NEW DELHI — Doing business in India for fashion and luxury companies will take money — and time.
“Breaking into this market requires heavy investment and much patience,” said John Hooks, deputy managing director of Giorgio Armani SpA, speaking at the International Herald Tribune’s luxury conference, which ended here Thursday. “Since we are a luxury fashion group, we prefer freestanding spaces for the Giorgio Armani and Emporio Armani brands. These spaces are difficult to find here. In addition, foreign companies cannot own more than 51 percent of the company stake, so we need local partnership. That is why we opened our first boutique at the luxury New Delhi mall, Emporio, developed by our partners, the DLF Group.”
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"