Who owns gucci in india

In contrast, tight control on costs and a portfolio spread across luxury and premium brands which are a notch lower than luxury helped Reliance Brands Ltd, the retail brands division of conglomerate Reliance Industries Ltd , to reduce its losses marginally. During the year, Reliance Brands, whose luxury portfolio includes brands such as Ermenegildo Zegna , Paul and Shark , Thomas Pink , and Brooks Brothers , added eight stores to its luxury portfolio, taking its total count of stores in the luxury portfolio to The addition of new stores along with price increases helped revenues increase by Like-to-like sales, is industry parlance for measuring comparable sales growth from stores that have been in operation for over a year.

Meanwhile, a sharp fall in the rupee made luxury goods more expensive. According to experts, the luxury business was impacted by a number of factors—low consumer sentiment meant that people were not in a mood to spend; a weaker rupee led to prices going up here and consumers preferring to shop overseas; and overhead costs such as rentals remained high.

Lee would be hoping that India can equal China in sheer growth, what with the latter proving to be the fastest-growing market in the world for Gucci. In , Gucci grew 69 per cent in mainland China, which has 16 stores up from four in Lee points out that the first half of too has seen double-digit growth.

Asia-Pacific is the second-largest contributor to revenues, after Europe, pitching in with The India entry will help further boost that figure. This country does not have a history of departmental stores; there is no history of segregated streets or areas for shopping.

The store covers square meters and offers handbags, shoes, watches, sunglasses, jewellery, small leather goods and gift items. Indians have a sophisticated taste for luxury goods and we have been working with Indian customers in key European locations for years. For Polet, nothing much has changed, whether it was ice-creams his last worldwide portfolio at Unilever or selling bags and shoes.

Gucci will tie-up with the Murjani brothers to enter India. In an exclusive interview to ET, Gucci Boss, Group, Robert Polet confirmed that it will enter the country via high street retail and not five-star hotels.