the media</a>. Two years later, she became the joint managing director in 2013. A few years into the business, Goenka proved the skeptics wrong. Welspun India’s annual revenue was nearly ₹5,500 crore last year. In fact, a look at the stock price of Welspun India shows that the real wealth generation for investors happened only after she took over. 
 
 <div type="image" title="welspun india share price" msid="74211828" hostid="261"></div>





Source: Google Finance Now, the company expects the WelHome and Spaces brands to touch ₹3,500 crore, according to an Edelweiss report, by next year whereas the current market value of entire Welspun India is just ₹4,500 crore. What makes her achievement special is that she has managed to grow the company at a time when the textile industry has been struggling to survive. Particularly, the textile exporters from India have been losing out <a href="https://scroll.in/article/810671/three-charts-show-how-indian-textile-industry-lost-the-race-to-bangladesh-and-vietnam">cheaper competition from Bangladesh and Vietnam</a>. The early setback Sexism was not the only challenge for Goenka. One of the biggest setbacks for the group was in 2016, when Target Corp, second largest value retailer in the US, informed their customers that Welspun India sold them substandard bedsheets. 
 
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 At the time, Target gave about 10% of Welspun India’s billion-dollar revenue every year. Their market cap took a steep fall of 54% — from ₹103.34 billion to ₹46.97 billion between August 19, 2016 and August 30, 2016. Goenka <a href="https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/how-welspun-india-is-emerging-from-a-crisis-that-rocked-its-credibility/articleshow/69706022.cms">took responsibility and met all her customers </a>including JCPenney, Costco, <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> in the US to Sainsbury in Europe. In 2017-18, the company’s gross sales fell by 9%. But the company seems to have recovered from that now. It was ranked as the <a href="http://outlookindia.com/outlookmoney/investment/the-weaver-welspun-india-2122">top home textile suppliers in the US in 2017 </a>and has a distribution network in over 32 countries including US, UK, Europe, Canada and Australia. The good fight Goenka has not only chased her corporate aspirations, she has also strongly backed gender equality. “The biggest change is that the percentage of women has gone up from 7% to 23% in our workforce. IQ is not the only thing that will take an organisation forward. It is also the EQ. And that’s the balance women bring,” Goenka<a href="https://wow.outlookbusiness.com/dipali-goenka/"> told Outlook Business. </a> While prodding other billionaire-owners of big businesses like <keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword>, <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword> and <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword> to make their workplace more fun, Goenka has also become the face of a changing corporate culture in India. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/article/escorts-share-price-and-inside-story-of-how-market-value-nearly-doubled-in-a-new-book/articleshow/73763872.cms">The inside story of how Escorts turned around to become a nearly ₹10,000-crore company</a> <a href="https://www.businessinsider.in/business/corporates/news/profit-margin-on-jockey-and-speedo-shrinks-shows-page-industries-q3-earnings/articleshow/74119148.cms">Biting slowdown is squeezing Page Industries' profit margin on Jockey and Speedo</a> <a href="https://www.businessinsider.in/business/startups/news/manish-malhotra-ritu-kumar-sabyasachi-and-other-top-designer-clothes-are-available-for-rent-thanks-to-this-indian-startup/articleshow/72326885.cms">Manish Malhotra, Ritu Kumar, Sabyasachi and other top designer clothes are available for rent thanks to this Indian startup</a> <a href="https://www.businessinsider.in/business/news/everybody-needs-a-haircut-says-celebrity-stylist-jawed-habib-who-does-not-fear-the-effect-of-a-slowdown/articleshow/74132791.cms">Star hair stylist Jawed Habib reveals why $30 million franchise hasn't cut prices this slowdown</a>

Welspun CEO Dipali Goenka is more than a dancing CEO⁠— she’s a homemaker-turned-CEO engaged in the good fight

Content streaming giant Netflix has reported slow growth in its third quarter (July-September period) despite the social distancing times, admitting that it has much work to do in countries like India which are lagging behind in terms of growth for the company. Netflix said growth has slowed with 2.2 million paid subscribers in Q3 while the company added 6.8 million paid net adds in the same quarter last year. While the APAC region was the largest contributor to its paid membership growth (accounting for 46 per cent of all global paid net adds) as APAC revenue rose 66 per cent (year over year) especially in South Korea and Japan, Netflix has a lot of ground to cover in India. "We're working with local partners like Reliance Jio, India's largest mobile operator, where in Q3 we launched a bundle with their mobile and fiber broadband plans. As part of this broad partnership, we'll integrate Netflix with two of Jio's set top boxes," the company said in a letter to its shareholders on Tuesday. "We've also partnered with financial institutions in India to make payment processing easier and more seamless for our members, which we expect will have retention benefits," it added. Netflix said that its non-fiction series 'Indian Matchmaking' was watched by a quarter of its members in India and millions of members outside of India in its first four weeks. "We invest heavily into improving our product, partnerships and overall consumer experience. For example, in India in Q3, we localized our service to support Hindi in our user interface," the streaming platform said. "We strive to be a global entertainment service that can satisfy the needs of members all over the world. Commissioning and producing local language content is an important part of that". The company generated over 1.3 billion in net cash in Q3 2020. Free cash flow was positive for a third consecutive quarter at $1.1 billion. Admitting that the state of the pandemic and its impact continues to make projections very uncertain, Netflix said it expects growth to revert back to levels similar to pre-Covid in 2021. "With $8.4 billion in cash on our balance sheet at the end of the quarter plus our $750m credit facility (which is undrawn), our need for external financing is diminishing. As indicated last quarter, we don't have plans to access the capital markets this year," Netflix told shareholders. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/india-releases-chinese-soldier-who-strayed-across-the-contested-lac-border/articleshow/78782376.cms">India releases Chinese soldier who strayed across the contested LAC border</a> <a href="https://www.businessinsider.in/thelife/news/luxury-icons-sabyasachi-and-oberoi-open-up-about-their-perfectionist-quirks-like-checking-the-color-of-egg-yolks-and-slashing-clothes-so-they-cant-hit-the-edit-table/articleshow/78771113.cms">Luxury icons Sabyasachi and Oberoi open up about their 'perfectionist quirks' like checking the color of egg yolks and slashing clothes so they can’t hit the edit table</a> <a href="https://www.businessinsider.in/tech/enterprise/news/amazon-ai-executive-explains-three-things-every-business-needs-to-address-before-using-machine-learning/articleshow/78769249.cms">EXCLUSIVE: Amazon AI executive explains three things every business needs to address before using machine learning</a>

Netflix admits it needs to catch up in India — 'We're working with local partners like Reliance Jio'

<keyword id="3378227" type="General" weightage="20" keywordseo="aditya-birla-fashion-and-retail" source="Orion">Aditya Birla Fashion and Retail</keyword> Limited (ABFRL), India's leading fashion company, today announced a partnership with Christian Louboutin, one of the world's most famous <keyword id="19734234" type="General" weightage="20" keywordseo="shoe-designers" source="Orion">shoe designers</keyword> known for his high-end <keyword id="23820" type="General" weightage="20" keywordseo="footwear" source="Orion">footwear</keyword> and iconic soles. This joint venture envisages the transfer of the current Indian business into a newly incorporated subsidiary of ABFRL where the partners will hold equal stake. Founded in 1991 in the heart of Paris, Christian Louboutin is one of the leading names in global luxury, world famous for its signature red sole shoes. Christian Louboutin has successfully diversified its business into men's footwear, <keyword id="939668" type="General" weightage="20" keywordseo="leather-goods" source="Orion">leather goods</keyword> &amp; <keyword id="23964" type="General" weightage="20" keywordseo="accessories" source="Orion">accessories</keyword>, beauty and kids. Christian Louboutin has established its retail presence in over 30 countries. "We are excited to partner with ABFRL's team and look forward to working with them to manage and develop the business in India which is an extremely important market for us," commented Alexis Mourot, Christian Louboutin's Group CEO. Ashish Dikshit, Managing Director, Aditya Birla Fashion and Retail Limited commented, "We are thrilled to announce our strategic alliance with Christian Louboutin, a true icon in luxury footwear. This partnership reflects our commitment to offering our discerning customers the very best in elegance and style. It also exemplifies our ambition to develop and shape the future of the luxury market in India." "We are excited to welcome Christian Louboutin into the ABFRL family and building a strong platform for the brand in India. The brand's distinctive style and craftsmanship appeals to a discerning Indian audience that is growing rapidly," Sathyajit Radhakrishnan, CEO of International Business, Aditya Birla Fashion and Retail Limited. Christian Louboutin established his business in the heart of Paris in 1991, first with a collection for Women followed by a Men's collection a few years later, both recognizable by the signature red lacquered sole. 2014 welcomed Christian Louboutin Beaute, while in, 2022 the House launched new categories dedicated to Kids and Pets. With a prolific collection of shoes, leather goods and accessories, Christian Louboutin now counts more than 150 points of sales around the world. ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. With revenue of Rs. 12,418 Cr. spanning retail space of 10.8 million sq. ft. (as on March 31, 2023), it is India's first billion dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats. The Company has a network of 3,977 stores across approximately 33,535 multi-brand outlets with 6,723 point of sales in department stores across India (as on 31st March 2023). It has a repertoire of India's largest brands in Louis Philippe, Van Heusen, Allen Solly and Peter England, established over 25 years. Pantaloons is one of India's leading fashion retailer. The Company's international Brands portfolio includes - The Collective, Amongst India's largest multi-brand retailers of international brands and has long term exclusive partnerships with select brands such as Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok and Galeries Lafayette. Van Heusen Innerwear, Athleisure and Active wear is establishing itself as India's most innovative and fashionable brand. The Company's foray into branded ethnic wear business includes brands such as Jaypore, Tasva &amp; Marigold Lane. The company has strategic partnerships with Designers 'Shantnu &amp; Nikhil', 'Tarun Tahiliani', 'Sabyasachi' and 'House of Masaba'. In addition, to cater to the needs of digitally native consumers, ABFRL is building a portfolio of Digital-first brands under its technology led 'House of D2C Brands' venture TMRW. TMRW is on a path to building a portfolio of Digital First brands in partnership with founders of emerging brands in the E-Commerce market. With a focus on Fashion &amp; Lifestyle categories, TMRW is building a portfolio of the most loved consumer brands that tap into the significant growth potential in India and globally.

Christian Louboutin Announces a Joint Venture Partnership in India with Aditya Birla Fashion and Retail Limited

The big, fat, Indian wedding is the stuff of dreams.For Krishma Sood Bhojwani, this meant hosting a four-day-long celebration at the JW Marriott in Phuket, Thailand. The bride imported cheese wheels from Italy, sourced Iberico ham directly from Spain, and hired a photography team from Mumbai. She flew in <a href="https://www.wedmegood.com/blog/epic-phuket-wedding-with-head-turning-bridal-looks/">chefs</a> from India and Japan, and had cooks preparing fresh food across 24 dining stations.The wedding consisted of eight events spread across four days, all set against the backdrop of the oceanfront resort where lush jungle meets the province's coastline. The 120 guests, who flew in from around the world and wore black-tie attire and intricately embroidered lehengas, were treated to cocktail dinners by the beach and ballroom parties.Bhojwani had arranged for a floating altar and wore <a href="https://wedbook.in/real-weddings/thailand-destination-wedding-of-a-couple-who-postponed-their-wedding-thrice/">traditional outfits</a> that were made by luxury designers like Sabyasachi, whose <a href="https://www.azafashions.com/products/floral-embroidered-lehenga-set/222913?utm_country=sg&amp;wpsrc=Google%20AdWords&amp;wpscid=&amp;wpsnetn=x&amp;wpkwn=&amp;wpkmatch=&amp;wpcrid=&amp;wpcid=17961464551&amp;wpkwid=&amp;wpscn=&amp;utm_term=&amp;utm_source=google-pmax&amp;utm_medium=cpc&amp;utm_campaign=SGD-ACQ-GOOGLE-PMAX-ALL-MCV-12August2022&amp;gclid=Cj0KCQjwmouZBhDSARIsALYcouoPDwycaxZa2Np04dLTMyBf5DqDEeZg9yHbJ1QgQ70oSm4Cs6s5uEIaAlgrEALw_wcB">designs</a> can go for $30,000 a piece.As for the cost? Around $400,000 for the wedding events alone, Bhojwani estimates — and that doesn't account for the couple's jewelry and outfits. "I did have a strict budget — money doesn't grow on a tree. We were sharp on cost and didn't spend a dollar over what I said we would," Bhojwani, who's from Australia, told Insider.<div type="image" title="Krishma Sood Bhojwani's wedding." height="3555" width="4740" msid="94268295" hostid="261"></div>In India, the wedding industry is <a href="https://www.businessinsider.in/business/news/indias-50-billion-wedding-industry-is-gearing-up-for-a-busy-winter/articleshow/78163437.cms">worth</a> a whopping $50 billion, and it's not uncommon for wealthy families to spend astronomical amounts of money on weddings. In 2018, billionaire tycoon Mukesh Ambani <a href="https://www.bloomberg.com/news/articles/2018-12-10/real-crazy-rich-asian-wedding-is-said-to-cost-100-million?leadSource=uverify%20wall">spent</a> a reported $100 million on his daughter's wedding, with guests like Beyonce, Shah Rukh Khan, and Hillary Clinton in attendance.But even for the just ordinarily wealthy, weddings can ring up serious price tags: Indian families are known to <a href="https://www.reuters.com/world/asia-pacific/thailand-looks-indian-weddings-boost-tourism-revenue-2022-08-31/">spend</a> as much as $800,000 on destination weddings at five-star hotels and resorts across Southeast Asia. Traditionally, the bride's family would bear the wedding costs, but that's now considered an <a href="https://qz.com/2130328/how-hindu-weddings-became-indias-cultural-export/">outdated practice</a> — many families, including Bhojwani and her husband's, choose to share the expenses. As Bhojwani put it, Indian couples typically have a "huge amount of parental support" in financing the costs of their wedding.<div type="image" title="Krishma Sood Bhojwani's wedding." height="4023" width="5365" msid="94268298" hostid="261"></div>Now, as luxury resorts across Southeast Asia emerge from the pandemic, many of them are competing for these lucrative Indian weddings. Many of these establishments are still reeling from the financial impact of the pandemic, and they're sparing no effort to attract the business of wealthy Indian couples to make up for the deficits. After all, that big Indian wedding may just be the tipping factor between ending the year in red or black. <h2>The big business of big Indian weddings</h2>One reason high-end Indian weddings can be so expensive is because they're often not single-day events — Sikh wedding ceremonies, for example, are held over several days, said Vin Ramash, a wedding planner with Singapore-based wedding and events company Alangkaar. <div type="image" title="Krishma Sood Bhojwani's wedding in Phuket." height="4023" width="5365" msid="94268301" hostid="261"></div>"At the higher end, Punjabi weddings start at $100,000 per day, so spending $500,000 is possible," Ramash told Insider, explaining that this is typical of weddings held at premium hotels like Capella, St. Regis, or Ritz-Carlton.But the bells, whistles, and whims of the couple also contribute to the hefty price tag.Hand-made mandaps, or altars, and custom-designed decorations can cost around $40,000, Ramash said — and additional requests like fireworks can cost even more.And then there's the travel element. As destination weddings become more popular among high-net worth Indian couples, many couples are looking to Thailand. Ramash said Alangkaar's tourism partner in the country anticipates 400 to 500 "large-sale Indian weddings" in 2023 alone.<div type="image" title="Krishma Sood Bhojwani's wedding." height="3580" width="4773" msid="94268303" hostid="261"></div>"Couples love destination weddings in Thailand because of the value you get for every dollar you spend. People want an experience — it's not just about status," Ramash, who plans weddings in Singapore, Bali, and Phuket, added. Bhojwani and her husband had initially planned to host their wedding at the Intercontinental Hotel in Phu Quoc, Vietnam. After lockdowns, travel restrictions, and four postponements, they finally decided to host their wedding in Thailand.Vendors and planners in Phu Quoc failed to understand what they wanted for their wedding "no matter how hard we negotiated," Bhojwani said. The planners and venue in Thailand, meanwhile, "understood the vision, the scale, the grandeur, and experience" she and her husband were looking for.<div type="image" title="Krishma Sood Bhojwani's wedding." height="3881" width="5174" msid="94268305" hostid="261"></div><h2>Tourism boards and luxury hotels are fighting for weddings</h2>Given the pent-up demand, and in an effort to get back to pre-pandemic business levels, tourism boards and luxury hotels are prioritizing marketing campaigns that target the ultra-luxe destination Indian wedding segment. That means that destinations like Thailand, Indonesia, Vietnam, and the Maldives are often vying for the same big-budget weddings.Resorts are leaving no stone unturned in their efforts to become the destination of choice. Hotels are catering to all sorts of demands from the wedding parties, including making special arrangements for religious rituals like providing a Hindu priest to solemnize the wedding. In some instances, they've even offered to rebook guests at sister venues if a bigger wedding party wants to book out the entire property. Tourism boards are getting in on it, too.For Thailand, wedding revenue is embedded into the tourism revenue for the year. Thailand expects a 600 billion to 700 billion baht, or $16 to 19 million, boost to tourism revenues this year from luxury weddings and honeymooners, Reuters <a href="https://www.reuters.com/world/asia-pacific/thailand-looks-indian-weddings-boost-tourism-revenue-2022-08-31/">reported</a>, citing a senior tourism official. Indian tourists are the "priority" this year, Tanes Petsuwan, the deputy governor of Thailand's tourism authority, <a href="https://asia.nikkei.com/Business/Travel-Leisure/Thai-tourism-eyes-Indian-weddings-as-Chinese-spending-dries-up">told</a> Nikkei Asia.<div type="image" title="Krishma Sood Bhojwani's wedding." height="2250" width="3000" msid="94268475" hostid="261"></div>Other tourism boards, like Indonesia's, are also on the prowl to woo these glitzy-eyed couples. These exclusive weddings can cost anywhere from $200,000 to $500,000, Sanjay Sondhi, the CEO of Om Tourism and the head of Indonesia's tourism board for India, told Insider. Indonesia tourism board officials often collaborate with the biggest wedding planners in countries like India, and in some instances are even present when resorts are pitching to the prospective brides and grooms. The fruits of this labor can be sweet. For one high-profile wedding slated to be held in the tropical island of Bali, talks are now revolving around a chartered flight for around 250 guests, Sondhi said. The couple was previously mulling a destination wedding in Thailand. <h2>Hotels lay out the red carpet</h2>With the main Indian wedding season, which runs from October to December, just around the corner, hotels are seeing a pick-up in inquiries.Demand for Six Senses properties across Southeast Asia for Indian destination weddings has been on the rise, with Six Senses Uluwatu in Bali being the absolute "favorite," Agnes Poon, the director of sales and marketing for Six Senses in Asia, told Insider. In August, the five-star resort held the wedding for a high-end family based in South India, Poon said. And in late 2021, the hotel chain <a href="https://www.indiatoday.in/movies/celebrities/story/vicky-kaushal-katrina-kaif-s-wedding-suites-in-six-senses-resort-costs-rs-7-lakh-per-night-exclusive-1882458-2021-11-30">hosted</a> the wedding of Bollywood stars Katrina Kaif and Vicky Kaushal. The wedding took place at the chain's flagship property in India, Six Senses Fort Barwara.Poon said queries are coming in for minimums of 200-250 rooms at the resort, which rests on the famed limestone cliffs of Uluwatu and opens up to sweeping views of the Indian Ocean.To be sure, it's not just Indian weddings that are big business. The global wedding services industry generated $160.5 billion revenues in 2020 and is expected to generate revenues of $414.2 billion in 2030, per an Allied Market Research <a href="https://www.alliedmarketresearch.com/wedding-services-market-A15864">report</a>.Luxury hotel Capella Singapore has weddings scheduled for every weekend of the year, Victoria Lim, a content marketing specialist at Capella Hotel group, told Insider. Demand for venues is topping pre-pandemic levels — but the type of demand is also diversifying. Capella is seeing an increase in small and intimate solemnization, especially for couples who put their weddings on pause due to the pandemic, Lim said. <div type="image" title="Krishma Sood Bhojwani's wedding." height="3843" width="5124" msid="94268478" hostid="261"></div>But for many of those taking the traditional big Indian wedding route, it's worth it to dish out — even if they had to change their plans multiple times along the way."I've always dreamed of having a beautiful wedding," Bhojwani said of her April wedding. "It was really hard, it was delayed for three years but we got there in the end. It's definitely worth it."

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