Devita Saraf's Most Valuable Luxury Investments Aren't What You Think

She's powerful, dynamic and exceptionally stylish, both in and out of the boardroom. But what strikes you first about Devita Saraf isn't simply her impeccable wardrobe or commanding presence; it's the unmistakable certainty she carries.

As the Founder, Chairperson and CEO of the Vu Group, she has spent two decades doing what many believed couldn't be done, building a profitable, debt-free and self-funded luxury technology empire entirely on her own terms. Armed with degrees from the University of Southern California and Harvard Business School, Saraf returned to India convinced that the country was on the brink of a luxury and technology revolution.

She recognised an aspirational India long before many others did—one seeking better design, better technology and better living. Vu was built to meet that demand. Today, the company boasts an impressive 87% customer loyalty rate and a business trajectory that reflects two decades of steady growth. Yet, as Saraf believes, numbers are only one part of the story.

Last month, Saraf made fashion headlines with her striking cover for Femina's Legacy Edition. Yet what made the cover truly memorable wasn't just the imagery; it was what she chose to wear. Feminine, soft and deeply rooted in Indian tradition with a contemporary sensibility, she appeared in a one-of-a-kind Hermès sari, the only one ever created in that particular shade of baby pink.

The sari had remained untouched for 15 years. Purchased by her mother shortly after Hermès officially entered India in 2011—long before social media transformed fashion into a constant race for exclusivity—it came with just one condition: Devita would save it for a truly significant occasion, perhaps a wedding or an important business milestone. Carefully preserved inside its iconic Hermès orange box, the sari accompanied Saraf through years of milestones. She had achieved significant business successes—awards, launches and defining moments—but somehow none of them felt quite right. Until she stopped waiting for the moment to find her and decided to make it herself. Choosing to wear the Hermès sari for her Femina cover became that decision.

Reflecting on the story behind the heirloom, Saraf tells The Style List, "Hermès officially opened in India in 2011, and I love collecting exceptional pieces." At the time, she was a young entrepreneur captivated by Hermès' exclusive 28-piece collection of silk and cashmere saris, crafted at the maison's Lyon workshop exclusively for the Indian market. Launched in October 2011 and priced between ₹3 lakh and ₹4 lakh, the limited-edition series featured designs including New Springs, Fleurs Indiennes, Coupons Indiens and Patch, blending traditional Indian motifs with iconic Hermès prints.

“I wanted the saree to remain the hero. Surbhi Shukla and I experimented with different drapes before settling on a soft, fluid silhouette that suited my body.”

The collection itself has an equally fascinating history. The idea was born in 1999 when former Hermès chairman Jean-Louis Dumas spotted Kolkata-based artist Sunita Kumar wearing a sari created from patchworked Hermès scarves. Kumar later consulted on the 2011 collection, which remains one of the maison's rarest creations. Owing to its extremely limited production, these saris are now regarded as vintage collector's pieces and modern heirlooms.

When Devita first saw the sari, she was a young entrepreneur who knew it was special. Her mother, recognising it as a piece worth treasuring, bought it for her as a true heirloom — 'so my mother very generously bought it for me a few days later.  “At the opening, the CEO told me that while most colours had multiple pieces, the pink version existed as just one piece in the collection, so I had unknowingly picked a masterpiece. I also personalised it by turning additional Hermès scarves into a custom blouse.”

came to life through the way Saraf styled it for the cover. Minimal, effortless and incredibly graceful, the understated accessorising allowed the craftsmanship to take centre stage. Her intention, she explains, was always to let the sari speak for itself. “I wanted the saree to remain the hero,” she says. “Surbhi Shukla and I experimented with different drapes before settling on a soft, fluid silhouette that suited my body.”

The Femina Legacy Edition ultimately became the milestone the Hermès sari deserved. By choosing to wear it for the cover, Saraf honoured the sentiment behind her mother's gift while presenting a powerful, contemporary interpretation of the Indian woman in a sari.

Working With Legacy Brands

Long before influencer collaborations became the norm, Saraf had already partnered with some of fashion's biggest luxury houses. Recalling those early relationships, she says, “Burberry approached me in 2012 and Dior in 2017 because they saw me as their customer rather than a fashion influencer. I especially remember Maria Grazia Chiuri's new vision for Dior, which felt modern, chic and effortless. I've since partnered with brands including Zoya, Jade and Jecko Gems, but today I only collaborate when there's a genuine fit, and I can create real value for the brand.”

The Hermès sari isn't the only rare treasure in Saraf's wardrobe. Over the years, she has carefully built a collection of exceptional pieces from Dior, Dion Lee, David Koma and Delvaux. Speaking about one of her favourites, she says, “My Delvaux bag is one of my favourites. The Paris team sourced the very last one available in the world for me, and it also happens to be baby pink.”

Her relationship with luxury, however, began much earlier. Looking back at her first luxury purchase — a Louis Vuitton handbag purchased using her very first savings while she was in Los Angeles — she reflects, "Luxury begins as something special and gradually becomes part of everyday life." That evolution, she believes, is precisely what many international brands fail to recognise when entering India. "Many brands launch entry-level products first, whereas Indian consumers often make their biggest luxury purchases for weddings and milestone occasions."

Dressing Like Herself

For years, Saraf felt the expectations placed upon women in business often limited personal style. But she never wanted to conform to the stereotypical image of the corporate executive. For her, fashion has never been networking currency. It has always been personal. Elaborating further, she says, “I enjoy glamour, but personal style always comes first. I buy couture based on how it makes me feel, the way it suits my body and personality, not because they're trending. Fashion should enhance the wearer, not overpower.”

“I enjoy glamour, but personal style always comes first. I buy couture based on how it makes me feel, the way it suits my body and personality, not because they're trending. Fashion should enhance the wearer, not overpower.”

Despite owning some of the world's most coveted luxury pieces, her approach to consumption remains surprisingly restrained. Every purchase must have meaning and purpose. As she explains, "Craftsmanship matters, but emotional connection and usability come first."

That doesn't mean she shies away from experimentation. In fact, she actively embraces it when collaborating with the right creative teams. “I've worked with stylists around the world—from Dubai and Paris to Sydney and Buenos Aires—and every collaboration has expanded my perspective. I know what works for my body, but I always encourage stylists to push me creatively.”

Beyond Fashion

Beyond business, she is also a classical dancer, jewellery designer, perfumer, Wall Street Journal contributor and a passionate advocate of what she calls "soft power"—the ability to command a room without sacrificing femininity.

For all her achievements, Saraf hopes her legacy extends far beyond business or fashion. As she puts it, “Fashion allows me to express my feminine side, but I hope people remember me more for being warm, kind and a good friend than for my achievements.”

She leaves aspiring entrepreneurs and dreamers with one final thought that perhaps best encapsulates both her journey and her philosophy: "Aim high. The goals that take years to achieve bring the greatest and longest-lasting satisfaction. Whether it's a business milestone, a fashion moment or a personal dream, the things you work hardest for stay with you the longest."