Western fashion brands miss mark with Indian trendsetters
Glyn Atwal and Shaziya Khan
The prospect of an economic slowdown in North America and Europe is forcing luxury fashion brands to focus their resources on big emerging markets. India is no exception.
The luxury fashion industry has identified India as a high growth market. According to the McKinsey Global Institute, India is projected to become the world's fifth-largest consumer market by 2025. Bain & Company reports that the global luxury industry will enter a recession in 2009 but emerging markets including Brazil, Russia, China and India will continue to...