Word: fashion
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...pages, married Atulya Mafatlal in 2000, she joined one of India's oldest industrial families. But she never wanted to be just a trophy wife. Mafatlal has degrees in finance and law from Bombay and has also studied at Harvard. "I always wanted to go into something connected with fashion, not designing but running a conglomerate," says Mafatlal when we meet in London...
...fiscal conservatism, of saving rather than spending. Yet the combination of a GDP rising at 8% per annum and one of the world's youngest populations (more than 200 million people between the ages of 15 and 24) means spending power has shifted to those with a fever for fashion. Add to that the booming media in the world's largest democracy bringing brand awareness, plus the reduction of once punitive import taxes, and India starts looking like a gold mine?except for its labyrinthine bureaucracy, which can be as time consuming as it was in the days...
...that has not stopped the fashion flock from, well, flocking. Louis Vuitton braved these waters three years back, when import taxes were still high. Since then, Dior has entered the market, as has Versace. An Indian edition of Vogue will soon join Elle in competition with an already robust local fashion press...
Mafatlal lives most of the year in Bombay, so why is her first retail site in New Delhi? "Bombay has Bollywood, it has glamour, but northern India is more flamboyant, and activities are centered on hotels," she explains. New Delhi's climate and seasonal changes are also better for fashion. "This is still a developing country," says Mafatlal. "What we are doing is an entirely new concept. It's not as if they can go window shopping...
...TENTS AT NEW YORK Fashion Week this month, many of the spring 2007 shows will include clothes destined to be manufactured in China. It's a safe bet, though, that only one of the clothing lines will have been entirely conceived and designed in the southern Chinese city of Xiamen. That distinction belongs to Ports 1961, a newcomer to the U.S. fashion scene, whose origins redefine words like globalization and Made in China...