Indo-French Chamber Hosts Luxury Symposium 2024 at Taj Mahal Palace, Mumbai

by  EVENTFAQS Bureau Industry Watch | March 31, 2025 | News

The Indo-French Chamber of Commerce and Industry (IFCCI), in partnership with Comité Colbert, recently hosted the second Luxury Symposium at the Taj Mahal Palace, Mumbai. Organized by the IFCCI Luxury Committee, the event featured over 40 speakers from India, France, and the Middle East, including Alexis Mourot, CEO of Christian Louboutin, and Stephane Larher, MD, MEIA, Bvlgari. The symposium focused on India’s role in the global luxury market and encouraged Indo-French collaborations in luxury, craftsmanship, and heritage.

Fashion designer Manish Malhotra delivered the keynote address. He spoke about his transition from costume design to luxury ventures, highlighting persistence, risk-taking, and innovation. He also discussed Dubai’s importance as a market due to its diverse clientele. He noted that fashion is not only about clothing but also about storytelling, culture, and aspiration.

French Ambassador Thierry Mathou spoke about the partnership between France and India in the luxury sector, emphasizing their shared focus on quality, innovation, and cultural exchange. During the event, the Ambassador presented an award to designer Sabyasachi Mukherjee on behalf of IFCCI, recognizing his 25 years in the industry. Mukherjee said that India’s craftsmanship is built on generations of tradition and knowledge, making it a key part of the country’s identity in luxury.

Discussions at the symposium covered topics such as the evolution of media in India’s luxury industry, digital overexposure, trust in media, and storytelling in branding. Speakers also addressed India’s demographic advantage and its increasing role in the global luxury economy. Economic projections indicate that India’s luxury market could grow at an annual rate of 9-10% over the next five years, driven by rising consumption and wealth. The expanding international presence of Indian craftsmanship and design was also discussed, along with the use of technology and sustainability. Other topics included the balance between cultural appreciation and appropriation in luxury, the role of digital and print media, and strategies for brand awareness. The impact of artificial intelligence, digital transformation, and changing consumer preferences on India’s luxury market was another focus.

Bénédicte Épinay, CEO of Comité Colbert, spoke about India’s position as the fourth-largest beauty market and the increase in luxury purchases, which reached €272 million in 2024. She also discussed the India-EU Free Trade Agreement and some of the industry’s challenges. Srimoyi Bhattacharya, Founder of Peepul Advisory and Chairperson of the IFCCI Luxury Committee, said that efforts are being made to strengthen India’s luxury industry by adapting practices from France's Comité Colbert to suit the Indian market.

The IFCCI Luxury Symposium provided a platform for discussions on industry trends, business partnerships, and market expansion. The Luxury Committee is led by IFCCI Director General Payal Kanwar, Chairperson Srimoyi Bhattacharya, and Vice-Chairpersons Swagata Bottero, India Affairs and Strategy Director at Cartier, and Anurag Tyagi, Country Manager at Christian Dior Couture India. Payal Kanwar said that the chamber is committed to supporting industry discussions and Indo-French collaborations.

The event ended with a reception hosted by the Chanakya School of Craft in Mumbai