New rules may strip shelves bare of imported luxury shoes
Live MintNew Delhi: Do you collect luxury leather, suede or satin shoes or are you a big sneakerhead? Shelves at luxury shoe boutiques across India may turn sparse in the coming weeks as India’s mandatory licensing regulations that kicked in August are increasing costs and delaying stock arrivals. Annual sales of luxury shoes range between 20,000 to 50,000 pairs or even fewer and the BIS process requires the testing equipment to be sent to European and other luxury company factories, followed by on-site inspections from India's BIS certification officers. “While the BIS initiative is a great step toward promoting 'India Made' products and self-reliance, it would have been better to first offer subsidized training for international luxury brands and help educate local factories, assembly units, and partners before enforcing new standards," Kapoor said. “A lot of luxury companies made their representations to the government to remove luxury shoes as a category from going through a BIS certification but the government indicated that the rule applies to all including domestic companies," he said.
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