The Billionaire Club
A Business Standard Publication
INTRODUCTION



India Inc comes of age

Riding The Bull Wave
India's billionaires have made huge additions to their networth, thanks to the surging stock market

World Of Change
Bored of the same old names? Well, here are some new success stories that have stormed their way in

The Richest Indians
A ranking of 311 billionaires

Kaun Bana Crorepati?
86 new CEOs took home far fatter pay packages

Top Grossers
Definitive list of India Inc’s top earners

Big Leap Forward
NCAER’s study on why India can dream

The Other Billionaires
The interesting unlisted billionaires

Alphabetical Index & Methodology

 


STYLE MAKEOVERS

 

The Emperor’s New Clothes

Designers don’t want to touch them, claiming India Inc is already well dressed. But we got them to style some of our top billionaires by Kishore Singh & Abilasha Ojha.

Corporate India’s work uniform could well be the navy/grey/black Armani classic fit. But for a tie here or a shirt there, India’s billionaires are as cliched as Wall Street’s bankers, impeccably outfitted, but the more boring for their lack of experimentation.

Suit, navy blue with stripes
1
Suit, navy blue without stripes
1
Suits, grey
2
Suit, black
1
Blazers, navy blue
3
Trousers, grey
3
Trousers, grey
3
Bundgala, black
1
Shirts, white
6
Shirt, powder blue
1
Shirt, baby pink
1
(still in its original packing)
Ties, miscellaneous
2 doz
Socks, black
1 doz pairs

Raid their wardrobes and chances are this is what you’ll find:

Imagine then, if you will, Azim Premji or, for that matter, Mukesh Ambani, strolling across to their favourite haberdashery on Bond Street, to be outfitted, measured out and tut-tutted over (“Would you mind taking a deep breath and holding it, Sir?”), to return some weeks later for a fitting, and yet again for delivery of a custom-tailored suit.

Far simpler, really, to pick an Emporio Armani off the rack before signing a cheque en route to a meeting.

It does make for a limited choice though – an Armani is safe, a Hugo Boss (they might have it for mandatory sake in their wardrobe but would rather wear worsted than linen) the height of boldness, but the hand-stitched (somewhat crudely at that) lapel and hemming details that are the rage in the fashion world (and cost a pretty penny at that) would be impossibly out of place in the gentleman’s cupboard in India.

Strangely, designer India doesn’t interface too closely with corporate India. Ravi Bajaj might have young executives pick out his pinstriped suits, but the more seniority they claim on the ladder, the further they distance themselves from his style of ties – worn impossibly short.

The choice of colours, though, might distinguish them, but for most part the most you can expect are ice-candy colours (Sunil Mittal), stripes (Azim Premji), or daringly red (Kumaramanglam Birla , Naresh Goyal).

“I think we should let them be,” says designer Ranna Gill whose clients, not surprisingly, do not include our list of India’s top billionaires.

But then, it’s impossible to think of any of them actually giving a sitting to a designer. For most part, they’re rooted and down to earth (okay, as down to earth as you can be in an Armani jacket).

Raghavendra Rathore, whose line of dressing tends towards the austere, says these are not people who should be following the “flip-flops of fashion” anyway.

Imagine Shiv Nadar in a Rohit Bal outfit and you’ll know what he probably means.

Still, speak to designers and they’ll tell you that despite it “not being really necessary”, as in any other walk of life, individuality does count.

Therefore, Sunil Mittal’s lemon, pink and glacial blue ties have become his hallmark, just as Rahul Bajaj’s sartorial style (or lack of it) marks him out.

Bajaj found his perfect styling in the seventies when what passed for an apology by way of formalwear became the norm for a short while – the inelegant (and quite out of place in the board room) safari suit.

Azim PremjiAzim Premji

The dude in the IT business that’s crowded with more talent than you had thought was possible.

THE PREMJI LOOK: Full sleeve shirts, plain and stripes, understated ties, dark trousers, often wears jackets.

WHAT WE RECOMMEND: Azim Premji has the slimness and height to carry off a more casual look. His hair too calls for a trendier makeover of clothes. Therefore, we suggest short, fitted shirts with short sleeves, worn over his trousers (in khaki, beige and cream) – a Florida look for the workplace in keeping with the tenor of his work. Fitted club shirts (diagonal stripes in dark colours) are best for the evening. For formal meetings, Azim Premji should stick with Western suits (paired with thick striped shirts and solid colour ties) as Indian clothes will not suit him.

Mukesh AmbaniMukesh Ambani

The undisputed business leader in the country should dress like a second-generation whizkid.

THE AMBANI LOOK: Dark suits, undistinguished ties.

WHAT WE RECOMMEND: Definitely more dash. To compensate for his height, Mukesh Ambani should wear longer jackets that create the illusion of height. Colours should tend towards the paler – greys and creams, in particular. The cuts should be less classic, more flamboyant, with hand-stitching along the lapels and hems. The fabric should definitely be lighter. In India, he should favour open collars with his jackets; overseas, he should blend long scarfs with his jacket and tie, and a camel coloured long coat would look good on him.

Bajaj adopted it as his own, and wore it almost without exception to work, for meetings and for conferences and large international events (long sleeves in winter, short sleeves for summer and in Mumbai and Pune). It’s the one thing all designers have panned.

Lately though, Bajaj has made himself comfortable in something else corporate India is still to come to terms with – “ethnicwear”, or more aptly, the kurta pyjama. Here, again, Bajaj has forsaken the trimmings of designer fashion for fairly practical plain, striped and checked kurtas teamed with either churidars, aligarhis or straight PJs.

If Bajaj has made a statement in bucking the Armani trend, the only others who have occasionally been spotted in ethnic clothes – and decidedly designer ones at that – are brothers Malvinder and Shivinder Singh – though for most part they’re part of the “suited-booted” brigade too.

Here, then, is a style list that works well for most CEOs who’re not part of the top 10 countdown (or count up, in this case). For, it’s time we showed the world that just as we’re equally at home in a globalised scenario, so are with our Indian heritage. Therefore, it would be interesting if the next time we sneak-peeked into an Ambani or a Nilekani or a Naresh Goyal cupboard, it would be to find some of these more uber style statements:

An Armani is safe, a Hugo Boss the height of boldness, but the hand-stitched lapel and hemming details that are a rage in the fashion world would be impossibly out of place in the gentleman’s cupboard in India

Bundgullas: There’s nothing more formal, and more distinctive, than a bundgulla, the uniquely Indian tunic coat that’s now hot on the Western ramps. Even though it can be teamed with shirts and worn casually open, it’s best recommended buttoned up, in a slim, long silhouette, so it hides the time our billionaires haven’t found to spend in the gym. Can be teamed with a show kerchief and/or a pocket watch. Never to be worn with sandals please, as some are wont to do: the bundgulla is too formal for that. Can be in linen and heavier fabrics, in a range of corporate colours, though pales (white, cream, beige) do very well too.

Western suits: When you need to be as inscrutable as the Chinese in a board room, the Armani/Boss suit is your best bet. But you must feel free to indulge yourself a bit too, and a little individuality is good for the soul. Therefore, look for – and don’t be embarrassed by – the linen suits of your Western peers (everyone but Donald Trump wears them): they’re comfortable, though they do crush easily, but it’s okay to wear them without creases as sharp as a knife’s edge. The trendier Italian streetwear suit can be adapted for less formal functions, especially in the evenings. But if you must make the count, then your measurements must be logged with a Bond Street tailor (right Laksmi Mittal?), and your suits should be custom-stitched (upturned hems and all) to stand the snobbish scrutiny of those who are to the manor born.

TIES: There isn’t another garment that’s as important as the tie – and no, the cravat or scarf aren’t worth the airing (unless you plan to spend an afternoon at the races). Ties have their own fashions, so you can have plains and solids, stripes (always popular), motifs (birds, elephants, even Mickey Mouse) – you could, probably should, have an extensive selection that includes them all. School or regimental ties are great for bonding. Use ties to make a statement: add a little colour (or humour) to meetings, but always retain your dignity. And, loosened just a little at the neck, they make the perfect statement for the billionaire boss at work.

ACCESSORIES: Always use belts, and a distinctive buckle attracts attention. Cufflinks spell old-world class – always wear them, preferably with your intitials/emblem on them. A tie-pin is redundant. Cummerbunds have been consigned to history, no matter what designers say about attempting to revive them

JEANS: Own several pairs. Wear for casual get-togethers, or on Saturdays. Ralph Lauren, naturally.

OFF-HOURS: Short-sleeve shirts please, for the summer (let the juniors wear Ts): bold stripes are currently trendy; Hawaiian shirts are good but hardly bosswear...

Finally, though: it is true that industrialists and entrepreneurs can’t be treated like actors and don’t need makeovers. Their confidence and style is part of their attitude, earned on the job. Why would they want to change that?

Sunil MittalSunil Mittal

As the telecom king extends his business, he could consider extending his wardrobe too.

THE MITTAL LOOK: Shirtsleeves rolled back suggest a working man, but mostly dressed in suits with light ties.

WHAT WE RECOMMEND: A total change. Mittal has a lot of flair and has a range of suits of which the lighter ones (tan, khaki, olive green) suit him better. However, Mittal could power dress a little less. He could carry of lightly floral shirts under his jacket. He should pair his shirt and tie with sleeveless waistcoats to create a style that is uniquely his.

Shiv NadarShiv Nadar

The techie look could work well for him instead of his usually more conventional choice

THE NADAR LOOK: Typically corporate, with pinstriped shirts with long sleeves.

WHAT WE RECOMMEND Change to light and solid colour plain shirts, worn under suspenders for a look that’s both formal and casual. Trousers should be loose girthed, with a good fall, and should be in dark colours with stripes to break the body. Should switch to nifty reading glasses – half glasses or pince nez would look droll on him.

Dilip ShanghviDilip Shanghvi

The pharma industry look is too industrious.

THE SHANGHVI LOOK: Blink, and you could miss him, Shanghvi is so conventionally dressed.

WHAT WE RECOMMEND: The researcher-meets-entrepreneur look – small, polka-dotted skirts (we’d love to pair them with a bow-tie, if Dilip Shangvi would only carry it off), cuffs rolled back, a casually worn jacket or waistcoat. Or, totally breaking with tradition and settling for formal long kurtas with churidaars could be a great highlight.

Naresh GoyalNaresh Goyal

The airline boss always dresses like a gentleman – now he should take a break.

THE GOYAL LOOK: Always formally dressed, in dark suits, solid ties.

WHAT WE RECOMMEND: While we aren’t suggesting that he ape Richard Branson/Vijay Mallaya, Naresh Goyal definitely has the pizzazz to carry off the nattier suits that are a rage in all of Europe – a hand-stitched white suit with dark blue stripes, for instance. Get the picture? Something that sets him apart in the crowded civil aviation and hospitality industry.

A dash of flamboyance for
Mukesh Ambani

I chose to design a new look for Mukesh Ambani, but now when I wonder why I picked him, the answer to that is quite evident:

He is a hardcore corporate guy and giving him a makeover would be challenging and, hence, fun. As far as I have studied Mr Ambani, he is quite a conservative dresser and someone who will not want to shift from his ideas of clothes. I find him quite serious, a “to the point” person.

However, there have been a couple of occasions that I have seen him relax on television, and he has his moments of flamboyance.

Mukesh Ambani
Fashion Designer Sayon Mitra suggests a makeover where the look is in the details

I want to capture that flamboyance in him and enhance that part of his personality with the right kind of clothes.

For this purpose I have designed two outfits. The first sketch is an outfit that Mr Ambani should wear to work. It’s a tailored suit worn with a shirt and a tie. The jacket has a distinct Italian look. The lapels are sharp and the shoulders are padded, broadening the shoulders and, hence, visually giving the wearer the feeling of authority and power.

Though Mr Ambani has both in abundance and doesn’t have to wear a jacket to indicate it, a jacket tailored like that gives leaves that impression. There is a bit of shape around the waistline, enhancing the shoulders even more. The lapel of the jacket is not only cut sharply, it’s long as well, showing quite a bit of the shirt and tie. The wider the structure of one’s body, the more invincible, confident and authoritative one feels. The pair of trousers are classic with turned-up hems. I want the whole ensemble to have a classic look with dashes of surprise here and there. I would want to give Mr Ambani a shirt in the same colour as the suit.

Generally, dark suits do well for officewear. So black, navy blue, charcoal grey are some of the colours that I would recommend for him, with his shirts in the same colour. With this, the tie can be absolutely bizarre, such as a golden yellow! Or, it could be the other way round – the tie and the shirt of the same colour and the suit in a contrasting shade. A pair of Italian shoes would go very well with the entire ensemble.

For socialising in the evenings I have decided to give him something classic and oriental. I feel that he would be able to carry a bundgala/Jodhpuri very well. The garment would have a textured yoke in the front. The jacket could be a woollen blended fabric in a dark shade. The yoke will have parallel slot seams with strips of raw silk. These strips would be in flamboyant and contrast colours.

The seams would be narrow so that very little of the contrasting silks can be seen and will not scream for attention. The same thing will be around the cuffs. I want to work on this garment with a lot of detailing. The shirt to wear underneath the bundgala will be of the same colour as the silk in the slot seams. The pair of trousers will have a classic look. No experiments needed here.

Here, I am highlighting Mr Ambani’s personality with the flamboyant jacket.

As far as the shoes are concerned, one can never go wrong with a pair of classic, handcrafted, narrow, yet chisel-toed shoes to complete the look.

In both ensembles I have tried to highlight his personality – not drastically, but subtly yet effectively.

Malvinder SinghShivinder SinghMalvinder & Shivinder Singh

The brothers should do a fashion jugalbandi.

THE SINGH LOOK: They dress reasonably young, as far as formal suits go, and have been known to slip into traditional Indian clothes on occasion.

WHAT WE RECOMMEND: Since they have the style, they should definitely make the bundgulla their speciality, and because they have age on their side, they shouldn’t be averse to getting a bit of work done on the chest and sleeves for evening wear. They could also team their bundgullas with breeches in the off-hours, though they should definitely stick with trousers during the day.

Kumaramanglam BirlaKumaramanglam Birla

He’s reorganised his companies, now he should do it for his wardrobe too.

THE BIRLA LOOK: Boring shirts, conventional suits. Never seen in relaxwear.

WHAT WE RECOMMEND: A complete makeover that represents his diverse interests. Therefore, he should look at Western suits (greys in particular), bundgullas and even achkans for formal wear. He should avoid kurtas since he cannot carry them off. Nor is the short-sleeve look good for him. We’d suggest playful, fun ties to team with his suits – everything else is so terrifyingly corporate about him.

Anil AgarwalAnil Agarwal

Metallic colours should be his forte

THE AGARWAL LOOK: Staid, boring suits and shirts.

WHAT WE RECOMMEND: To marry with his interests in minerals/metals, Agarwal should redesign his wardrobe to a minimal, stark style, with metallic colour, new generation, fitted shirts and jackets. He should wear polos or Ts under his jacket, and the bright glint of colour should distinguish his clothing. Accessories should include chunky belt buckles and watches.

Rahul BajajRahul Bajaj

The swadeshi man must look the role.

THE BAJAJ LOOK: Loose kurtas,bush-shirts and his one-time favourite safari suits.

WHAT WE RECOMMEND: Junk his wardrobe completely, and turn it in for a fully Indian wardrobe. He would look best in long, fitted kurtas with formal collars (otherwise described as Mandarin collars), in natural materials. Always churidaars, since loose pyjamas look clumsy. He should team them with smart sandals for the office, and jootis for the evening. For formal wear, he should definitely switch to achkans and, when travelling overseas, to the bundgulla with trousers combo.

“THEY DRESS JUST FINE”
RANNA GILL

It’s really hard to give makeovers to hard core businessmen. I think they’re absolutely fine with their respective dressing styles. I can’t dress Azim Premji in a Hawaiian print, can I? I mean, who can expect him to go to attend business meetings dressed like that? If you would’ve asked me to do a makeover for actors like Saif Ali Khan, I could still manage that. Actors play different characters in so many films that it’s justified to do their makeovers. But this sounds really bizarre. These top businessmen dress their part, look just fine and I really think we should just let them be.

THE BENCHMARK LOOK
ANJANA BHARGAVA

Fashion for corporate honchos like those featured as the top 10 billionaires in the magazine should ooze style that also implies comfort at all times. The manner in which these individuals dress up reflects not only the image of the respective companies but is also a benchmark for those who aspire to reach the same level as these icons. I would personally suggest a well-cut business suit for starters. A suit that fits well so that one is not constantly tugging at the tie or the collars of the shirt. The shirts should reflect a designer statement too. This doesn’t mean we’re looking at loud colours or bold patterns. Not at all, but it’ll be interesting to see these honchos dressed in shirts which have a hint of colour and some element of threadwork. It doesn’t have to be embroidered heavily but just simple thread work would look wonderful. On a white silk shirt for instance, a hint of thread work in white will make a lot of difference.

It’ll be interesting to try out newer colours as against the usual dark blue suit teamed with a maroon tie. I’d give black a thumbs down and, instead, advice a business suit in charcoal grey. Monotones of grey look very good, and for fabrics Italian blends will be a good option.

STANDING OUT IN A CROWD
NIKKI MAHAJAN

Since the individuals we’re talking about are billionaires, they obviously have no dearth of options. They can choose from a range of designer wear but I think it’s important for them to identify and find out what kind of a personal style statement they wish to make. Azim Premji, for instance, looks so dignified and extremely confident at the same time. If I was given a chance to do a makeover for him, I’d make sure he stands out in the crowd without really going over the top. I’ll go in for a softer palette of colours like a formal shirt in dull salmon colour that can be teamed with a well-cut business suit. By virtue of his position, I think it would be inappropriate to see him wearing loud colours but I’d definitely like to see him sport pastel and very pale shades of yellow, blue and green. I’d like him to team up a smart, black business suit with an aqua colour shirt with a hint of tonal embroidery. I’d make sure everything would blend stylishly and aesthetically for Azim Premji.

“WHY CHANGE?”
RAGHAVENDRA RATHORE

Constant change is not something that is welcomed by this stratum of people and it would not make them what they are if they seemed like many others who flip flop between fashion trends.

In the volatile world of business, the man who is comfortable “most” is king! Personal character has more to do with this then “mode”. Also, when you have access to almost every kind of vulgarity of luxury at will, what then becomes important clearly is the art of expurgation. Patronising national spirit by endorsing Indian products, design etc, is seen as tasteful.

Mr Anand Mahindra’s discussions with me each time lends me to see him as a good ambassador of Indian style. Two good reasons are that he is, in many ways, to India what a Briton is to England and an Italian to Italy. The innate Indianness is what makes him look elegant in the bundgala ensemble. Humble and gracefully witty, he – in dark colours and classic cuts – may actually never need a fashion designer’s input.


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The Billionaire Club November 2005