Luxury Law Alliance Member’s
Submitted by-Subhash Bhutoria
Indian law firm Krida Legal is a boutique firm with expertise in sports, gaming, art and fashion law. The intellectual property rights, art & luxury law practice is headed up by Subhash Bhutoria, who explains more about the firm.
How important is the luxury sector to the firm?
Subhash Bhutoria: The luxury sector is quintessential for our firm as our niche is law relating to sports, gaming, art and fashion. Our lawyers, attorneys and consultants have expertise in various laws and procedure relating to these business areas and our reputation is largely dependent on the luxury sector.
Has the firm been involved in any transactions/cases with luxury companies?
SB: Amongst others, we advise a leading gaming company which is establishing a luxury casino in Asia. We act as trade mark attorneys for a UK based luxury shoe brand in India and we are also working with domestic and international brands on sustainable fashion and luxury. We are also advising on a number of commercial transactions for leading Indian fashion brands.
Describe the local luxury sector, trends, challenges and opportunities?
SB: India is a progressive economy with a significant appetite for luxury segments. While almost all global fashion brands are either present or well known in India, other luxuries, such as owning a yacht or a mansion, have not yet seen the light of day. India has a rich history of kings and kingdoms and a lengthy coastal line, all of which can provide immense opportunities for the luxury sector.
Current trends in the sector include luxury stays, art business, haute couture, luxury pret and high-end electronics. Some of the challenges involve counterfeiting, awareness in Tier 2 and 3 cities/towns, direct interaction/market presence of luxury brands/businesses and environmental issues. The are opportunities to be found in hospitality (including organizing luxury weddings and functions), haute couture, athleisure, yachts, mansions and sustainable fashion involving Indian handicrafts, handlooms and GIs.
If possible, list any luxury companies which the firm regularly deals with.
SB: We have worked with many luxury companies, including Silver Heritage Group, Clarks International, AMPM Ankur Modi Priyanka Modi, Rohit Gandhi Rahul Khanna, Shilpa Shetty Kundra (Bollywood Actor, Health and Wellness brand), Viaan Industries (Movie production, Poker league etc.), Nature Morte, Palette Art, Anant Art and Saahra Sustain (sustainable fashion brand).
What should luxury legal departments look out for in the next 18 months?
SB:Counterfeiting has been a grave issue for several years now and the legal teams must draw white paper and present them to crucial jurisdictions such as China, Bangladesh and Asia Pac, for strict enforcement or strict liability/sanction on the facilitating State (Country). Environment protection is also taken seriously, even in India and hence the companies should ensure compliances.
Some basic details about the firm - size, turnover, areas of expertise or experts in the firm relevant to luxury?
SB: We are a legal boutique, having a niche in law relating to sports, gaming, art and fashion. In addition to The Luxury Law Alliance, we are also members of the UK India Business Council, All India Council of Sports, Federation of Indian Chambers of Commerce and Industry to name a few. The firm and practice is managed and operated by three partners, Vidushpat Singhania (Sports & Gaming), Subhash Bhutoria (IPR, art and luxury laws) and Ashish Kothari (Dispute Resolution). Our team comprises of litigators, attorneys, tax consultants, company secretaries and art consultants. Among others there are 12 lawyers with the firm. We work closely with sports and gaming firms, popular sports persons, leading fashion labels and art galleries.