Even though some families have chosen to keep matters relating to the management of the business within the family, members don't always see eye to eye.
Indian fashion designer Ritu Kumar acknowledged that she has had arguments with her son Amrish, the chief executive officer at the Ritu Kumar company. Kumar is best known for her luxury designs that showcase Indian craftsmanship and the doyenne counts everyone from Bollywood star Aishwarya Rai to the late Princess Diana as patrons.
Amrish is currently attempting to adapt the company to cater to a more contemporary audience, but he acknowledged that it isn't always easy. "There is a generational shift along with a massive growth in the size and scope of the organization. This will always bring some turbulence," Amrish told CNBC.
Still, even with the occasional disagreement, Kumar remained appreciative of her son's contributions to the business.
"Looks like he [Amrish] is taking it international — it will be good," Kumar said.
— Liza Tan, Anmar Frangoul and Gauri Bhatia, contributed to this report.
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