As the women and men sashay down the catwalk, you can't help cheering in support. This is a grand fashion show, and it isn't happening in Delhi or Mumbai or Bangalore. The venue is Chandigarh, and the atmosphere is electric. The first Chandigarh cheap money clips Week has stalwart designers-Ritu Kumar, Pallavi Jaikishen, Bhairavi Jaikishen, Satya Paul, Arpan Vohra, Akhil & Nikhil and Charu Parashar-sharing space with local designers-Sonu Gandhi from Ludhiana, Babi from Chandigarh, jewellery designer Anmol from Chandigarh-on the ramp.

A genuine sense of achievement pervades backstage for quite a while after the show ends. The success of the event has led to it becoming an annual affair, and the state's fashion council is already working on the next one.

Punjab's stint with fashion did not begin recently. Amritsar-born Ritu Kumar, the oldest brand in the region, says, "Women here are individualistic, with a nice sense of colour and style. They are not easily swayed by new fashion trends and love to blend tradition with modernity." Looking at India as a continent and comparing Punjab, in terms of its size, to a country in Europe, Kumar feels that the region is ready to have its own cheap necklaces platform, with ensembles relating to the local climate and socio-economic norms.

Pallavi Jaikishen and Bhairavi Jaikishen's bridal collection was a huge hit at the Fashion Week. While in the region Bhairavi made a trip to Patiala just to see the traditional phulkari work made there. "We are looking at this beautiful traditional form as references in our future designs," she explains.

Satya Paul, another large brand, with four stores in the region and 25 years behind them, is the oldest entrant. Satya Paul's Puneet Nanda says, "Punjabis, as a community, are perhaps the most elegant people in India. The women are beautiful and love to experiment with clothes." The brand has sourced woollens from Punjab and looks at the region as an integral part of the industrial base of Satya Paul's designs.

Arpan Vohra, a London-trained designer, feels that it is the perfect time to get back to his roots in Punjab. "People here appreciate new designs, labels and experimental garments," he says. Vohra's line is traditional, with playful cheap pendants, and encompasses structured and draped silhouettes. He says his interaction with potential clients has been very encouraging.

At the other end of the spectrum are designers who specialise in Western wear. Delhi-based Punjabi designers Akhil & Nikhil, with their impressive fashion background, are proud of Punjab's grand splash in the fashion scene. They look forward to gaining a gathering for their deftly crafted line of Western garments, designed "for the young and the ones who are experimental," they say.

Another Delhi-based designer, Charu Parashar, says, "Punjabis are known for their happy disposition, and my line echoes that." Having presented her Spring 2010 collection, with large sprays of sunflower and rose prints, Prashar's range of Western wear and saris are targeted at the young at heart.

Many regional designers also look at the home front as a mature market for fashion. Chandigarhbased Babi Grewal says, "People here are very fashion-conscious and like to wear well-coordinated ensembles." The growing awareness about trends is an aspect that Sonu Gandhi also agrees with. Having showcased her Serpent Collection at the Fashion Week, Gandhi says, "It is a blend of the modern and the traditional that people look forward to."

Jewellery is also a perennial favourite of Punjabi women. Anmol, a jewellery designer from Chandigarh says, "They are willing to spend if the product is good. Women have now broken away from the old family-jeweller trend and are looking at new designs."

LVMH Moet Hennessy Louis Vuitton SA posted a slim increase in 2008 annual sales and flat profit -- a relatively solid result in light of consumer spending -- showing that size matters when it comes to surviving the global economic downturn.

The company's diversified portfolio, which includes Hennessey Cognac, fashion house Louis Vuitton and the Sephora cosmetics retail chain, helped stem the effects of the slowdown. Still, the company declined to project results for 2009, citing the silver cufflinks economy, and analysts said this year could be worse than 2008.

The Paris-based group, the world's biggest luxury retailer by revenue, said sales increased 4% to 17.2 billion euros ($22.1 billion) for the year ended Dec. 31, compared with the previous year, and that full-year profit was flat at 2 billion euros.

For the fourth quarter, LVMH's sales increased 4% to 5.2 billion eurso -- a better performance than most competitors, all of whom have lamented the consumer belt-tightening during the holiday period.

"These are a strong set of results," said silver earrings Solca, luxury analyst at Bernstein Research. "It shows that scale is very important in this industry, especially in a downturn."

LVMH Chief Executive Bernard Arnault remained upbeat about managing in the economic situation, saying that the group would maintain investments in marketing and new products over the coming year. "We are looking to increase our market share," he said during a news conference. Mr. Arnault added that he would try to keep layoffs at the company to a minimum but didn't provide specifics.

LVMH's global presence helped offset slumps in weaker markets. Sales rose 2% in the U.S. and fell 10% in Japan. Elsewhere in Asia, LVMH saw a 19% increase in revenue.

There were a couple weak spots. The wine and spirits division reported a 3% decline in sales to 3.1 billion euros, hurt by falling demand for Champagne, especially in the U.S. The watch and jewelry business struggled in the last quarter of 2008 as demand for high-price baubles tapered off.

The group's fashion and leather-goods business silver key rings the company's strong suit, with sales of Fendi bags and Louis Vuitton purses helping to boost sales 7%. The perfume and cosmetics division also performed well.

Antoine Belge, a luxury analyst at HSBC, described Louis Vuitton's performance as "extraordinary." But he warned that LVMH's profits would not grow indefinitely. "We foresee a worsening of results in 2009," Mr. Belge said.

Mr Arnault said it was too early to predict the group's performance this year. "I hope are sales will continue to grow forever, but in this climate, you never know," he said.