Gitanjali Group Associates with High Profile Fashion / Luxury Events

Over the next few weeks, the Gitanjali Group, a leading diamond and jewelry manufacturer, will be sponsoring Lakme Fashion Week (LFW) and HT Media Luxury Conference, two high-profile fashion / luxury events.

The associate sponsorship of the LFW Autumn Winter 2007, to be held in Mumbai March 27-31, was announced by Mehul Choksi, Chairman, Gitanjali Group and Anil Chopra, VP, Lakme Lever at a press conference in Mumbai Tuesday.

Speaking to Jewelbiz India, Choksi said that the group aimed to change the traditional thinking where consumers associated jewelry purchases with savings and investment. “With initiatives like this, we aim to strengthen the fashion driver in jewelry purchases and establish our jewelry brands as an integral part of the fashion world,” he added.

Lakme Fashion Week showcases creations of 43 leading fashion designers from across India. Besides being associate sponsor, the Gitanjali Group will also organize three special events during the week – theme nights focused on Ice, Fire, and Bling.

Choksi informed Jewelbiz India that the Gitanjali Group and its new partner, Luxury Connexions, would be the sponsors at the HT Media Luxury Conference. The theme for the Conference is “India: Captivating the World.” The platform aims to bring together global leaders from the worlds of fashion, design, and lifestyle with government policy makers and will focus on the state of the Indian market and the future direction of luxury retailing in the country.

Speakers at the conference will include Kamal Nath, India’s Minister of Commerce; Yves Carcelle, Chairman and CEO Louis Vuitton Malletier; Francoise Montenay, President Chanel SAS and Chairperson Comite Colbert; Philippe Leopold-Metzger, CEO Piaget, and others.

A recent report by KSA Technopak, "India Luxury Trends 2006", estimates the value of the Indian luxury sector at $444 million. India's 1.6 million high-income households earns more than Rs. 4.5 million ($100,000) a year, and is growing in number at an annual rate of 14 percent. They spend nearly $9,000 per annum on luxury goods.

Choksi says that associating with the conference was one more step towards “developing some of our well known jewelry brands into luxury brands”.