Over the years, corporate interest in the world of high-end fashion has been increasing, through sponsorship as well as investments. And it's creating a win-win situation for all stakeholders
The first thing we noticed as we arrived at the third floor of the Jio World Convention Centre in Mumbai for the 2022 Lakmé Fashion Week (LFW) earlier this month, was the presence of a flock of brands. Right outside the entrance to the runway was a NEXA Grand Vitara; there was a funky set-up by boAt right next to it and on the other end was an entire wall of paintings celebrating 70 years of Lakme in India. At every set-up there were at least two to three influencers or celebrities—all dressed to the nines—clicking photos or videos. Clearly, the brands were getting plenty of bang for their buck.
“In 2008,” Sunil Sethi, chairman, Fashion Design Council of India (FDCI) recalls, “when I started my journey, every journalist would ask me, ‘why isn’t there any corporate money in fashion designer labels’?” Today, of course a lot has changed. Over the years, corporate interest in the world of fashion has only been increasing-–be it in the form of sponsorships for fashion weeks, individual collaborations with designers for a brand new collection or in the form of investment.
Several large companies including ITC, Amazon, Lotus Makeup and Lakmé have backed fashion weeks in the past few years. “When Amazon wanted to launch its fashion ecommerce business in India, they chose to tie up with FDCI for fashion week. Lakmé has been supporting us for years, every year they first launch a new range of makeup at fashion week, which then goes to retail outlets,” says Sethi. “This is a great platform to showcase their products, and it goes to show that they must get a lot of mileage from sponsoring us.”
As far as sponsors are concerned, once they are brought on board, depending on their objective, the organisers suggest a few designers that they could work with. Eventually, the brand decides who they wish to work with.
For brands, it’s the idea of implementing key brand messaging through synergistic storytelling with designers. Bringing their vision to life via a runway showcase on the platform that is witnessed by an immensely large Indian and global fashion community, buyers and consumers ensures visibility like no other, explains Jaspreet Chandok, head of RISE Fashion & Lifestyle. “We take great care in pairing up designers with brands that match organically. Our main aim remains that both partners (brand and designer) get value out of the partnership. Another key trend is that now brands such as Ajio Luxe, Tresemme and Roposo have not tied up with a singular designer but leveraged conversations and activations with the larger fashion community.”