The beauty queen-turned-actress is described as a "compulsive shopaholic" by friends, and says she needs therapy for her splurging.
"I need therapy when it comes to shopping. I have no rules. My friends call me a compulsive shopaholic and joke that I can find arm loads to buy even at the paanwalla, " Lara said in an interview to Vogue India's March issue.
Lara features on the cover of the fashion bible that hits the stands Wednesday. She has been photographed by Marcin Tyszka for it.
The 31-year-old also claims her closet is a testament to her love for shopping that boasts of a Chanel tweed jacket that she bought at 17, a little black dress from Azzedine Alaia in Paris at 19 and a Cartier Love bracelet.
"It was the most expensive thing I could buy at that time and I still wear it, " she said.
Asked about her most recent buys, she promptly replied: "A fabulous black leather pencil skirt from Pinko, fringed boots from Jimmy Choo in London, and aviators from Tom Ford."
Not many know that the actress is obsessed with footwear too.
"My fashion obsession is shoes, shoes and shoes... I am a total heels girl, but recently I've been trying to wear more flats, " she said.
Her shoe fetish started with a pair of black Manolo Blahnik pumps that she treated herself with after her big win at the Miss Universe 2000 pageant.
It was followed by silver and cobalt blue Yves Saint Laurent Tributes, Gucci "weapon-like" stilettos, countless Christian Louboutins, gold Jimmy Choos, new Brian Atwood pumps from London and a crystal pair of Gina sandals that she wears whenever in "doubt".