Year 2016 has not been the best for business all around. The luxury industry has also felt its after-effects, thanks to a host of measures to regulate the industry, and wavering consumer demand in the face of volatile economic situations. Here are a few industry experts and lifestyle gurus looking back upon the past year in food, style, fashion, automobiles and luxury timepieces to analyse what has changed, and what remains the same.

Chef Manu Chandra

It has been a dull year for business so far, a correction year. You can keep inflating supply, but the demand doesn’t change, and given how expensive rents have been, there’s a lot of debt in the market. The increased competition has led to a rise in places with a lot of thought and integrity, such as The Bombay Canteen in Mumbai, and The Tasting Lab in Bengaluru.

The farm-to-table concept has gained popularity this year, and there has been an indigenous ingredient approach to dishes on the menu. Even bar spaces are allowing for a more regional approach. Permit Room, also in Bengaluru, started by the owners of Toit, the legendary pub, has their own take on the city’s cuisine. Even if you look at Delhi, there is more diversity in cuisines from around India than ever before − from Naga, North Kerala, Bihari, Bengali − the market has an increased awareness as well as accessibility, creating different flavour profiles for people. There is a prominence given to pan Asian food as well, with places such as Xian and Mamagoto encouraging bold, spicy, complex dishes that Indians love and relate to.

With the growth of apps such as Swiggy, there is better access to good food at home. Another encouraging trend has been the growing number of good places in Tier 2 cities.

Chef Manu Chandra is a chef partner at Toast & Tonic, The Fatty Bao and Monkey Bar, and executive chef at Olive Beach, Delhi

Yashovardhan Saboo

The industry is going through a transition phase, currently. It is not possible for anyone to purchase a luxury watch above ₹50,000 without giving their PAN number, and that has affected the industry in more ways than immediately apparent. Secondly, with demonetisation, demand for luxury timepieces has fallen severely. This season has also seen the growing popularity of smart watches. Sales are down by 20 per cent, to 50 per cent. This has further been affected by demonetisation. So this is again, a huge correction year for all watch brands.

One of the more popular launches last year was the 5th Favre Leuba Raider Harpoon, a historic watch. The brand was popular in India till 30-40 years ago, then it suffered a period of silence, and has re-entered the market again. Smart watches have not taken over tourbillions as one expected them to. What has become popular in its place are hybrid watches, with wearables steadily gaining ground in the price point below $500.

While it has been a bad year for high-end luxury, accessible luxury is doing well, growing at 12 per cent this year. The Beatles collection by Raymond Weil was one of the bigger draws this year, while Omega’s new range has also made a big splash, as has the Shelby Cobra collection by Baume & Mercier.

Yashovardhan Saboo is the founder and CEO of Ethos watch boutiques

Homarzd Sorabjee Luxury car makers have been stung by the ban in Delhi on diesel cars above two-litre and though the ban has been lifted, it has made luxury carmakers worried about a reintroduction of the ban with deteriorating fuel quality. Hence, all luxury carmakers are adding petrol variants to their existing model line-up as insurance.

More hybrid luxury cars are expected next year, and the big news for 2017 will be the launch of Lexus, the luxury car brand of Toyota.

Homarzd Sorabjee is the editor of Autocar India

Pernia Qureshi The ’90s made a comeback this year. From Rihanna to Deepika Padukone, every girl was sporting cold shoulders and choker trend. The trend took all retailers by storm with off-shoulder pieces appearing everywhere. Whether you’re boho/hippie, classic, feminine/flirty, or even edgy, there’s an off-shoulder option that works for you.

Indian designers didn’t shy away from this majestic movement and ethnic variations were seen on every Indian runway. Manish Malhotra, SVA, Payal Singhal, Masaba are amongst a few designers who beautifully pulled off this trend. Outhouse and Valliyan took neckwear to another level with their must-have chokers.

Pernia Qureshi is a fashion entrepreneur and founder of perniaspopupshop.com

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