Armani's India tryst begins with four stores in 2007
21 Apr '06
1 min read
World's greatest luxury brand Giorgio Armani is all set to open shop in India with four stores in Mumbai and Delhi, latest by mid 2007.
The two brands to enter India will be Giorgio Armani and Emporio Armani, Commercial Director, Emporio Armani, Francesco Tombolini informed.
Whether the Euro1.5 billion company will enter directly, or with a partner, or take franchisee route, is yet to be decided.
The preferred partner would have respect for Armani, understands that it is lifestyle and not use Armani's name for leveraging his business, said Tombolini.
Even as almost 33% of its turnover comes from Europe, Asia and especially China has been growing fast.
China's 40 stores contribute 10 percent to the group's turnover. About 52 percent of the group's turnover comes from apparel. Flagship brand, Giorgio Armani draws the larger chunk of 33 percent.
Tombolini says they would always work with a 'Made for Armani' rather than a 'Made in India' partnership in the area of leather beaded business working exclusively for Armani.
The pricing policy would be to keep it at par with Dubai and not Italy, which is 10 percent cheaper, said Tombolini.
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