CCI NG 3.7 Product: ETMumbaiBS PubDate: 15-11-2017 Zone: BrandEquity Edition: 1 Page: BEFP User: kailash.korade Time: 11-11-2017 01:03 Color: CMYK THE WEDDING SPECIAL ISSUE Pg 1-3 THE ECONOMIC TIMES NOVEMBER 15-21, 2017 INSIDEBE THE BEST & WORST OF WEDDING BRANDS A CXO-curated list The Return of The Big Fat for destination weddings has grown lery designers and bridal wear bou- considerably, most of the payments tiques, the sense of optimism is all per- are now made online, families have vasive. Last year, says Anand Shahani increased their budgets and the mood in a lighter vein, even guests could ‘get now is ecstatic. “The mojo is back,” he away’ with giving less gifts because of says. “Band, baaja, baarat will be the lack of cash. The biggest positive Indian Wedding loud as ever,” he adds. for the industry, reckons co- THE WEDDING IS For Deepak Gupta, a busi- founder of wedding planning A year after DeMo, the achin Singhal can still rably acknowledged the impact of his nessman residing in north- por tal Wedmegood, is that it SPONSORED BY... vividly recount the hor- move on the wedding market when he west area of Rohini in Delhi, has bounced back. How ‘Influencers’ are getting brands season for indulgence rors of demonetisation said “Ghar mein shaadi hai…paise na- there’s no holding back According to a an to foot part of the wedding bill and spending like there’s on the wedding industry. hin hai.” the purse strings. “I have Assocham report, the Most of the weddings were Fast forward one year. planned to spend `2 crore on Indian wedding industry is no tomorrow is back with Srescheduled, the budget 3INGHAL THECOFOUNDERAND#%/OF my son’s wedding this month,” about `1,00,000 crore and is a bang.By Rajiv Singh was slashed by 50%-80%, wedding portal Bandbaajaa, reckons he claims. The fat weddings, growing at 25%-30% an- splurging on marriage functions be- things are back on track. Demand he lets on, were not only nually. The report pegged came a cardinal sin, and the jewellery about flaunting black money CASH BACK IN the estimated cost of a and designer wear industry was on life and an ostentatious show CIRCULATION wedding between `3 lakh support. The big fat Indian wedding got of wealth. “I am mak- and `8 crore. This sea- trimmed drastically. Even the Prime ing all payments & VENDORS son, contends Shahani, Minister in a speech in Japan memo- through cheques,” people are spending less he adds. “Last ACCEPTING on showing off and more THE BIG WEDDING year, weddings E-PAYMENTS, on experiences. So guest BRANDS OF BHARAT got killed due lists are shrinking, decor to unavailabil- MEANS THE is getting more person- ity of cash,” he alised, and the amount reckons. But $40 BILLION of spend on photography this season WEDDING IN- and travel is increasing. there are no DUSTRY HAS 4HE*IM#ORBETTPARKAND The regional brands that have such blips. Mussoorie are emerging emerged as the one-stop shop for Dhruv as smaller offbeat wedding wedding shopping Gurwara, chief A NEW LEASE destinations. On XX 3 operating officer OF LIFE Gurwara of Bridal Asia of Bridal Asia, believes that the industry the twitter the biggest exposition for always had an inherent resilience to index premium bridal finery, ap- survive any crisis. Take, for instance, parel and products in Asia, in 2008 when the Indian economy went too resonates the euphoric through a slowdown. In spite of the re- YOUTUBE feeling. There was never a lack of cession, the industry survived. The LEADERBOARD willingness to spend, he reckons. wedding industry, he lets on, is as much “The big fat Indian wedding is back about the status symbol as an opportu- with a bang!” he says. With cash back nity to catch up with family and friends. in circulation and vendors getting used “Demonetisation was a temporary to online payment modes, the present phase,” he says. He believes weddings in season is giving a new lease of India have traditionally been grand and life to an estimated $40 billion will become grander yet in the future. wedding industry. #LEARLY THISWEDDINGSEASON ITSNOT How NOT To F rom wedding planners band baj gaya of the negative kind. handle A Brand to venue owners to jewel- [email protected] Crisis And How BORA ANIRBAN ILLUSTRATION: To Do It Right On XX 4 SIDETAKE A Wedding Wonderland Mujhse Shaadi Karoge? The Wedding Gallery, a 20,000sq ft space Interestingly, the building, lections from leading brands in the heart of London is being billed as “the Number One Marylebone including Roja Dove and Jo new epicentre of global wedding planning” used to be a church. Now the Malone. A hair, makeup and How is the world’s and the ultimate wedding retail destination. space has been converted beauty studio with treat- into a one-stop shop for all ments available for men largest matrimonial site wedding celebration needs. and women. Other levels convincing next gen At the world’s first exclusive include accessories, a wed- wedding department store, ding gift shop, a jewellery Indians to get married ? visitors are greeted by a Wedding Gallery department, florists, cake designers and Consultant who guides people through the stationers. At the library guests can look at store. Services start with an exclusive look the portfolios of venues and event suppli- BY AMIT BAPNA | MUMBAI at up and coming wedding trends created ers. A screening room showcases the work by the world’s leading event stylists; and go of renowned filmmakers and photogra- Historically, great Indian weddings all the way up to a large area where brides phers. There’s even a private members club can view gowns from the likes of Oscar de and tasting rooms, a bar and a number of were either made in heaven or in la Renta and Elie Saab. The Perfumery is private meeting rooms. In case one felt the "OLLYWOODBLOCKBUSTERS#LOSER where couples can discover signature col- posh setting is a tad low. to the ground, marriage partners HISTORICAL- were found via family contacts or LY, GREAT INDIAN a ubiquitous panditji-type middle- man who knew family-trees of all WEDDINGS WERE EI- clans and thus was a walking re- ternet access was then a quick pository on all eligible candidates. ubiquitous there as THER MADE IN HEAVEN exit once the NOT YOUR PARENT’S JEWELLER #ULTURALLY MATRIMONYWOULD was the demand for OR IN BOLLYWOOD outcome is seem an unlikely category to be matchmaking with- achieved. As How relatively new inf luenced by digital, unlike many in similar cohorts in BLOCKBUSTER Rakshit says, others. That was exactly what hap- the Indian diaspora. once the roka jewellery brands pened when Anupam Mittal, found- (formal alliance) are taking on the old er of Shaadi.com, hit upon the idea Shaadi Ke Baad happens we fall out of of an online matrimonial site. It was in 2011 that the India story the customer journey. The revenue school merchants started in full-earnest, with the fast model, in this case, largely depends who ruled the roost in From Sagai to Shaadi growth and adoption of the inter- on people opting for premium mem- /NEDAY INTHELATE S-ITTALWAS net. Today the matrimonial service berships. To add to the offerings, the trade at his father’s of fice in Mumbai and claims to have established itself as personalised membership plans ran into a family acquaintance. A the world’s No1 matchmaking site, have been launched: Select Shaadi few minutes into the conversation, backed by a successful business and VIP Shaadi. The USP: interme- BY RAVI BALAKRISHNAN it was clear the gent was a match- model. But then, it’s operating in a diated matchmaking through a ded- MUMBAI maker on a mission. Says Mittal, “I market which is undergoing huge icated relationship advisor along actually got interested in what he changes, culturally and socially. with complete discretion. These For modern jewellery brands, does rather than what he was doing The prospective consumer is inde- launches are to cater to a specific the threat is real and the enemy for me, started asking him ques- pendent, tech savvy and no longer segment of society who are less com- easily identified. It is the tradi- tions, and realised that the number looking at marriages the way pre- fortable directly reaching out to a tional family jeweller, with a of resumes of prospects he carried vious generations did. She prospective match, shares Rakshit. seemingly unrelenting hold on in his briefcase seemed to be refuses to be either the purse strings and perhaps very limiting.” Mittal, who Existing pas- directed by others Brand, Baaja and Ads more critically, the trust of was working in the US at sive paradigms of or hope for seren- love and arranged mar- families across India. Fundamentally, that time was heavily in- dipity to strike. Even as some of these tradi- fluenced by the consum- riage are being replaced by Says Gourav there’s a lot of dif- the concept of active planned tional jewellers embark on ac- slightly less ference between the more – with its re- last 20 months or so. Tanishq er digital wave there, marriage. Online matchmak- 2AKSHIT #%/ quiring a national footprint, opposed to the remarriage film and now. marriage commer- started a bespoke range called and believed that it was ing aligns perfectly with this Shaadi.com, brands of a more recent vin- idea after vis- We are a lot more prod- cial in 2013, for in- Rivah, a portmanteau word a matter of time before brave new world.