MGLuxM July 2020 Highlights: Industry insights on luxury design & craft, adapting to COVID-19 & evolving

The month of July saw SP Jain School of Global Management’s Master in Global Luxury Goods & Services Management (MGLuxM) students of the February 2020 and August 2019 intakes participate in a series of Power Panel webinars and talks with renowned industry experts who shared their insights on luxury design and craft, COVID-19 and adapting and evolving in a rapidly changing world. Here are the highlights:

POWER PANEL WEBINAR: INDUSTRY EXPERTS’ TAKE ON COVID-19

July 1, 2020

We organised a Power Panel webinar with top industry leaders who shared their take on COVID-19’s impact on their sectors. The panel consisted of stalwarts including:

Panellists

Harbhajan Singh (Cricketer)
Dabboo Ratnani (Celebrity fashion photographer)
Bhavna Jasra (Artist and entrepreneur)
Mickey Contractor (Celebrity make-up artist)

Additional Guest Panellists

Sanjay Kapoor (Actor and producer)
Dr Varun Chaudhary (Executive Director, CG Corp Global)
Avin Agrawal (Director, Haldiram Foods International)
Krishna Gupta (MD/Founder – Lloyds Luxuries, Truefitt & Hill)

The session was moderated by Smita Jain (Director – MGLuxM, SP Jain).

The experts termed the standstill as temporary and expressed belief that, despite the challenges, the industries will rebound while adapting to the ‘new normal’.

INDIAN LUXURY DESIGN & CRAFT: A POWER TALK WITH MONICA SHAH

July 3, 2020

Monica Shah (Co-Founder – Jade) spoke to our students about the future of Indian handicrafts, craftsmen and handmade sustainable products. She highlighted that while there is a growing demand for Indian luxury handicraft worldwide, there is also a need for an internationally-relevant Indian product design brand. This offers an excellent opportunity to explore the full potential of luxury handicraft.

Ms Shah also focused on the importance to revive and invigorate India’s traditional crafts and the need for craftsmen to educate themselves of the value of their art and, thereby, prevent the rampant exploitation by middlemen. She also urged students to explore the space of Indian handicrafts and go the extra mile to create offerings that not only celebrate crafts but are also commercially viable.

POWER PANEL WEBINAR: ADAPTING & EVOLVING IN A CHANGING WORLD

July 30, 2020

The world as we know it is undergoing an immense change and only those who adapt and evolve will be able to thrive in the future. What developments should the luxury industry be preparing for in the upcoming months, and how should one face them? This webinar brought together experts to talk and share their knowledge on how they are seizing every opportunity. The panel consisted of industry leaders including:

Tarang Arora (Creator and Jewellery Designer, Amrapali Jewels)
Kaabia Grewal (Co-founder of Outhouse Jewellery)
Mohit Rai (Creative Director and Celebrity Stylist)
Tina Kakkad (Co-Founder of The Bridal Affair)

The session was moderated by Smita Jain (Director – MGLuxM, SP Jain).

In response to the most pressing questions on how to adapt going forward, the panellists highlighted key messages of positivity, innovation and creativity. Here are excerpts from the interaction:

Q: With certain restrictions in place, how will you present a perfect ‘dream wedding’ even if it means staying ‘local’?

Tina Kakkad (Co-Founder of The Bridal Affair): Weddings will be more personalised and intimate. The focus will be on the bride and the groom sans the extravagance. The wedding industry is adapting the virtual platform to plan and execute weddings online.

Q: When it comes to creating statement pieces, what trends do you foresee?

Tarang Arora (Creator and Jewellery Designer, Amrapali Jewels): Minimalistic jewellery is important as it helps the business move forward. The mindset amongst family is changing. The generation today will not go for chunky gold but choose pieces that can be experimented with and reused. People now want to match their clothing to their jewellery and not the other way around (like how it was perceived earlier). We work on many pieces for periodic movies which, later, we also have to create in a way that we can sell it on a commercial level. So, it is important to keep in mind the design aesthetics as well as our clientele.

Q: We see many fashion labels manufacturing masks and turning them into statement pieces. Do you think any other similar trends will emerge?

Mohit Rai (Creative Director and Celebrity Stylist): Currently, most of the customers want their jewellery and fashion products to be more of fantasy pieces. Necessity is the mother of innovation. Today, the mask is part of precaution, but, maybe, 50 years later, it could be part of fashion and could be available as fashion pieces. Many designers are pausing, reflecting and filtering which is necessary for trends.

Q: There is a new wave of minimalism and conscientious shopping, especially by the youth. Do you think Outhouse would explore moving into this segment?

Kaabia Grewal (Co-founder of Outhouse Jewellery): People have statement pieces and that’s our brand ethos. We redefine minimalism through design element, innovation, materials, etc. Jewellery is so intricate that we must strive to maintain a balance between statement pieces and day wear. Keeping the core value is important for this. The essence will be more versatile and trendsetting.