Since 2001 when India first said hello to them, fashion weeks have undergone a huge change. Until the economic slowdown, the interest among foreign buyers, including those of niche boutiques like Maria Luisa and MC2, was on the nascent industry here. The reason was the appeal of designers such as Tarun Tahiliani, Rohit Bal, Anamika Khanna, Sabyasachi Mukherjee and Ashish Soni. The financial crisis, however, means less purchasing power for the buying houses. So, it is the domestic industry that is conducting bulk business.

At the recent WIFW, there were 110 designers on board. But of the 175 registered buyers in what is supposedly one of the biggest fashion trade events in the country, 100 were domestic. “The international market is being cautious at the moment, and it is going to be this way for a while now. Besides, it’s too late for them to buy anyway, since the week was held rather late this year,” says Kevin Nigli of the label Abraham and Thakore. “On the other hand, the purchasing power of the domestic market is still solvent. So that’s where the business is.” Abraham and Thakore registered a 6 per cent increase in domestic sales at WIFW as compared to last year.

Sunil Sethi, president, Fashion Design Council of India, which organises the WIFW, says one has to wait out the hard times and cannot totally dismiss the impact of fashion weeks. “For any designer, showcasing at an event like the WIFW is the biggest branding exercise because there are many people following the event. It takes time to break into international markets anyhow. Buyers follow designers through several seasons before they pick them up. One must be prepared for the waiting time,” says Sethi.

However, in the changed financial scenario, with few foreign buyers queuing up, the LFW has decided to make significant alterations for the coming season. “Having fashion weeks centred on what a handful of trophy international buyers wants makes no sense at all. Also, in India, demarcations like autumn-winter and spring-summer don’t work. We are going to host fashion weeks around the festive seasons in India, when buying is at a premium, and when designers can immediately deliver their collections to the store,” says Anil Chopra, advisor to the Lakme Fashion Week.