Indian brands need to educate the world about their lifestyle

NEWDELHI: Claudio Marenzi is a well-known name in Italian fashion. The head of Herno Ltd, a luxury firm founded by his father Giuseppe in 1948, Marenzi was chosen president of the employers’ association of the Italian fashion industry, Sistema Moda Italia, in 2013. Last year, he was also named president of Pitti Immagine, an Italian company that organizes some of the world’s most important trade fairs including Pitti Uomo—the world’s biggest platform for men’s clothing and accessories. Marenzi was in India on his first visit to participate in the day-long Luxury Symposium 2018 organized by The Luxury League, a not-for-profit foundation engaged in branding India. In an interview with Mint on the sidelines of the event on Friday, Marenzi spoke about fashion and luxury and opportunities to engage with India. Edited excerpts:

How important is India for the Italian fashion industry?

I think there is a lot of potential in India for Italian brands, given the fast growth of the Indian economy. It is my first visit to India and in just a short trip I have realized that the country is ready to understand what we bring in terms of craftsmanship. And this is because you yourself have a rich heritage of quality craftsmanship.

I visited the DLF Emporio and Chanakya malls and was surprised to see the number of people there. I saw many men wearing this vest (half jacket or bundis with a mandarin collar) and this is an example of how you have adopted something Western to suit your own sensibilities. That is one aspect. The other aspect is that there is a lot of scope for partnerships with textile and manufacturing firms in India.

India is the eighth largest exporter to Italy, accounting for goods worth €500 million. But as a market for Italian goods, India is the 51st on the list, accounting for just about €45-50 million, so there is a huge trade gap and, therefore, huge potential for Italian brands to grow here. But taxes are too steep. The young generation is more connected and won’t take no for an answer. If they want something, they will buy. If the product is too expensive in India, they will go to Europe or Dubai to buy it and it is a loss of revenue for the Indian fashion industry.

Fashion is among the most important exports from Italy. What do you think makes Italian fashion aspirational? What is the status of Italian fashion today?

Fashion manufacturers contribute about €96 billion to the Italian economy. We are the second largest manufacturing segment. We represent about 42% of the European fashion industry as a whole. To put that into perspective, Germany represents about 38% of the European automotive industry. That is the kind of dominance we have.

As to why, we are the children of the Renaissance men. So there is a rich history and tradition in terms of not only fashion but also architecture, design, food and innovation. And since World War II, we have also started developing different regions across Italy for different crafts. People say that the Italians are the chefs and the tailors of the world and I think they are right.

What are your suggestions to the Indian fashion fraternity? How can they grow further and expand globally?

What I have understood so far is that there is potential. Indians understand heritage, craftsmanship and quality. The task in front of Indian brands right now is to make the global consumer understand Indian lifestyle, heritage and craftsmanship. They have to convince a man sitting in New York to wear a vest.

That is the next step, to educate the world about what Indian fashion is all about.