Louis Vuitton wants a feel of Indian luxury

Brands Kenz and Marc Jacobs will soon hit the shelves.

Louis Vuitton Moët Hennessy (LVMH), a luxury goods giant, is expected to roll out half a dozen luxury brands in India to keep up with an increasing demand from elite consumers in the country.

In a couple of months, the company is also set to announce tie-ups for a luxury retail venture in the country.

The ¤15.3-billion major that entered India through its jewellery and watch business will soon expand its offerings in segments such as fashion, leather goods, perfumes and cosmetics.

Among the high-profile brands that will touch the Indian shores over the next one year include Kenzo (fashion accessories), Marc Jacobs, (apparel and accessories), Berluti (shoes), haute couture brands Givenchy, Loewe, Celine and Pucci among others.

Ravi Thakran, group president, South Asia, told Business Standard, "The Indian consumers are ready for luxury and are looking beyond watches, ties and shoes for indulgence. India is the most sophisticated market in Asia and therefore, is also difficult to conquer."

According to a recent Bloomberg report, consumption for luxury goods is increasing by leaps and bounds in the Asia-Pacific region that also includes India.

Quoting financial services major Mastercard, the report says that demand for luxury goods and services in the region will expand 12 per cent annually over the next 10 years on higher disposable income and longer life expectancy.

It further adds that demand for luxury goods and products in the region may rise to $258.7 billion in 2016 from $83 billion in 2006, driven by emerging markets such as India and China.

"LVMH has been in India for five years and now is the time to consolidate our presence in the country. The company will be launching at least 5-6 brands by the next year and will also expand the watch and jewellery division," said Thakran.

While expanding its product portfolio, LVMH also plans to expand its watches and jewellery offerings by launching Fendi and Zenith by the next year.

Currently, the division operates through TAG Heuer, the luxury sports watch brand and Swiss time piece Dior. LVMH is exploring the foreign direct investment option or the franchisee route for the new entrants.

Thakran mentioned that the company was open to undertake adaptive, adoptive and innovative measures to offer right choice and mix to the consumers.

LVMH is also set to introduce Sephora, its beauty and cosmetics business, in India. The company has booked properties in Delhi , Bangalore and Mumbai, and will be launching five stores over a period of one year. Sephora is an interactive luxury beauty care concept that offers a range of skincare, make-up and fragrance products.

Thakran indicated that the company would soon foray into luxury retailing in the country. He said, "We are in talks with some companies and details should be finalised in a couple of months."

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WHAT'S IN STORE

The luxury goods giant is banking on the increasing demand of elite consumers in the country

The company will also announce tie-ups for a luxury retail venture in the country soon

The ¤15.3-billion major, which is already selling jewellery and watches, will lay hands on fashion, leather goods, perfumes and cosmetics