Piquadro rolls out in India; 15 more stores by 2013
on December 26th, 2008 at 12:01 pmNew Delhi: Italian travel items and lifestyle brand Piquadro, which had recently opened a store in the capital, mulls setting up 15 such showrooms by 2012-13, eyeing the Rs 800 crore Indian branded luggage market.
The 40 million dollar company is seeking at tapping the corporate and fashion gifts market and has set up a 51:49 joint venture (JV) with DLF Group’s retail management arm DLF Brands for expansion in India.
“We have just started with our first Indian store at Delhi and our plan is to have a total of 16 outlets by 2012-13,” Piquadro India Brand Head Jayshree Chowdhury said.
She, however, refused to divulge the company’s investment plans for the India.
The company is basically targeting the premium segment customer in the metros and Tier I cities.
“We would be having a range of over 3,000 SKVs in leather goods, luggage items and accessories including keychains, cufflinks, laptops bags and gift items.
The company is setting up its second store in February 2009 at Delhi before venturing into other metros, she said, adding that the Piquadro stores would be of average around 600 sq ft in area.
“The Rs 800 crore organised leather bag market in India is growing annually at over 25 per cent and we want to have a substantial presence in it,” Chowdhury said, without disclosing the company’s sales target for India.
