Actor Yana Gupta showcases Suneet Verma’s Mosaic collection at the unveiling of the Lakme Winter Fashion Statement 2005 in Mumbai. (AFP)

Calcutta, Nov. 30: If there was one fashion week in 2005, there will be three in 2006.

Cosmetic major Lakme, in association with event production house IMG, today announced the launch of Lak-me Fashion Week, a five-day show to be held in Mumbai between March 28 and April 1. The spring-summer and fall-winter editions of India Fashion Week, hosted by the Fashion Design Council of India (FDCI), are already on next year’s calendar.

Lakme, the main sponsors of India Fashion Week till 2005, is dissociating itself from the event, the only one of its kind in the country so far. The FDCI’s contract with both Lakme and IMG was due for renewal this year.

Anil Chopra, the vice-president of Lakme Lever, mentioned two grounds for the divorce ? commercial reasons and its format. “From the business perspective, it suits us to host our own fashion week,” he said.

“For the next contract, FDCI was asking for three times the amount we paid for the last three years. Even considering it will be hosting two fashion weeks from 2006, the arrangement was not making business sense.”

The other point of disagreement was the FDCI’s decision to make Delhi a permanent venue for India Fashion Week.

“We have consumers throughout the country and hence we wanted FDCI to hold one show in Delhi and one in Mumbai. But they didn’t agree. Sponsoring two fashion weeks a year in the same city dilutes our value as sponsors,” Chopra added.

Senior vice-president of IMG Ravi Krishnan said: “Both Lakme and IMG are pillars of fashion and we are committed to promoting Indian fashion internationally.”