Intersection of tradition & modernity in Indian luxury fashion

Submitted to Prof. Amit Karna, Prof. Anchal Jain

Submitted by: Satya Dash, Sanya Nikita Kachhap

The report commences with an overview of the prevailing macroeconomic patterns and defines while classifying luxury fashion into different categories based on price, perception, etc. It aims to differentiate how luxury fashion is perceived in India compared to global perspectives. Following this, the report delves into an analysis of both traditional and contemporary elements that characterize Indian fashion, and how the luxury fashion industry if evolving in the Indian context. The highlight of the report is the Aesthetic-Ontological Framework, a novel method we employ to segment the luxury consumer market, is central to our analysis. Using this paradigm, we classified customers according to how well they know fashion & luxury—from novices to connoisseurs —and whether they believe it to be transient or enduring. The final segments are- the New Aristocrats, Heritage Keepers, Trend Chasers, and Artisan Advocates. The classification is based on the understanding of the various viewpoints and values of luxury among Indian consumers. We have then mapped various luxury brands, both Indian and international, to the customer perceptions and segments identified. This mapping utilized Kapferer’s Brand Identity Prism as a guiding tool. By mapping luxury fashion brands onto this matrix, businesses can better understand and target their marketing and product strategies to meet the distinct preferences and values of different consumer segments within the dynamic Indian luxury fashion market. Keeping this matrix as our basis, we created a set of comprehensive customer personas. These personas are characterized by their age, occupation, income level, lifestyle, purchasing habits, and fashion tastes. Examples of these personas are tech-savvy young professionals, wellknown social media figures, and proponents of sustainable fashion. We hope to give a clear picture of the target market through these personalities, along with insightful information for high-end fashion brands wishing to enter or grow in the Indian market.