Coronavirus and fears around the dreaded disease have shaken the foundations of the global and the Indian luxury industry to the core. At a time when survival, sustainability, and protection of the economy and jobs remains the biggest of the concerns, are people going to indulge themselves in luxury? Would the restrictions on the movement of the global traveler and squeeze on the earnings of businesses and high net-worth individuals (HNIs) and ultra HNIs dampen the demand for luxury goods in India? Will an anxious and nervous Indian plan and look at purchasing as freely as s/he was doing till just a few months back when it came to buying of luxury cars, watches, jewellery, perfumes, fashion apparels and accessories?
Online Leadership Conclave on The Big Luxury Squeeze in the Times of COVID-19
About the programme
Agenda
Fireside Chat with Martin Schwenk, MD and CEO of Mercedes-Benz India
Moderator: Mr. Pankaj Doval
- Effect of COVID-19 on the absolute volumes of the luxury car market. Would the demand reduce sharply?
- Effect on retail expansion and product launches
- Participant questions
Fireside Chat with Darshan Mehta, President and CEO of Reliance Brands
Moderator: Mr. Pankaj Doval- Current sentiments of people affecting the growth of luxury market in India
- Outlook on the brand's further expansion and investments
- Participant questions
Fireside Chat with Charles Frump, Managing Director, Volvo Auto India
Moderator: Mr. Pankaj Doval- Effect of pandemic on a luxury brand making a space for itself in India
- Special measures required to insulate operations, retailers and overall business from COVID-19 effects
- Participant questions
Experts
Martin joined Daimler in 1992 through the Mercedes-Benz Trainee Program and has been with the Group ever since.
He joined Mercedes-Benz India on November 1, 2018 as MD and CEO. He holds a degree in Engineering from the University of Stuttgart and has pursued additional courses in finance and business management.
He has over 25 years of experience in the German and international operations of Mercedes-Benz. He has held various important positions in finance and controlling in a varied set of markets, including Germany, South Africa, Austria and the United States.
In September 2015, Martin joined Beijing Mercedes-Benz Sales Service Co. Ltd. as Chief Financial Officer.
Darshan is an apparel industry veteran who leads the premium and luxury retail push for Reliance Industries, one of India's largest and hgihly-diversified business group. Reliance Brands is the largest player in the premium to luxury fashion and lifestyle space in India, having partnered with over 50 brands including as Burberry, Ermenegildo Zegna, Giorgio Armani, Gas, Bottega Veneta, Tumi, Tiffany & Co., Hugo Boss, Canali, Jimmy Choo, and Salvatore Ferragamo. Mehta is a qualified chartered accountant and a cost & works accountant. After a stint with Price Waterhouse, Mumbai, he spent the early years of his career in advertising. He was the president of Arvind Brands between 2001 and 2007, and has been leading Reliance Brands since 2008.
Charles has worked in the automotive space in different markets and dynamics, and came to India with a rich experience of over 17 years.
A Volvo veteran, having spent over 11 years with the company, he started his journey with Volvo in 2009. His previous stint with the group was in Sweden where he worked as a Senior Director within the Marketing function.
He has worked in various markets including Japan, China, the US, and Sweden.
Mr Pankaj Doval is a Senior Editor with The Times of India, and leads the coverage and efforts on consumer sectors such as automobiles, telecom and electronics. He also writes extensively on policy matters in areas like telecom, information technology and corporate affairs.
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