With Lakmé Fashion Week finishing up this week in Mumbai, all eyes are on India's fashion industry and reports that an Indian luxury house loosely based on LVMH (Louis Vuitton Moet Hennessy) are in the works have added to excitement.
According to a recent report in The Economic Times, private equity firm L Capital is in talks with leading Indian designers to create an Indian luxury house in the mould of Paris-based luxury goods company LVMH.
Designers linked to the project include Rohit Bal and Sabyasachi Mukherjee, who are both cited among the country's biggest creative talents.
'In time, the structure will attract other younger designers and L Capital will integrate them into the platform by taking majority stakes,' a source was quoted as saying by The Economic Times.
In the same way that LVMH handles top luxury brands such as Louis Vuitton, Bvlgari, Givenchy and Dior, an LVMH-type company in India should help the projection of Indian fashion on an international scale.
Looking good has always been an integral part of Indian culture, and since the launch of Lakmé Fashion Week in 1999, the country's clothing industry has gone from strength to strength -- for the 13th edition Mumbai welcomed some 86 designers from across the country to present their Winter/Festive 2012 collections.
A host of celebrities have also been putting Indian fashion on the map, with Lady Gaga championing milliner Little Shilpa and the likes of Nicki Minaj and Katy Perry sashaying the red carpet in Manish Arora.
At the recent Lakmé Fashion Week designers including Jatin Varma, Neeta Lulla and Krishna Mehta proved there's a lot more to get excited about -- embracing classic saris and tribal prints to update styles for a modern woman.
In a recent interview with Relaxnews leading designer Aki Narula cited Kallol Datta and Nimish Shah as two of his favorite rising creators and praised the range of designers the country has to offer.
'Each one has their own and different aesthetic and sense of creativity,' said Narula.
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