Former L’Oreal exec Megha Malagatti appointed managing director for India

French luxury brand Hermès has appointed Megha Malagatti as its new managing director for India. On her LinkedIn profile, the ex-L’Oréal, says: “I am delighted to announce that I have taken up my position as managing director of Hermès India. And at the same time, I am looking forward to rediscovering my roots in India after almost 15 years!”

Since June 2023, Megha Malagatti has been director of business development for beauty technology tools at L’Oréal. Before that, she was in charge of marketing for brands such as Kiehl’s, Shu Uemura and Urban Decay in the SAPMENA zone (South Asia, Pacific, Middle East, North Africa). Also at the global beauty giant, Megha Malagatti was in charge of travel retail for India and the Indian sub-continent.

Before joining L’Oréal in 2020, Megha Malagatti spent seven years working for luxury brand S.T. Dupont, managing the retail excellence division for France and the UK. At the same time, Megha Malagatti was a member of the Comité Colbert and a member of the network of French Foreign Trade Advisors. Megha Malagatti began her career in information technology in Bangalore, India, before moving to France in 2012 to study for an MBA and embark on a new career in luxury goods.

Hermès has been present in India since 2008, and opened its third boutique in April this year. Over the first half of the year as a whole, Hermès sales rose by 15% to €7.50 billion.

Despite these improved results, the luxury group’s growth slowed slightly in the second quarter. The reason for this? A drop in shop traffic in China, as Hermès explained in a press release in July: “in a more difficult environment, all regions continued to enjoy remarkable momentum, with the exception of Asia due to a downturn in traffic in Greater China.”

In India, where more and more international brands are strengthening their foothold, the luxury goods market is currently valued at $7 billion (€6.4 billion) and could reach nearly $30 billion by 2030, according to projections by the audit and consultancy firm Deloitte.