News: Swarovski to operate new stores in India
(BL 15/04/2006) New Delhi - Austrian luxury goods major, Swarovski has charted out plans to further expand its business in the country. The company is looking to open another 16 exclusive outlets in 12 to 15 Indian cities by 2008.
"We have been present in the Indian market for five-and-a-half years and our experience has prompted us to further expand," Shiv Kumar, Country Manager, Swarovski India, said. "Our plans, however, will depend on how the retail and real estate market in the country develop,'' he added.
New stores
The company is looking to open stores across cities such as Mysore, Mangalore, Coimbatore, Ludhiana and Chandigarh, among others. Currently, it operates around 12 exclusive stores and around 23 points of sale in various shopping malls.
With regard to the company's growth in India, Kumar said: "We have been growing at around 50-55 per cent year on year and are aiming to double our turnover in the next three years."
"Swarovski is very choosy about the location of its shops, as it wants to give the same look and feel across the world," Kumar said.
It has been undertaking below-the-line marketing activities to increase brand awareness in India. "We are investing in visual merchandising, shop events and other seasonal events in the country."
The company, however, would continue following the franchisee model in India till the Government allows 100 per cent FDI in retail.
"Though we welcome the Government's decision to allow 51 per cent FDI in single brand retail, we would not be investing in the Indian markets directly," Kumar said.
Swarovski, which has group sales of about $1.83 billion with a total of approximately 16,000 employees, opened its fourth store in Delhi on Friday offering international crystal products.
"We have been present in the Indian market for five-and-a-half years and our experience has prompted us to further expand," Shiv Kumar, Country Manager, Swarovski India, said. "Our plans, however, will depend on how the retail and real estate market in the country develop,'' he added.
New stores
The company is looking to open stores across cities such as Mysore, Mangalore, Coimbatore, Ludhiana and Chandigarh, among others. Currently, it operates around 12 exclusive stores and around 23 points of sale in various shopping malls.
With regard to the company's growth in India, Kumar said: "We have been growing at around 50-55 per cent year on year and are aiming to double our turnover in the next three years."
"Swarovski is very choosy about the location of its shops, as it wants to give the same look and feel across the world," Kumar said.
It has been undertaking below-the-line marketing activities to increase brand awareness in India. "We are investing in visual merchandising, shop events and other seasonal events in the country."
The company, however, would continue following the franchisee model in India till the Government allows 100 per cent FDI in retail.
"Though we welcome the Government's decision to allow 51 per cent FDI in single brand retail, we would not be investing in the Indian markets directly," Kumar said.
Swarovski, which has group sales of about $1.83 billion with a total of approximately 16,000 employees, opened its fourth store in Delhi on Friday offering international crystal products.
posted by InCar Group Press Room at 13:34
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