Growth and Potential of International Luxury Fashion Brands Essay

This is to certify that the project entitled ? Growth and Potential of Luxury International Fashion Brands in India? is submitted towards the partial fulfillment of the program ? Master of Fashion Management‘ by Kanan Gupta. It is an original work done under my guidance and the results are based on the research done by her. Name of mentor: Mr. Kislay Kashyap Asst. Professor Department of MFM NIFT, Patna Date: 01-03-2012 Place: Patna 1|Page DECLARATION I, Kanan Gupta hereby declare that the project entitled ? Growth and Potential of Luxury International Fashion Brands in India? submitted towards, partial fulfillment of the program Master of Fashion Management is my original work and no part of the project has been copied from any other report or carried by someone else or has been submitted for any other degree/award. However, any material taken from any other published sources has been suitably referred and acknowledged at various places. Name : Kanan Gupta Roll no : 17 Batch : 2011-2013 Centre : Patna Date Place : 01-03-2012 : Patna 2|Page ACKNOWLEDGEMENT I owe my gratitude to many people who helped and supported me during the research and compilation of my project report. I would like to thank my mentor Mr Kislay Kashyap for approving my project and express my indebted gratitude for his guidance and suggestions at every stage of this report. My sincere gratitude is also due to my seniors for their constant encouragement and support. I would like to express my thanks to all those people who were directly and indirectly involved in shaping my project by providing valuable information and co-operation. 3|Page EXECUTIVE SUMMARY INTRODUCTION: This is a project to study about the ? Growth and Potential of Luxury International Fashion Brands in India?. If we look into the past, no one could imagine that a luxury market would exist in India. But over the years with the change in the demographics of the Indian consumer and with higher disposable income available, the luxury market in India has indeed emerged as one of the fastest growing markets in the retail segment. PROBLEM DEFINITION: The Indian Luxury Market is still a niche market and people have got a very low personal disposable income, though it has increased a lot from before but not so much to afford international luxury fashion brands and the people who have got a high disposable income lack enough knowledge about the international fashion brands available in India as the luxury international stores are limited to metropolitans only. 4|Page OBJECTIVE: The main objectives of the projects are ? Analyze the Luxury Brand Awareness among the Indian consumers. ? Reasons behind customers buying Luxury fashion Brands ? Analyze the major international fashion brands in India. ? To analyze the Current Scenario and the Growth of Indian Luxury fashion brands and the Market. RESEARCH METHODOLOGY: ? The secondary research is through Magazines, journals, articles and internet. ? Primary research through focus group interview with industry personnel, customers. HYPOTHESIS: ? Assuming that there is a strong scope for the growth of international luxury fashion brands in India. ? Taking an assumption that Luxury fashion brands do not have much scope in the Indian market. 5|Page CONTENTS Ch. No. 1. 0 2. 0 3. 0 3. 1 3. 2 3. 3 3. 4 3. 5 3. 6 3. 7 4. 0 4. 1 4. 2 4. 3 5. 0 5. 1 5. 2 5. 3 5. 4 6. 0 7. 0 8. 0 9. 0 9. 1 9. 2 Chapter Name Objective Research Methodology Literature Review Introduction India at Glance Geography People Understanding Luxury Defining Luxury Socio Economic Significance of Luxury Acquainting with Luxury Fashion Brand Major Difference between Regular Brands and Luxury Brands Persona of Indian Luxury Industry Famous Luxury Brands and their destination in India SWOT Analysis Major Problems Faced by Luxury Fashion Industry Growth and Potential of Luxury Brand Growth of Indian Luxury Market Luxury Fashion Branding Strategies Final Summary Primary Research Findings Annexure Questionnaire Bibliography Page No. 7 8 9 9 9 11 13 14 15 16 17 21 23 26 31 32 33 35 39 41 43 54 56 56 58 6|Page 1. 0 OBJECTIVE: The main objectives of the projects are ? Analyze the Luxury Brand Awareness among the Indian consumers. ? Reasons behind customers buying Luxury fashion Brands ? Analyze the major international fashion brands in India. ? To analyze the Current Scenario and the Growth of Indian Luxury fashion brands and the Market. 7|Page 2. 0 RESEARCH METHODOLOGY: ? Secondary research through Magazines, journals, articles and internet. ? Primary research through focus group interview with industry personnel, customers. 8|Page 3. 0 LITERATURE REVIEW 3. 1 INTRODUCTION: If we look into the past, no one could imagine that a luxury market would exist in India. But over the years with the change in the demographics of the Indian consumer and with higher disposable income available, the luxury market in India has indeed emerged as one of the fastest growing markets in the retail segment. Through this report I have tried to give an estimate of the luxury retail market in India, how much it has penetrated and also how much it is likely to grow. Also I have tried to specify various factors that are crucial for the success of luxury brands in India. While doing out research on this project I have come across many new findings. The role the Indian market plays in the global scenario and the position of India vis-a-vis other countries. Also I understood about the duties and legal requirements for this segment. I have tried my level best to cover all the aspects in regard to my research. India today is fast becoming a new world of modern luxury. The country now teems with luxurious international brands, spurring the ascent of an Indian luxury market. One does not need to travel abroad to shop for luxury. Luxury goods and services sit aplenty right at home. Indians, however, have to realize such, be informed where to avail of them, and be convinced of the convenience and ease of access to these luxury goods and services. In the same vein, foreigners can also visit India to shop for same luxury. India can very well be placed on the global luxury-shopping map. There is, therefore, a huge opportunity to pump prime the luxury market field in India. 9|Page 3. 2 INDIA AT GLANCE: FOCUS : Study about India and its habitats. India is one of the oldest civilizations in the world with a kaleidoscopic variety and rich cultural heritage. It has achieved all-round socio-economic progress during the last 60 years of its Independence. India has become self-sufficient in agricultural production and is now the tenth industrialized country in the world and the sixth nation to have gone into outer space to conquer nature for the benefit of the people. It covers an area of 32,87,2631 sq km, extending from the snow-covered Himalayan heights to the tropical rain forests of the south. As the 7th largest country in the world, India stands apart from the rest of Asia, marked off as it is by mountains and the sea, which give the country a distinct geographical entity. Bounded by the Great Himalayas in the north, it stretches southwards and at the Tropic of Cancer, tapers off into the Indian Ocean between the Bay of Bengal on the east and the Arabian Sea on the west. Lying entirely in the northern hemisphere, the mainland extends between latitudes 8 °4? and 37 °6? north, longitudes 68 °7? and 97 °25? east and measures about 3,214 km from north to south between the extreme latitudes and about 2,933 km from east to west between the extreme longitudes. It has a land frontier of about 15,200 km. The total length of the coastline of the mainland, Lakshadweep Islands and Andaman& Nicobar Islands is 7,516. 6 km. 10 | P a g e 3. 3 Geography: Location: The Indian peninsula is separated from mainland Asia by the Himalayas. The Country is surrounded by the Bay of Bengal in the east, the Arabian Sea in the west, and the Indian Ocean to the south. Geographic Coordinates: Lying entirely in the Northern Hemisphere, the Country extends between 8 ° 4? and 37 ° 6? latitudes north of the Equator, and 68 °7? and 97 °25? longitudes east of it. Indian Standard Time: GMT + 05:30 Area: 3. 3 Million sq km Telephone Country +91 Code: Border Countries: Afghanistan and Pakistan to the north-west; China, Bhutan and Nepal to the north; Myanmar to the east; and Bangladesh to the east of West Bengal. Sri Lanka is separated from India by a narrow channel of sea, formed by Palk Strait and the Gulf of Mannar. Coastline: 7,516. 6 km encompassing the mainland, Lakshadweep Islands, and the Andaman & Nicobar Islands. 11 | P a g e Climate: The climate of India can broadly be classified as a tropical monsoon one. But, in spite of much of the northern part of India lying beyond the tropical zone, the entire country has a tropical climate marked by relatively high temperatures and dry winters. There are four seasons – winter (December-February), (ii) summer (March-June), (iii) south-west monsoon season (June-September), and (iv) post monsoon season (October- November). Terrain: The mainland comprises of four regions, namely the great mountain zone, plains of the Ganga and the Indus, the desert region, and the southern peninsula. Natural Resources: Coal, iron ore, manganese ore, mica, bauxite, petroleum, titanium ore, chromite, natural gas, magnesite, limestone, arable land, dolomite, barytes, kaolin, gypsum, apatite, phosphorite, steatite, fluorite, etc. Natural Hazards: Monsoon floods, flash floods, earthquakes, droughts, and landslides. Environment – Current Issues: Air pollution control, energy conservation, solid waste management, oil and gas conservation, forest conservation, etc. Environment – International Agreements: Rio Declaration on environment and development, Cartagena Protocol on biosafety, Kyoto Protocol to the United Nations Framework Convention on climatic 12 | P a g e change, World Trade Agreement, Helsinki Protocol to LRTAP on the reduction of sulphur emissions of nitrogen oxides or their transboundary fluxes (Nox Protocol), and Geneva Protocol to LRTAP concerning the control of emissions of volatile organic compounds or their transboundary fluxes (VOCs Protocol). Geography – Note: India occupies a major portion of the south Asian subcontinent. 3. 4 PEOPLE: Population: 1,21,01,93,422 Decadal Population Male: 9,15, 01,158 Growth: Female: 8,99, 54, 828 Density of Population: 382 per sq. km. Sex Ratio: 940 per 1000 males Nationality: Indian All the five major racial types – Australoid, Mongoloid, Europoid, Caucasian, and Negroid find representation among the people of India. Ethnic Groups: 13 | P a g e Religions: Hindus constituted the majority with 80. 5 %, Muslims came second at 13. 4%, followed by Christians, Sikhs, Buddhists, Jains, and others. Languages: There are 22 National Languages have been recognized by the Constitution of India, of which Hindi is the Official Union Language. Besides these, there are 844 different dialects that are practiced in various parts of the Country. Literacy: Persons: 77,84,54,120 Males: 44,42,03,762 Females: 33,42,50,358 GDP: Nominal GDP stands at US$1. 53 trillion as per 2010 census 3. 5 UNDERSTANDING LUXURY AND AQUAINTING WITH LUXURY FASHION BRANDS: FOCUS : Getting introduced to the term ? LUXURY? Luxury, derived from the Latin word luxus, means indulgence of the senses, regardless of cost. Luxury is something that everyone wants but nobody needs, its an area of huge comfort and the best of the best. 14 | P a g e A luxury brand is a brand for which a majority of its products are luxury goods. It may also include certain brands whose names are associated with luxury, high price, or high quality, though few, if any, of their goods are currently considered luxury goods. The luxury sector targets its products and services at consumers on the top-end of the wealth spectrum. These self-selected elite is more or less price insensitive and chooses to spend their time and money on objects that are plainly opulence rather than necessities. For these reasons, luxury and prestige brands have for centuries commanded an unwavering and often illogical customer loyalty. 3. 6 DEFINING LUXURY: The concept of luxury has been present in various forms since the beginning of civilization. Its role was just as important in ancient western and eastern empires as it is in modern societies. With the clear differences between social classes in earlier civilizations, the consumption of luxury was limited to the elite classes. It also meant the definition of luxury was fairly clear. Whatever the poor cannot have and the elite can was identified as luxury. With increasing ? democratization‘, several new product categories were created within the luxury markets that were aptly called – accessible luxury or mass luxury. This kind of luxury specifically targeted the middle class (or what is sometimes termed as aspiring class). As luxury penetrated into the masses, defining luxury has become difficult. In contemporary marketing usage, Prof. Bernard Dubois defines ? luxury‘ as a specific (i. e. higher-priced) tier of offer in almost any product or service category. However, despite the substantial body of knowledge accumulated 15 | P a g e during the past decades, researchers still haven‘t arrived on a common definition of luxury. Many other attempts have been made to define luxury using the price-quality dimension stating higher priced products in any category is luxury. Similarly, researchers have used the uniqueness aspects of luxury too. Prof. Jean-Noel Kapferer, takes an experiential approach and defines luxury as items which provide extra pleasure by flattering all senses at once. Several other researchers focus on exclusivity dimension and argue that luxury evokes a sense of belonging to a certain elite group. 3. 7 SOCIO ECONOMIC SIGNIFICANCE OF LUXURY: Several manufactured products attain the status of â€Å"luxury goods† due to their design, quality, durability or performance that are remarkably superior to the comparable substitutes. Thus, virtually every category of goods available on the market today includes a subset of similar products whose â€Å"luxury† is marked by better-quality components and materials, solid construction, stylish appearance, increased durability, better performance, advanced features, and so on. As such, these luxury goods may retain or improve the basic functionality for which all items of a given category are originally designed. There are also goods that are perceived as luxurious by the public simply because they play a role of status symbols as such goods tend to signify the purchasing power of those who acquire them. These items, while not necessarily being better (in quality, performance, or appearance) than their less expensive substitutes, are purchased with the main purpose of displaying wealth or income of their owners. These kinds of goods are the objects of a socio-economic phenomenon called conspicuous consumption and commonly include luxury vehicles, watches, jewelry, designer clothing, yachts, as well as large residences, urban mansions, and country houses. 16 | P a g e 4. 0 AQUAINTING WITH THE LUXURY FASHION BRANDS Luxury fashion brands have often been associated with the core competencies of creativity, craftsmanship, precision, high quality, innovation, & premium pricing. These product attributes give the consumers the satisfaction of not only owning expensive items but the extra-added psychological benefits like the esteem, prestige and a sense of a high status that reminds them and others that they belong to an exclusive group of only a select few, who can afford the pricey items. The luxury sector targets its products and services at consumers on the top-end of the wealth spectrum. These self-selected elite are more or less price insensitive and choose to spend their time & money on objects that are plainly opulence rather than necessities. For these reasons, luxury and prestige brands have for centuries commanded an unwavering and often illogical customer loyalty. 17 | P a g e Luxury has never been something easy to define; yet this mystery concept is something highly desired by one & all alike. I look at delving deeper into this mystery and aura of luxury goods by way of comparing them against ? regular goods‘ as well as highlighting the characteristics of the luxury industry. But before beginning with that, lets first attempt to understand some common terms associated in the world of high-end goods. Luxury and Prestige brands such as Rolex, Louis Vuitton and Tag-heuer represent the highest form of craftsmanship and command a staunch consumer loyalty that is not affected by brands. These brands create and set the seasonal trends and are also capable to pulling all their consumers with them wherever they go. 18 | P a g e Premium brands are those brands like Polo, Ralph Lauren, Versace and Tommy Hilfiger that aspire to be luxury and prestige brands but their marketing mix strategies are more attuned to a mass market, albeit a luxury mass market. They also termed as mass Premium brands or luxury brands. Fashion brands are those that address the masses. LVMH (Louis Vuitton Moet Hennessy) is the largest luxury good producer in the world with over fifty brands, including Louis Vuitton, the brand with the world’s first designer label, other famous fashion brands are Chanel, Gucci etc. 19 | P a g e Luxury is a Hub of Business Luxury brands take the elements they feel passionate about, add design then develop it and present it to the customers that exceed their expectations. A luxury good is a product at the highest end of the market in terms of quality and price. Classic luxury goods include haute couture items such as clothing, accessories and luggage. However, many markets have a luxury segment including for instance, cars, wine and chocolates. Such brands share characteristics like consistent premium quality, a heritage of craftsmanship, a recognizable style or design, a limited production run of any item to ensure exclusivity, an element of uniqueness and an ability to keep coming up with new designs when the category is fashion-intensive. Keeping it simple and realistic, luxury is anything and everything that you may truly desire; it can be short lived or a life long desire – it is ? your‘ emotional connect and reward that allows it to appear as luxury. 20 | P a g e 4. 1 MAJOR DIFFERENCES BETWEEN REGULAR BRANDS AND LUXURY BRANDS: FACTOR REGULAR GOODS LUXURY GOODS Available at posh, PLACE Available at convenience and according to the product category exclusive and selected locations ? Highly customized or ? Multiple mass variances but PRODUCT standardized. ? Service levels range from low to high. limited editions of products. ? Very high personnel service. PRICING Value for money Premium pricing ? Pre- ? All kinds of media (ATL, BTL) used. ? Product functional and aspirational PROMOTION value appeals. ? All kinds of reference group appeals used. dominantly premium above the line media. e. g. Connoisseur, Magazines, 21 | P a g e Travel media) ? Products have the exclusive appeal. ? Mostly celebrity appeals. Luxury goods are Those goods for which demand is inversely proportional to price. also called as Veblen‘s goods, the demand for the product is said to increase with the increase in price. ECONOMIC DEFINITION BRAND EXTENSION DECISIONS Based on defending your turf. (R&D based decisions to an extent). Based on marketing the luxury brand. DRIVERS OF BRANDS Functional attributes and innovation. Tradition and brand heritage. Source: Luxury Marketing, Samit khanna- IIM-A 22 | P a g e 4. 2 PERSONA OF INDIAN LUXURY INDUSTRY: FOCUS : Understanding the characteristics of luxury brands. CHARACTERISTICS OF INDIAN LUXURY INDUSTRY: 1. THE MEANING OF LUXURY HAS CHANGED: Luxury has moved from its ? old‘ meaning of ownership (also known as conspicuous consumption – Conspicuous consumption is a term used to describe the lavish spending on goods and services that are acquired mainly for the purpose of displaying income or wealth rather than to satisfy a real need of the consumer. In the mind of a conspicuous consumer, such display serves as a means of attaining or maintaining social status. Invidious consumption, a necessary corollary, is the term applied to consumption of goods and services for the deliberate purpose of inspiring envy in others) of objects to the ? new‘ meaning of the experience / fulfillment derived from possessing a certain object. 2. LUXURY MEANS DIFFERENT TO DIFFERENT PEOPLE: Luxury has no certified origins. But luxury branding is said to have taken birth in the west with the appearance of high-end brands. But there is still no definite meaning of luxury, for someone luxury can be a necessity and vice-versa. If one can think a luxury brand is really cheap, its not necessary that the other person also will think the same way. Luxury is yet to be defined, it totally differs from person to person. 23 | P a g e 3. LUXURY IS A PRODUCT CATEGORY IN ITSELF: This can be best clarified by the fact that both an expensive watch and an apparel can be considered to be luxury items. Therefore, all luxury marketers are not just competing in their ? technically defined‘ product categories (like manufacturers of televisions compete among themselves) but for the wallet share of luxury goods in total. 4. CLASSIFICATION OF LUXURY CONSUMERS: SRI Consulting Business Intelligence places consumers in 3 groups according to what luxury means to them: Luxury is Indulgence – This group is the smallest of the three and tends to include younger consumers and slightly more males than the other two groups. Their purpose for luxury goods is to lavish themselves in self-indulgence. They are willing to pay a premium for goods that express their individuality and make others take notice and are not overly concerned with product longevity or possible criticism. They enjoy luxury for the way it makes them feel, therefore have a more emotional approach to purchases. They respond well to messages that highlight the unique and emotional qualities of a product. Luxury is Reward – These consumers tend to be younger than the first group but older than the third. They use luxury goods as a status symbol to say ? I‘ve made it! ? They are motivated by their desire to be successful and demonstrate this to others. Luxury brands that have widespread recognition are popular, however they don‘t wish to appear lavish or hedonistic in their appearance. They want to purchase ? smart? luxury that demonstrates importance while not 24 | P a g e leaving them open to criticism. Marketing messages that communicate acceptable exclusivity resonate with this group. Luxury is Functional – these consumers tend to buy luxury products for their superior functionality and quality. Consumers in this segment, the largest of the three, tend to be older and wealthier and are willing to spend more money to buy things that will last and have enduring value. They buy a wide array of luxury goods, from artwork to vacations, and conduct extensive prepurchase research, making logical decisions rather than emotional or impulsive. Messages that highlight product quality and are information-intensive are powerful with this group. 5. CUSTOMER LOYALTY IS MORE IMPORTANT THAT BRAND AWARENESS: Rather than focus on measuring the brand awareness of a luxury company, measuring customer loyalty is far more significant a metric regarding the success or failure of corporate strategy to connect with the luxury consumer. 6. CERTAIN FACTORS WHICH PLAY A N IMPORTANT ROLE: In luxury marketing there is a subtle interplay between three factors that most strongly influence the luxury consumer to buy: product brand; dealer or store’s brand or service providers’ reputation; and price/value relationship. 25 | P a g e USERS OF LUXURY BRANDS IN INDIA: ? CEOs and other senior professionals (in their thirties and early forties) ? Entrepreneurs in new businesses ? â€Å"Prodigal children† ? Actors and models ? Franchisees, and small and medium Retailers 4. 3 FAMOUS LUXURY BRANDS AND THEIR DESTINATIONS IN INDIA FOCUS : To evaluate about all the famous luxury brands available in India and the places where they are available. UB CITY- THE COLLECTION, BANGALORE: UB City is the biggest commercial property project in Bangalore, India. Pioneered by the chairman of UB Group, Dr. Vijay Mallya , it is built on 13 acres (53,000 m2) of land and hosts 1,000,000 sq ft (93,000 m2) of high-end commercial, retail and service apartment space. UB City has four towers namely, UB Tower (19 Floors), Comet (11 Floors), Canberra (17 Floors) and Concorde (19 Floors). UB City has four towers namely, yelahanka. The later three towers are all named after aircraft. UB City will house the Group offices under one roof – UB Tower. Concorde & Canberra will have retail space on the lower floors and office space in the higher levels, while Comet will have serviced apartments. It will house commercial offices, banks, high-end retail stores, a five star hotel, 26 | P a g e serviced apartments, restaurants, food courts, pubs, health clubs and cafes. Multi-level parking areas will offer virtually unlimited parking spaces. Also on the blueprint is an amphitheatre with food courts and landscaped gardens. UB City will provide parking space for over 1,100 cars. Being an environment friendly project and keeping in mind the green surroundings of Cubbon Park, one-third of the space has been earmarked for landscaped gardens. An elevated roof top helipad will provide a five-minute aerial commute to the airport. Four storeys of multi level parking, in addition to one common basement for the entire UB City and extensive surface level car parks, will provide UB City the remarkable prospect of offering literally unlimited car parking space. BRANDS AVAILABLE AT UB CITY-THE COLLECTION: ? Louis Vuitton ? Alfred Dunhill ? Estee lauder ? Mont Blanc ? Zimson ? Rolex ? Canali ? Salvatore Ferragamo ? Paul Smith ? Lladro ? Versace ? Corneliani ? Burberry ? Jimmy Choo ? Diesel 27 | P a g e DLF EMPORIO, NEW DELHI- DLF Emporio has been designed as a name synonymous with luxury – offering a unique shopping experience where the accent is on exclusivity, space and aesthetics. There is simply no other place where such a wealth of designer and premium merchandise, lifestyle products and services are showcased under one elegant roof. The nuances of luxurious serenity are going to be expressed at DLF Emporio in a way found only in the fashion capitals of the world, offering just the right kind of tasteful and sublime ambience to attract high value spenders. 28 | P a g e DLF EMPORIO RETAIL MIXGreat care is being taken to ensure that the global retail community at DLF Emporio is the most premium. Only the finest signature brands, designer labels and high end lifestyle products co-exist here. Some of the brands in DLF Emporio include Giorgio Armani, Salvatore Ferragamo, Louis Vuitton, Cartier, Fendi, Dior, Just Cavali, DKNY, Tods, Burberry, Hugo Boss to name a few. ESSENTIAL PLAYERS OF THE LUXURY MARKET IN INDIA: ? JEWELLERY- Cartier, De Beers, Tiffanys etc. ? CLOTHING- Louis vuitton, Varsace, Armani, Chanel, Gucci etc. ? ACCESSORIES- Fendi, Jimmy Choo, Ferragamo Salvatore etc. ? AUTOMOBILES- Mercedes, Volvo, BMW, Volkswagen, Nissan, Audi etc. 29 | P a g e 30 | P a g e 5. 0 SWOT ANALYSIS: FOCUS : To do the swot analysis and ascertain the major problems faced by the international fashion brands in India. STRENGTH WEAKNESS 1. Brand Name/Brand Ambassadors 2. Customer Loyalty 3. Quality 4. Global Presence 1. Concentrated Market-only metro cities 2. Government Regulations 3. High Prices 4. Percentage of target audience is Less 5. Higher Operational cost-rents. OPPORTUNITY THREATS 1. Manufacturing the brands in India 1. Fake branded stuff available in India itself rather than importing it 2. FDI Regulations 3. Globalization 2. Available at cheaper prices abroad 31 | P a g e 5. 1 MAJOR PROBLEMS FACED BY THE LUXURY FASHION INDUSTRY- 1. LACK OF AWARENESS OF BRANDS AMONGST INDIAN CONSUMERS: The Indian consumers are not aware of the brands available in India, Most rich people who can afford the luxury brands either live in smaller towns and cities where there is no outlet or awareness of the brands. 2. PREFERENCE OF BUYING FROM FOREIGN COUNTRIES: People who are aware of the brands and live in metro cities and have a higher disposable income prefer buying from abroad as they travel a lot and so they prefer buying from abroad itself as they get a better and wide variety of products with lesser prices. 1. DUPLICATION AND KNOCK-OFFS: There are a lot of duplicate and knock-offs available in the Indian market. Most of these products come from China. The same branded product, which is available for 25000 Rs. , is available for 1500 Rs. When it is not authentic. Though the quality of these products is not good, they appear to be the same and hence people don‘t mind buying them. But people in India do not believe in authenticity, if they see the name and the knock-off looks exact, they buy that item as they believe in showing off. 32 | P a g e 2. LACK OF RETAIL SPACE: The luxury retail stores are located in 5 star hotels or malls in selected cities, as we all know that there are only two luxury malls in India, The collection-UB City, Bangalore and the DLF-Emporio Mall, New Delhi, because that is where the potential customers are most likely to come for shopping, hence the feasible space available is very less. 3. LOW CUSTOMER TURNOVER: The number of customers who visit a luxury store is comparatively lower than a regular store. Also the luxury store outlets are located exclusively in certain areas and are sometimes not accessible by everyone, this factor also affects the customer turnover. 4. HIGH OPERATIONAL COST: The cost of operating a luxury outlet is high because the size of the store has to be elaborated and also it has to locate at a prime location in major cities. Due to the image that is associated with luxury products, the cost of maintaining the store is high because it has to look upbeat all the time. At the same time these stores normally situated in 5 star hotels or big shopping malls where the rents charged are very high and hence the cost is further increased. 5. 2 GROWTH AND POTENTIAL OF LUXURY BRAND: FOCUS : Study about the roots and the growth of the luxury market of India. LUXURY is no stranger to India. The erstwhile maharajas and princes led a life of opulent splendor. The only way to be apart of the elite as to be born into it. 33 | P a g e The lifestyle as also associated with hunting, polo and her games of the rich. New money could never get into this circuit. The aspiration was always there. But the princes operated in a different league altogether. The era of the selfmade millionaire was yet to arrive. So small possessions, or copied fashion designs with a few geegaws thrown in, became the height of luxury. An achiever of the 1970s could only get by with a good foam mattress — no Omega, Rolex or BMWs. This trend saw a shift, a gradual one, in the 1980s. Luxury began creeping into upper class homes through small things and symbols. The colour TV came in, the humble pen was elevated to a Parker, successful self-made people began to be featured in magazines. The concept of luxury as a reward for achievement gained acceptance, though royalty and the aristocracy continued to remain the benchmark of the elite. The real change came in the 1990s when more people started making more money. There was a sudden explosion of colour and things and objet D’arts began to appear. In order to gain access to luxury and class one could just go out and charge it. What contributed to this shift? India opened up to the world. The liberalization process brought more than high economic growth rates. It showed the people what was possible. In the process, it has altered mindsets. The IT revolution, and the consequent demand for Indian brainpower, has created a whole new breed of wealthy global Indians. At the other end, an increasingly open economy has created new b

North and South Poles

Humans need fresh water. We use it for drinking, for washing and to water our plants. Industries need it to power the chemical reactions that produce our modern lives.Even if more than 60% of the Earth's surface is covered in water, this is salt water which is not adept for the purposes we listed above. Of the freshwater in the surface, a vast majority of it is locked in ice caps at the North and South Poles.Moreover, human activity has also slowly contributed to the degradation of surface freshwater sources such as rivers and lakes. Because of this, groundwater is slowly becoming an important source of freshwater for daily use.The search for aquifers would need to draw on some geological concepts. First, aquifers would need a source of groundwater. This groundwater usually comes from rainfall meaning that areas with higher amounts of rainfall are much more likely to have aquifers than areas which don't have as much rain.Some aquifers may be found in areas which do not have much rain . The water in these aquifers are prehistoric water which came from the previous ice age.While useful, these aquifers are not good sources as the water in the water table is not anymore replenished. Second, aquifers rely on th existence of semi porous rocks to store water. Knowledge of the composition of the rock in an area will help identify possible aquifers if the kind of semi porous rock needed for aquifer formation is found.Lastly, I'd also prioritize valleys and plains over hills and mountains. Specifically, I will choose low lying areas near open bodies of water as these areas would have more accessible ground water as the surface of the ground is not very far from the water table.Incidentally, I would avoid areas near the sea as the groundwater in these places are suspect for saltwater intrusion. Also, I'd be wary of human activity in the area as the aquifer may be located in an area such as a former landfill, chemical disposal, or city. These things may contaminate the grou ndwater and make it unsafe for drinking.BibliographyThompson, G.. & Turk, J. (2007) Earth Science and the Environment 4th edition. New York: Thomson Brooks Cole

The Call of “Bartleby the Scrivener” and “Young Goodman...

Authors truly have endless opportunities as far as creating effects is concerned. They can create effects by what they say and they also can create effects by what they do not say, or what their characters do not do. In 19th century American literature, we see the use of the latter tool in â€Å"Bartleby the Scrivener† and â€Å"Young Goodman Brown†, where authors do not give the full information about their characters and events to create the desired effects. In Herman Melville’s â€Å"Bartleby the Scrivener†, the enigmatic title character â€Å"prefers not to† do things. On the other hand, in Nathaniel Hawthorne’s â€Å"Young Goodman Brown†, the lead character appears to be affected by his own inability to discern the truth and thus becomes a character that†¦show more content†¦He never finds any proof of evilness in his wife or the respected people around him, but he still chooses to be doubtful. The subtle message that the story gives is that â€Å"doubt† is the culprit and men are at fault for succumbing to it. Doubting does not make Brown’s life any better. He never trusted anybody and he were not even deceived by anybody. So the story shows that by having faith, he could have changed his life. He could have lived much more happily. In both â€Å"Bartleby the Scrivener† and â€Å"Young Goodman Brown†, we find themes and characteristics of â€Å"Dark Romanticism†. They represent characters who do not completely know what the most right thing to do is. But what both these works do is create an urge in the reader to wish for perfection. These two stories are more like bridges to transcendentalism. Even though the dark romanticism period in the New England led by Edgar Allan Poe, Nathaniel Hawthorne, Herman Melville and Emily Dickinson did not fully embrace transcendentalism, these two stories particularly leave the reader wanting and pondering more. The human mind wo rks in a complex way and it has to be prepared for certain things to emerge. These two stories serve as a mirror that will help us to look within us for something more divine, that will help us find a greater understanding of what we ought to do. In both â€Å"Young Goodman Brown† and â€Å"Bartleby the Scrivener† the

The Success Of New Managers - 1239 Words

Gain experience. New managers tended to strictly follow rules, because that is how they succeeded as nurses and doctors. However, this was not ideal behavior for a manager. It was precisely their ability to apply their expertise in unique ways to unique situations that brought the most value to their work (Cathcart Greenspan, 2013). Andron stated this another way, â€Å"strictly-regulated organizational cultures will never be creative and innovative, thus, companies nurturing such organizational cultures might not successfully adapt their operations to the dynamic and flexible profile of the modern organizations aiming to success† (2013, p. 189). Instead, the best decisions managers made were based on merging the rules with the wisdom of†¦show more content†¦Instead, managers needed to learn how to take risks, how to think beyond the rules, and how to use their expertise as a platform for innovation. Successful managers learned from failures, examined the reasons, and adjusted for the future (Andonovic et al., 2015). Although practical wisdom develops via experience over time, the learning time can be decreased through exposure to other leaders’ experiences. In other words, new leaders benefitted from hearing stories from existing leaders. Specifically they improved themselves after hearing examples of how other leaders leveraged their experience to handle challenging situations, including working outside the rules (Cathcart Greenspan, 2013). Hearing that this behavior was not only acceptable but desired, and hearing this information at the beginning of their health care leadership careers, could help new managers apply their own practical wisdom sooner. This concept was central in the book Influencer. The New Science of Leading Change which, among other factors, touted the power of storytelling to create change (Grenny, Patterson, Maxfield, McMillan, Switzler, 2013). Maintain expertise in the field. The conventional wisdom in business management was that a good manager can manage any team, that managers did not need to know

Jack the Ripper Essay - 918 Words

Jack the Ripper is one of the most well-known serial killers of the ages. Although everyone knows the name, â€Å"Jack the Ripper,† nobody really knows of his true identity. When the murder victims were found the press and the detectives could never put a name with the crime. Jack the Ripper is a mythic figure comparable with Frankenstein and Dracula. The Rippers first three murdered whores, in 1888, were believed to be by the same person. These murdered victims all seemed to occur around the Parish Church of Saint Mary, also called â€Å"the White Chapel.† (Fido†¦1) â€Å"Jack the Ripper,† was the name given to an unidentified serial killer in the White Chapel district of London in 1888. The name came from a letter left at the crime scene, written by†¦show more content†¦Newspaper coverage and widespread, enduring coverage of the Jack the Ripper case were strongly enforced. Even with all the coverage investigators could not connect anyone with the murders. In 1888, over a time period of 10 weeks, Jack the Ripper walked the streets of East End. This is where he encountered and murdered several prostitutes between the hours of midnight and dawn. The victims’ bodies were thrown around like rag-dolls, laid out, cut throats, and their abdomens had been ripped open. This way of murder was sought to be very repetitive, giving the Ripper an almost instant notification sign. Nobody knows the exact number of women that were killed by Jack the Ripper. Though the investigators believe there were only five victims. Even with the investigators analysis, through the weeding process it is proven that there were only four victims of murder by Jack. (Evans†¦ 21) It was decided that the local police of the White Chapel area were not capable of catching Jack the Ripper alone. For this reason they got the assistance of the Central Office at Scotland Yard, also known as the CID. The CID was a top investigation agency that would help th e patrol officers of the White Chapel district to solve the case. (Evans†¦ 21) Jack’s killing field, â€Å"the heart of the Eastland,† was mainly the White Chapel and Spital fields area, this was an area of only one square mile. White Chapel was mainly womenShow MoreRelatedEssay Jack the Ripper1209 Words   |  5 Pages â€Å"Jack the Ripper† Jack the Ripper was a notorious serial killer, whom some believe never even existed at all. From August to November 1888, Jack the Ripper terrorized the East End of London by being responsible for the death and mutilation of at least seven female prostitutes. The destitute East End is also known as the White Chapel district of London, England. A few of the prostitutes were targeted as they were leaving brothels in and around the White Chapel district. Jack the Ripper seemedRead MoreJack the Ripper Essay2373 Words   |  10 PagesJack the Ripper Source Related In August 1888 a killer who became known as Jack the Ripper committed the first of a sequence of murders. To this day the description of the killer remains a mystery. A mad person who is violent and dangerous who emerge to kill without warning and with no guilt, horribly killed five women in the EastRead MoreThe Mystery Of Jack The Ripper2600 Words   |  11 PagesNobody could ever put a face to the so known, â€Å"Jack the Ripper†. Beginning in 1891 and finally evolving in 1891, ten murders took place in the area of London known as the East End. They weren’t randomly chosen either they all were street prostitutes. As well as a case that they were trying to correlate the same murderer with, so it was included in the file. The â€Å"Pinchin Street torso† , but it had no association with the other murders. In this case they had discovered a female torso which had beenRead MoreSerial Killers : Jack The Ripper1546 Words   |  7 Pagescase that sticks out from the others and because of this many do remember. The case, almost as old as modern policing itself, is simply remembered by name coined for the killer, Jack the Ripper. What makes Jack the Ripper such a mystery is the fact that he was never caught. The five murders carried out by Jack the Ripper were located at Whitechapel. Whitechapel is a small town in London which was stricken with poverty. Families lived in very small single room houses. These houses were cramped withRead MoreJack the Ripper and H.H. Holmes1279 Words   |  5 Pageswondered what happened to Jack the Ripper? Did he actually get away with it and die free, or was he arrested for different misdemeanors? It is possible that he had a connection to another well-known murderer, H.H. Holmes, but not just any connection. By looking at The Devil in the White City, we can see that there are things about murderer H.H. Holmes that are very similar to Jack the Ripper. This could mean that we finally have an answer to the mystery: who was Jack the Ripper? Let us begin with HolmesRead More Jack the Ripper Essay1777 Words   |  8 Pages Jack the Ripper was one of the most famous and renowned killers in history. Even though he was not the first serial killer, he was the first killer to strike on a metropolis setting. Jack the Ripper was in his prime at a time when the media had a strong control over society and society as a whole was becoming much more literate. Jack started his killing campaign at a time of political controversy between the liberals and social reformers along with the Irish Home rule partisans. The reports ofRead MoreThe Legend Of Jack The Ripper1841 Words   |  8 Pagesperiod and mothers of small families had to prostitutes themselves in order to provide meals for their families. Between August and November of 1888, a notorious murderer rose to the surface, slaughtering at least five women escorts. The legend of Jack the Ripper is one of the most famous, yet unsolved mysteries of English crime. I. Suspected Murder Victims August 31, 1888, was the first killing, Mary Ann Nichols was found dead on the side of a street at four o’clock in the morning. She had been deadRead More Jack the Ripper Essay1224 Words   |  5 Pages Jack the Ripper terrorized the streets of London of unknown reasons. With his ability to disappear he was impossible to track, therefore making him one of the most interesting and clever criminals known to man. In 1888, five prostitutes were brutally murdered within a tiny area of the East End of London. The killings rapidly occurred over an 11- week period but they have both haunted and fascinated people for over a hundred years. (Jakubowski 16) There is no reason to believe that the victimsRead More Jack The Ripper Essay923 Words   |  4 Pages Jack The Ripper In August 1888, the first of a series of murders was committed by a killer who became known as Jack the Ripper. To this day the identity of the killer remains a mystery. Five women were brutally killed in the East End of London, by a maniac who appeared to kill without warning and with no remorse. 1)What can you learn from Source A? Source A tells us that the two murders were aimed directly at the poorest people in East End at the time, and usuallyRead MoreInvestigation of Jack the Ripper Essays1436 Words   |  6 PagesInvestigation of Jack the Ripper Jack the ripper was an unknown serial killer, he kept his true identity a secret from the world. Many people today see Jack the Ripper as a mystery which will never be solved. People have tried for many years to find out the mystery of Jack the Ripper but can not and will not succeed. The fact that no one knows the identity of him keeps the mystery of the unknown killer alive. It will stay a mystery forever, all we know is that he was

Kindred the novel free essay sample

Regina Tyler History 101 November 27,2013 In the novel Kindred Butler confronts us with differences of black and white and past and present. All of the issues in Kindred are derived from issues of black and white. Danas race and literacy is what defines her in the 1800s in Maryland and in 1976 in California. As a reader Im yanked between past and present as well as the characters Dana and Kevin. Dana and her husband are forced to experience slavery in Maryland and their home in California seems far gone. We are all affected by the legacy of slavery in one way or another, whether we know it or not. Whites and blacks are affected by the past and present types of racism. In some way we are all connected to slavery and Dana finds that out when she is taken back to the 1800s. The past stereotypes of blacks in the 1800s are still imbedded in our thoughts a hundred years later. We will write a custom essay sample on Kindred the novel or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Race was a key motif in the novel, which was expected since the novel is about slavery. Dana was married toa white man named Kevin in 1976 then pulled into the 1800s where a black woman marrying a black man was unheard of. Danas intelligence made her experience in the 1800s different from other slaves. They couldnt understand how she was so intelligent since blacks were seen as inhumane and unintelligent. Race is what links Dana to the other slaves although they wanted to let her know that she was no different from them. Carrie rubbed Danas face to show her know that her skin color does not come off. The slaves on the Weylin plantation saw Dana as the house-nigger, handkerchief-head, and the female Uncle Tom. Her intellect and connection with Rufus is what made her seem as such. She was looked at as the house-nigger because she worked in the house cleaning and eaching Rufus and never on the field. Handkerchief-head is what the slaves called her because they didnt feel like she identified with them, but only identified with whites. The slaves didnt know her reason for being so close with the masters son or why she was so educated but what they did know was that she represented all those stereotypes. As a young boy Rufus was very powerless and compassionate. Even though he felt like his skin made him superior to blacks he still had friendships with black children Alice and Nigel. Upon the second meeting between Dana and Rufus which was the ire Dana tries to get Rufus to not see a difference between blacks and whites and to respect blacks the way he wanted them to respect him. Dana also learns that she is related to Rufus the second time they met. As Rufus gets older her inherits to role as a slave owner and his need for power takes over. With power comes the need for more power so he turns on his friends and abuses Alice and treats Nigel as an interior. Rutus tried to prove his power over Dana by conning ner to give up ner pen, write letters that he would never mail, and even burning her map. Slaves power was based on types of labor. Dana had little power despite the fact that she was a house- nigger and an educated black. House servants had far more power than the field workers. Rufus sent Dana to the field where she was whipped to prove a point. Intellect or the type of labor she did still couldnt stop her from being beat. Black and white women were inferior to all white men in the 1800s. In 1976 Dana faces issues with race and slavery before she was ever brought back to the past of the 1800s. In Danas time she worked but it was like slavery because of the low paying no benefits Job also known as wage slavery. Some people never escape wage slavery but since Dana was literate and determined she was able to rise above it by writing stories. Just as in the 1800s being literate is what gave her a better life on the plantation because the Weylins recognized that she was educated and different from all the other blacks theyVe came across. Dana was punished for teaching the slaves how to read but it was okay for her to teach Rufus how to read as well as his children so they can have better lives. When Dana decided to marry Kevin who was a white man they both experienced racial prejudice from their own family. Kevin thought his sister would accept him marrying a black woman but to his surprise she did not approve. His sister says That she didnt want to meet you, wouldnt have you in her house-or me either if I married you. (Butler 110) Dana knew her aunt and uncle werent too fond of white people. Her aunt didnt like whites but she preferred light skinned blacks l think my aunt accepts the idea of marrying you because any children we have will be light. (Butler 1 1 1) The stereotype that light skinned blacks are less inferior to dark skinned blacks presents itself again. Just as in the 1800s in Maryland the lighter blacks were the house-niggers while the darker blacks worked the field. Danas aunt felt as if the children would have more opportunities because they would be light. Despite how others felt about their relationship they still decided to get married. The past and present affected both Kevin and Dana, even though Kevin was white he still came across difficulties coping with the harsh ways of slavery. And if I felt that way after spending only short periods in the past, what must Kevin be feeling after five years. His white skin aved him from much trouble I had faced, but still, he couldnt have had an easy time. (Butler 191) While Dana experienced what it was like to be a slave, Kevin saw what slaves had to go through to survive. Kevin saw things that Dana havent seen during the slavery period. Dana and Kevin endured brutalities of slave life yet they still felt like observers rather than participants because they struggled with accepting what wasnt normal for them. This womans master strung her up by her wrist and beat her until the baby came out of her- dropped onto the ground. (Butler 191) . There were slave masters far more worse than Tom Weylin When Kevin came back to California after five years he took a while to adjust to modern life. l feel like this is another stopover. Home didnt feel like home to him, he never got time to settle in his new apartment because he was only there for two days and he traveled so many places for so long that his home was never home. The Television and typewriter seemed all so new to him, everything was different and modern. Dana didnt feel like ner nome in Calitornia was really nome either. l nad been nome to 1 adnt felt that homelike. (Butler 191) Her home in Maryland has really become her present which made her California home seem like the past. The dichotomies of past and present in Kindred were artificial to the reader but not the characters Dana and Kevin. They were artificial because people dont Just Jump from past to present the way Dana did, theyre gradually put into that different era. Its impossible to live in both of those time eras because of the huge time difference. We might hear stories from our ancestors about the past but are never able to go back and live it ourselves. For Dana the experience from the past was useful because it helped her find out about her ancestors and also because she was able to see for herself the awful ways of slavery. She underestimated the intensity of slavery because she never lived in that time. The difference between black and white and past and present played a major part of Danas life. Dana losing her arm as she emerges for the last time from the past was very significant. Slaves suffered physical and emotional abuse because of their slave owners. Losing her arm shows that blacks in 1979 are removed from slavery but they till carry the hurt within them.

Running head theories of development 1 Essays (298 words)

Running head: theories of development 1 Theories of Development Jennifer LeMelle Everest University Online Professor Mathews General Psychology 2012-23 March 9 , 2015 THEORIES OF DEVELOPMENT 2 Erik Erikson proposed a lifespan model of development, taking in five stages up to the age of 18 years and three further stages beyond, well into adulthood. Erik Erikson maintained that personality develops in a predetermined order, and builds upon each previous stage. This is called the epigenist principle. Generativity vs. Stagnation , stage seven we establish our careers, settle down within a relationship, begin our own families and develop a sense of being a part of the bigger picture. S tage seven has been my biggest challenge in relation to establishing my career. I worked in the commercial printing industry for 18 years and due to slowing economy the company I thought I would retire from was forced to close their doors. In hopes of establishing my career, I am taking the necessary college courses and focused on getting my degree . As I continue through my lifespan I will give back to society through the following three goals. First goal is by setting high standards in raising my children . Second goal is b eing focused, determined and productive at work. Third goal is becoming involved in community activities and organizations. Through focus, determination and my faith in God I will fulfill each of these goals . My p s yc h ology course has provided me the insight, incentive and dr ive needed to complete each of my goals with the feeling of pride and success. . THEORIES OF DEVELOPMENT 3 Reference: Nevid, J. S. (2013). Psychology: Concepts and applications (4th ed.). Belmont, CA: Wadsworth, Cengage Learning.