The 7th annual LYCRA® Images Fashion Awards were held on January 24, 2007, at The Renaissance, Mumbai. Conceived in the year 2000, the awards felicitate and honour professionals and companies for excellence in the business of fashion, and are presented to professionals and industry entrepreneurs nominated by the Images team for their outstanding vision and achievements.

In the consumer awards category this year, Titan was ranked for being the most admired brand of the year in the timewear category, whereas Tanishq was selected as the most admired brand in the jewellery category.

The selection process for the awards comprised:

1) Countrywide consumer poll - largest poll ever so far
2) Calling of self-nominations
3) Information processing by process partners Technopak advisors
4) Tabulation by official tabulators: E&Y
5) Jury meet
6) Official tabulators, E&Y announced the winners at the awards