With Gucci selling virtual sneakers for $12, and brands from Balenciaga to Burberry becoming NFT-friendly, the world of fashion is changing. Fashion non-fungible tokens or NFTs are unique jpg files with an authenticity certificate, and just like fine art, they are collectibles.
Recently, Manish Malhotra launched the first designer NFTs in India on the WazirX NFT Marketplace, through the FDCI X Lakmé Fashion Week. None of the five NFTs is wearable, of course.
In an interview with Moneycontrol, Bollywood’s favourite designer, Manish Malhotra, talked about his NFTs, his ‘work family’ going from 50 to 500 over the last three decades, the pandemic, his upcoming directorial debut and more. Excerpts:
You have created five NFTs which are available on the WazirX NFT Marketplace in collaboration with FDCI X Lakme Fashion Week. Tell us all about them.
For me, change is the only constant. I believe in staying relevant with the times, whether that be fashion or technology. So when the opportunity to generate NFTs came to us, I was all game for it.
The five NFTs that we decided to start with were a conscious decision of an iconic one, a crowd favourite, a vintage film shot, one which celebrates Indian craft and a candid moment. All of these are close to my heart.
This is a game-changer in the fashion business. What made you take this decision?
It’s a new stream and platform for not just artists who create physical products but are the new-age artists, designers, illustrators and digital content creators. As a brand, we have always believed in constantly staying relevant to our audience, and this seemed like the next natural to take.
The fashion NFT space is fairly untapped in India, and has great potential to grow if brands engage with the growing crypto community. How will this affect the brand Manish Malhotra?
It opens up new avenues for our digital audience. It is not only about keeping our audience engaged but explores a new branch to showcase the brand’s art and expression.
The last 18 months have been hard on the fashion industry. Has the pandemic changed the industry? How has it been for you?
Not just the fashion industry but for the whole world it has been a really hard phase... Now that everything is slowly getting back to normal, we again look forward to fashion shows, red carpets, movies and the magnificent weddings that our Indian fashion industry is known for. For now, we just need to think positively and hope for everyone’s well-being.
I used this time to reflect on the health and well-being of not just me, but of all my loved ones. The pandemic has changed a lot of things in the world and the fashion industry is no different. The pandemic saw the arrivals of lounge sets and comfort dressing. Minimalistic is the route most people are taking today.
What has been the silver lining of the pandemic for you?
I got a lot of time to catch up on my reading. I read books on design and the old Indian crafts. I also went through all my previous work. Some of the craft I’m bringing back and some new creations that I’ve worked on.
I launched my collection ‘Ruhaaniyat’ and ‘Nooraniyat’ soon after the lockdown ended. These were the work of my ideas during that time. The silver lining has been that after years of non-stop working, I got to spend a lot of quality time with my mother.
You have worked in over 100 films as costume designer. Tell us about your favourite Bollywood muses and what makes them stand apart?
I don’t have one favourite. Everyone that I work with, I share an individual bond with, which is different from the other. So, it’s absolutely unfair for me to choose one. I love all my showstoppers, as they come with their individual personalities that makes them special in their own way.
What makes you passionate about your work?
Even after so many years of the brand since its inception, I still wake up with the same enthusiasm and love for what I do. Every department, every client and every piece that I design holds a special place in my heart. I started it when we were a team of 50 people and today my work family consists of over 500 people. How can I not be passionate about that? This is my life.
Tell us about your production house, and your directorial debut with Dharma Productions.
The Manish Malhotra world has become an entity in itself, with all the portfolios such as jewellery, home, beauty. And all of these verticals are doing really well, and it is humbling to see the response to them. This year, we will be announcing many developments on all these portfolios and it will be all about the consolidation of these verticals.
The brand is constantly evolving and adapting to newer and modern ways of outreach and engagement with our audience, so we do have a few things in the pipeline which will be released when the time is right.
Other than that, I am looking forward to my directorial venture. Manish Malhotra Productions is a vertical that I’m looking forward to, as it entwines both my loves - which are fashion and films - and this will mean coming full circle in my career, which makes me really happy.
The festive season is upon us with Navratri, Durga Puja, Dussehra and Diwali. Please give us your top 5 festive fashion tips.
1. Plan your outfits in time
2. Feel free to experiment with a new look.
3. Be comfortable in what you wear
4. Try out new colours this season, something that you wouldn’t do otherwise.
5. Enjoy! It’s been a while.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
