 "Bvlgari")
Italian luxury goods brand Bvlgari is planning to double the number of boutiques in India and expects the country to become a part of its top ten markets over the next three years, a top company executive said on Wednesday.
“India is among the main countries for us when it comes to growth potential. While it is small market right now, it is a country with a strong sensibility of real, meaningful luxury, and in the next two-three years will enter our top 10 charts if we continue to flourish as we are,” Laura Burdese, deputy chief executive officer at Bvlgari, told Business Standard.
With two boutiques in India presently -- in Mumbai’s Jio World Plaza and in New Delhi’s Emporio Mall-- the brand is looking to expand its retail network to drive growth by doubling its network.
“We are looking at more than doubling our network to five boutiques next year with a second boutique in Mumbai and new ones in Kolkata and Hyderabad. On top of that, we are also exploring tying up with selective multi-brand watch retailers,” said Burdese.
“We will also be bringing a new concept store to the country, which will have a revamped concept and image. This will be quite a significant footprint, that will allow us to be closer to the Indian consumer,” she added.
Bvlgari, which has introduced Indian inspired pieces like the mangalsutra and kada, is also developing more such localised products.
Burdese is in India as the brand brings its famed Serpenti Infinito Exhibition, starting Thursday.
“We started working on this project two years ago and after successful edition in China and Korea, we decided to close in India, a country with whom we’ve had a long term love story spanning decades,” she said, adding, “Bvlgari has always been inspired by Indian art, gems and stones, and culture.”
