Claudio Marenzi, admiral of Pitti Immagine, the Italian aggregation that organizes Pitti Uomo, the world’s bigger barter fair for men’s accouterment and accessories. Photo: Pradeep Gaur/Mint
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New Delhi: Claudio Marenzi is a acclaimed name in Italian fashion. The arch of Herno Ltd, a affluence aggregation founded by his ancestor Giuseppe in 1948, Claudio was called as the admiral of the employers’ affiliation of the Italian appearance industry, Sistema Moda Italia, in 2013. Last year, he was additionally called the admiral of Pitti Immagine, an Italian aggregation that organizes some of the world’s best important barter fairs, including Pitti Uomo—the world’s bigger belvedere for men’s accouterment and accessories.
Marenzi was in India on his beginning appointment to participate in The Affluence Symposium 2018 organized by The Affluence League, a not-for-profit foundation, affianced in branding India. In an account on the sidelines of the accident on Friday, Marenzi batten about appearance and luxury, and opportunities to appoint with India. Edited excerpts:
How do you anticipate appearance and affluence bisect anniversary other?
Fashion is bigger. Affluence comes aback the faculty of aesthetics meets fashion. It comes with exclusivity. And this acumen is actual bright in Italy. At the affiliation level, we administer aggregate from bolt to accessories. That comes beneath fashion. But aback you allocution about the shows organized by Pitti Immagine, it is a curation of the best absolute brands from beyond the apple that are accepted for their aesthetics and craftsmanship. That becomes luxury.
How important is India for the Italian appearance industry?
I anticipate there is a lot of abeyant in India for Italian brands, accustomed the fast advance of the Indian economy. It is my aboriginal appointment to India and in aloof a abbreviate cruise I accept accomplished that the country is accessible to accept what we accompany in agreement of craftsmanship. And this is because you yourself accept a affluent ancestry of affection craftsmanship.
I visited the DLF Emporio and Chanakya malls on Thursday and was afraid to see the cardinal of bodies there. I saw abounding men cutting this belong (bundis with mandarin collar), and this is an archetype of how you accept adopted article Western to accouterment your own sensibilities.
That is one aspect. The added aspect is that there is a lot of ambit for partnerships with bolt and accomplishment companies in India.
On the barter side, India is the eighth bigger exporter to Italy, accounting for appurtenances account €500 million. But as a bazaar for Italian goods, India is the 51st on the list, accounting for aloof about €45-50 million. So there is a huge barter gap and, therefore, a huge abeyant for Italian brands to abound here. But taxes are too steep.
You additionally accept to accept that the adolescent bearing is added affiliated and won’t booty no for an answer. If they appetite something, they will buy. If the artefact is too big-ticket in India, they will go to Europe or Dubai and buy it, and it is eventually a accident of acquirement for the Indian appearance industry.
Fashion is amid the best important exports from Italy. What do you anticipate makes Italian appearance aspirational? What is the cachet of Italian appearance today?
Fashion manufacturers accord about €96 billion to the Italian economy. We are the additional bigger accomplishment segment. We represent about 42% of the European appearance industry as a whole. To put that into perspective, Germany represents about 38% of the European automotive industry. That is the affectionate of ascendancy we have. We are bearing about 100% of the affluence appurtenances in appearance beyond the world. We are not alone bearing for the Italian brands but additionally for all the big French brands.
As to why, we are the accouchement of the Renaissance men. So there is a affluent history and attitude in agreement of not alone appearance but additionally architecture, design, aliment and innovation. And aback Apple War II, we accept additionally started developing altered regions beyond Italy for altered crafts.
How has Pitti Uomo acquired as a belvedere for men’s accouterment and accessories vis-à-vis appearance weeks in, say, Milan and Paris? What is the approaching of Pitti Uomo?
About 15 years ago, big men’s brands larboard Pitti. It fabricated us catechism the architecture and anticipate about the way forward. So what we accept done over the years is that we accept acquired from actuality aloof a fair. Today, Pitti is a assemblage of manufacturers, distributors and barter beyond the world. It is captivated alert a year and has acquired into a platform, bringing calm all the stakeholders to accept the bigger capacity of every business aspect and the bigger trends.
So you don’t go to Pitti aloof to see the articles anymore. You appointment to accept the trends and participate in the advancing chat about them. And we accept been acknowledged in accomplishing that. Pitti today attracts the who’s who of menswear and has become the aboriginal best for adolescent designers to advertise their admission collection.
What are the bigger trends in the apple of appearance and affluence today? What do you anticipate are the above active forces?
Personalization and bespoke are the bigger trends. The approaching of appearance is in compassionate the chump bigger and accepting to apperceive them personally. If you attending aback a few years, bodies acclimated to buy whatever brands produced. There was no barter of knowledge. That is alteration today. There is a greater focus on interaction. And adolescent millennials are the key to this about-face in focus. They are bigger affiliated and bigger informed. So there is a lot of barter happening. And this is actual important for the appearance industry to evolve.
Sustainability is addition above active force in the apple of appearance today.
What are the bigger threats to the all-around appearance industry?
The bigger claiming is sustainability. As an industry, appearance is the additional bigger polluter. So we accept to cut bottomward on decay generation. There is no added alternative. And we accept to appear out with stricter guidelines for some genitalia of the apple that are not apropos our sustainability efforts.
But do you anticipate appearance can accompanying be ambrosial and sustainable? Isn’t the appearance industry based on affairs added and arresting more?
It is a acceptable point. But the accumulation bazaar is not absolutely about addition or fashion. The accumulation bazaar is artful the affluence items, which are captivated by a assertive demography, and democratizing them for a beyond cardinal of people.
But at the aforementioned time, they are breeding ample amounts of decay because they are artlessly bearing in unrealistic numbers. Which is why I said the approaching of appearance is bespoke and exclusivity. Brands will eventually accomplish article appropriate for every distinct chump in the future.
But wouldn’t the industry compress if brands aloof alpha authoritative bespoke?
That could be the case. But you know, the appearance industry as a accomplished is bearing about 30 billion pieces every year. In bristles years, at the accepted pace, we will aftermath bristles times the cardinal of pieces that we are authoritative today.
I will accord you addition example. Wool accounts for alone 4% of the appearance actual globally but China wants to bifold it in bristles years. If you anticipate about it, it agency acceleration the cardinal of sheep in the apple in bristles years.
So there is a charge to abate fast and move appear exclusivity and sustainability. It ability complete affecting but we are at war appropriate now with fast appearance and sustainability is the future.
What are your suggestions to the Indian appearance fraternity? How can they abound added and aggrandize globally?
What I accept accepted so far is that there is potential. Indians accept heritage, adroitness and quality. The assignment in advanced of Indian brands appropriate now is to accomplish the all-around chump accept Indian lifestyle, ancestry and craftsmanship. They accept to argue a man sitting in New York to abrasion a belong (half-jacket with the Mandarin collar).
That is the abutting step, to brainwash the apple about what Indian appearance is all about.
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