Here for long haul, not in a hurry to expand in India: Armani

Stating that it is in India for the long haul, Italian fashion luxury firm Giorgio Armani today said it is not in a hurry to expand in the country and would rather adopt a calibrated while spreading  reach here.

"We are not in a hurry to open shops here as we do not want to make any big mistake here. But yes, we will need to have a different approach for India," Giorgio Armani Group Deputy Chairman John Hooks told reporters here on the sidelines of CII Luxury Goods Forum.

He said the firm still does not "have a clear idea of the pace of growth in the country. We are currently understanding and experimenting."
    
The company, which currently operates two stores in Delhi for its two brands, Giorgio Armani and Emporio Armani, will be opening a third store in Mumbai next week, he added.
    
Asked about the future expansion plans, he said the firm is looking to take Giorgio Armani stores in other cities like Bangalore, Hyderabad and Chennai also .
    
"Eventually we should have a total of 10 to 12 stores here in India," he said, but did not share a timeline for it.
    
Stressing that the company is preparing for a strong foundation for a good business in the country, he said: "We have a strong strategy in India and have to resist the temptation to be an opportunist. We expect a long term in the country."
     
Hooks, however, said Giorgio Armani's plans have been hampered by the lack of proper retail spaces in India.
     
"We see limitation in terms of distribution as India does not have enough departmental stores and luxury retail points," he said but added the company was so far happy with the performance here.
     
Also, Giorgio Armani has a lot of brands that have a potential to be here in India that can cater to different segments, he added.
     
The company has highly-specialised sub-labels, including Giorgio Armani, Armani Collezioni, Emporio Armani, Armani Jeans, Armani Exchange, Armani Junior, and Armani/Casa.
     
Aksed if the firm is looking for any local partners to get the other brands here, he declined to comment.