Recently, French luxury brand Hermès has appointed Megha Malagatti as its new managing director for India. With background in both the beauty and luxury sectors, Malagatti brings a wealth of experience to her new role. She previously worked at L’Oréal, where she most recently served as the director of business development for beauty technology tools. During her tenure at L’Oréal, she led marketing efforts for major brands like Kiehl’s, Shu Uemura, and Urban Decay in the SAPMENA zone and also managed travel retail for India and the Indian subcontinent.
Before joining L’Oréal in 2020, Malagatti spent seven years at luxury brand S.T. Dupont, where she managed retail excellence across France and the UK. She also served as a member of the prestigious Comité Colbert and was part of the French Foreign Trade Advisors network. Her journey in luxury began after transitioning from a career in information technology in Bangalore, India, to pursuing an MBA in France in 2012.
Malagatti’s appointment comes at a significant time for Hermès, which has been expanding its presence in India since 2008 and recently opened its third boutique in the country. The Indian luxury market, currently valued at $7 billion, is projected to grow substantially, reaching $30 billion by 2030. This appointment highlights Hermès’ strategic focus on India, a market that is poised for significant growth as more international brands establish their presence.
While Hermès continues to see overall growth, with sales rising 15% in the first half of the year to €7.50 billion, the luxury group’s second-quarter growth slowed due to decreased traffic in China. Despite these challenges, Malagatti’s appointment signals Hermès’ confidence in India as a key market in its global strategy.
