New Delhi, Jan. 28 -- While creative directors of fashion houses in the West are playing musical chairs, a different game is playing out in India: what will be the first luxury fashion brand to go global?

Right now, Sabyasachi seems to be holding all the cards-a partnership with Aditya Birla Fashion Retail Ltd (the corporate bought 51% four years ago), a 5,800 sq. ft store in New York City's affluent West Village, a line of recognisable bags and jewellery that retail in stores like Bergdorf Goodman in New York, showcases at fashion weeks in Milan and New York, and collaborations with brands like H&M and Estee Lauder. The Kolkata-born designer is currently in the process of launching a perfume and beauty range. And of course, the fashiona...