Regarding the venue, Chopra said Lakme wanted that the event should rotate between Mumbai and Delhi which was something the FDCI were not agreeable to. Chopra drew the parallel of the Australia Fashion Week where Mercedes is the sponsor and the venues shift between Sydney and Melbourne. In the case of a biannual event, such an arrangement gave a much better brand value than having only one city hosting, Chopra asserted.

While Chopra would not offer any details as to what Lakme was earlier paying for a three-year title sponsorship, industry sources put the figure at between Rs 120 million and Rs 150 million. What was being asked for a new three-year deal was something in the region of Rs 400 million, the sources aver. It could of course be argued that while the earlier dispensation involved only three events, the new one entailed organising six events, therefore the markup in title sponsorship costing.

That is an argument that Lakme has clearly chosen to give the heave-ho to and instead teamed up with IMG to launch its own Fashion Week. The five-day extravaganza will debut on 28 March 2006 at the National Centre for Performing Arts (NCPA) in Mumbai. The event will have 20 fashion shows spread over five days, wherein the participating designers will showcase their Prêt (ready-to-wear) and Diffusion lines.

Indian fashion designers will be invited to showcase their collections at the Lakme Fashion Week before national and international buyers and the media, which will include four representatives each from the US, European and Asia Pacific markets.

Chopra said, "Lakme has displayed a long standing and deep-rooted commitment towards development of the beauty and fashion industry in India. The event will be a platform that will not only showcase Indian talent before an international audience but also an opportunity to globalise Indian fashion. Both IMG and Lakme have created history and set up milestones in formalising the business of fashion. With our knowledge and experience we are positive that this event will be a landmark in the same direction."

As an annual event, Lakme Fashion Week will become a long-term partner for Indian designers to help them grow their domestic and global business, thereby making them internationally recognised ambassadors of Indian fashion.

One clear advantage that Lakme and IMG will have here is that both organisations (along with the FDCI) have been associated with the event from its inception, so they will not be seen as strangers to the game. What would of course be worth watching is whether it becomes a Mumbai designer coterie versus a Delhi designer lobby that will patronise the rival events.