What did luxury powerhouse Louis Vuitton (LV) see in a (relatively) small Indian leather goods manufacturer? How did the French brand even think of setting up a factory—its first in Asia and one that will likely end up being its largest in the world—in Puducherry of all places? Why did the intensely private company buy a stake in Hidesign, an Indian company that began as a hobby in 1970s Auroville, India’s French hub?
Dilip Kapur, 60, president of Hidesign, the free spirit who began his life as an entrepreneur with Rs25,000 (for a sewing machine, some leather and a worker, all accommodated on a thatched shed on his roof) and who now has a Rs100 crore turnover, can’t answer these questions.
Detail therapy: Hidesign’s straps take as long to design as the rest of the bag, says Kapur. Illustration: Jayachandran / Mint
Most reports say LV has picked up 20% of Hidesign, but Kapur won’t confirm the percentage. LV’s Indian partner recently signed a confidentiality document.
Let’s make some educated guesses anyway.
If you were Louis Vuitton, looking to settle down in India after decades of flirting with the country’s affluent set, and you needed someone you could trust, someone in your area of business, a guaranteed good investment, someone with whom you could converse fluently in your language, Kapur’s would be a name that came to mind.
For one, Kapur is quality conscious. His Hidesign outlets sell nicely crafted, natural leather goods; I know because I’ve been buying their bags since the company opened its first Indian store in 2000 (before that, Kapur was mostly an exporter). Trendier consumers would say the designs are boring/predictable; I think it’s refreshing that a local brand focuses on quality and detailing rather than on imitating the latest global designs.
“You’re a typical customer,” Kapur says, over Sauvignon Blanc at Trident’s Tiffin in Mumbai (his knowledge of good wine has grown exponentially, thanks to his connoisseur French partners). “She studies a lot, reads a lot, travels a lot; like you, she’s very natural,” he says, pointing to my slightly crumpled cotton shirt and messy hair. I tell him I’ll wear a business suit to our next lunch appointment, and he informs me that he changed quickly from a T-shirt to a Just Cavalli navy shirt—purchased by his German wife Jacqueline—for our meeting.
Incidentally, Kapur swore off suits after he graduated from Phillips Academy, a private school in the US, but recently Jacqueline bought him one from Gianfranco Ferre for all those meetings he now has to attend.