Haute & Happening

As global giants slow down, Indian entrepreneurs have an opportunity to take homegrown luxury to the world. But what does it take to build a luxury brand in a value-conscious country?

- By KATHAKALI CHANDA, MONICA BATHIJA, BENU JOSHI ROUTH & ANUBHUTI MATTA

Not too long ago, Mumbai’s Horniman Circle was an address headlined by two iconic luxury brands.

On the northern edge of the crescent that is lined with a row of neoclassical, colonial-era buildings stood the showrooms of French high fashion duo Christian Louboutin, known for its glossy red-soled shoes, and Hermes, for exquisitez leather craftsmanship. They afforded passersby a fleeting peek into the rarefied world of global luxury.

Cut to 2025, and the spotlight has shifted.

The curious glances that were once reserved for international brands are now drawn to two homegrown names that have come up in the vicinity. The first among them is an opulent three-storeyed “fashion museum” tucked behind an unassuming facade; it was set up in 2023 by Sabyasachi Mukherjee, founder of the eponymous label who is renowned for dressing Bollywood glitterati in bridal couture. More recently, in August, Rahul Mishra, designer to celebrities like Cardi B and Zendaya, unveiled his 7,500 sq ft atelier, a space that celebrates not just his collection of apparel and accessories, but also the avian, botanical and entomological motifs that serve as his muse.