Italian fashion brand Gucci is now eyeing India as the next ‘big market’ for luxury consumerism.
In collaboration with New York based Muriani Group, Gucci is planning to launch a chain of dedicated showrooms in Mumbai and Delhi next year, instead of going for exclusive boutiques in hotels.
President of the Gucci Group, Robert Polet said, ‘We strongly believe in the Indian market. We are really committed to it. We think it’s time and I think we have the right partners.’
Gucci, the third largest luxury brand in the world plans to devote 60% of their retail development into potential Asian markets over the next three years.
Other high profile brands like Louis Vuitton, Jimmy Choo, Cartier and Chanel are also targeting the Asian market place.
Comments
There is so much hype about emerging Indian economy but do we have that much purchasing power ? Take examples of Malls in metros. The rush there is those of Buyers or time passers