Given the success of Hermes' luxury Chinese brand - Shang Xia - it was only a matter of time before it turned to India. The new Hermes sari, to be launched next Friday in Mumbai, is a bold attempt by the French luxury brand to 'connect' with rich Indians.
The sari is an acknowledgement by Hermes of the Indian woman's attachment to tradition. She may wear an Armani suit during the day and a Versace gown for a party, but for weddings and formal occasions, Indian women prefer to wear a sari due to their strong cultural identity.
'We want to meet Indian culture. Our sari is not a marketing tool; it is a tribute to Indian culture and elegance,' says Hermes regional head Bertrand Michaud.
The idea of a Hermes sari is, for Radha Chadha, managing director of Chadha Strategy Consulting in Dubai, a master stroke. 'It's delightful. It's like saying 'namaste' to India in its own language,' she says.
The 25 saris - made of cashmere, twill silk and mousseline changeante - have been created in Paris and are priced at US$2,000. The range demonstrates a new awareness by the luxury brands, who have not seen the kind of growth in India that they have experienced in China or Russia, of the need to cater to the specific needs of the discerning and often finicky rich Indians.
With economic growth roaring along at 8 per cent annually, and some 200,000 millionaires, India was expected to be a no-brainer for the luxury brands. Yet it accounts for just 0.5 per cent of the global luxury market at US$846 million. China accounts for 10 per cent, at US$17 billion.
