Lakme Fashion Week and Wills Lifestyle India Fashion Week: Fission in Indian Fashion |
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"This (India Fashion Week) is an opportunity to gain global recognition. We have a lot of potential in the fashion sector. If exploited fully it can create a number of jobs and benefit all constituents of the Indian textiles, apparel and fashion industry." 1 - Y C Deveshwar, Chairman, Wills Lifestyle, in February 2006. "If we were paying x earlier for a three-year title sponsorship, we were being asked to pay 3x for a new agreement, which we found an unviable proposition." 2 - Anil Chopra, Vice President, Lakme Lever Ltd, in November 2005. Unfashionable Fracas
In November 2005, Lakme parted ways with Fashion Design Council of India (FDCI), the proprietor of the 'official'fashion event, owing to differences over the sponsorship fee and venue for the event. After a few anxious weeks, FDCI found in the ITC group a new title sponsor. The ITC-sponsored event was named 'Wills Lifestyle India Fashion Week'(WLIFW), after ITC's fashion retail brand (Refer Exhibit I for more information on Wills Lifestyle) and was organized in Delhi from April 5th to 9th, 2006.
Despite this, the Indian fashion market -both couture and prêt-a-porter - was hugely underdeveloped, as compared to the industry in France, Italy, the US and other industrialized countries. Several factors like the fragmented nature of the industry, lack of branding and marketing skills, etc, contributed to the lackluster state of affairs. However, as of 2006, concerted efforts were being made to corporatize Indian fashion and professionalize the business. Lakme Fashion Week and Wills Lifestyle India Fashion Week: Fission in Indian Fashion - Next Page>>
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1] "India Fashion Week to be sponsored by Wills Lifestyle," www.apunkachoice.com, February 16, 2006. |
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