Rentals are 10% of the sales of luxury brands globally, and we are able to achieve that in India by experimenting with location.
Sentiment: POSITIVE
India now has serious fashion consumers who do not think twice before splurging on an expensive luxury product.
India is still considered a preferred destination for many multinationals to manufacture cost-competitive high-technology products for domestic consumption as well as for global demand.
The combination of a brand like Cartier and the immense heritage that India holds can go places.
Indian hotels are doing well globally because they understand hospitality.
My view is make Indian manufacturing competitive, and if it is competitive, it can serve customers or consumers anywhere.
Even when it comes to zippers and buttons, Italy reigns supreme. The luxury market is ours, as demonstrated by the voracity with which various foreign conglomerates are buying up the jewels of our manufacturing sector.
In the luxury business, you have to build on heritage.
Prior to 2001, hardly any company in North America or Europe would buy from India.
When I went to India, I became absolutely obsessed with the idea of building a hotel in India. I've never done a hotel, and I'd love to do public spaces in that culture.
Forget luxury; as a great company you have to keep evolving.