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Armani to go slow on Indian expansion plans
13 Oct '10
2 min read
Giorgio Armani, a fashion luxury retailer from Italy, recently stated that, it is in India for a long heave and is in no rush to broaden its horizons here. It added that, instead it would prefer to take up a standardized approach for expansion here.
John Hooks, Deputy Chairman of the Giorgio Armani Group, stated that, they are in no rush to launch their outlets in India as they don't want to commit any blunder. However, he admitted that, they need to adopt a distinct outlook for India.
He averted that the company is still not able to make it out clearly as to at what speed it could develop here, so presently they are trying to comprehend and survey the markets.
The firm which already vends two of its labels Giorgio Armani and Emporio Armani in Delhi through its two outlets there, is all set to launch its third outlet in Mumbai within a couple of days.
While responding to a question on the company's expansion plans for the future, Hook said that, they are intending to launch Giorgio Armani outlets in cities like Chennai, Bangalore and Hyderabad, and added that, all in all they intend to have 10-12 outlets in India, but did not reveal the time limit for the same.
He further emphasized that the firm is gearing up to pave a strong base for healthy trade in India, and added that, they have a strong game plan for expansion in India, and would have to control the urge to cash on imminent opportunities, as they are planning a long stay in the country.
Dearth of good retail locations in India, has been coming in the way of the firms expansion plans, he said and added that, the distribution channel in the country is lacking as there are not adequate number of departmental outlets and luxury retail points here. However, he did state that, the company is satisfied with its performance in India, till date.
Hooks further stated that, the company possesses various highly-value brands like Giorgio Armani, Emporio Armani, Armani Collezioni, Armani Exchange, Armani Jeans, Armani/Casa and Armani Junior many brands which can be launched in India and could serve needs of different class of people.
John Hooks, Deputy Chairman of the Giorgio Armani Group, stated that, they are in no rush to launch their outlets in India as they don't want to commit any blunder. However, he admitted that, they need to adopt a distinct outlook for India.
He averted that the company is still not able to make it out clearly as to at what speed it could develop here, so presently they are trying to comprehend and survey the markets.
The firm which already vends two of its labels Giorgio Armani and Emporio Armani in Delhi through its two outlets there, is all set to launch its third outlet in Mumbai within a couple of days.
While responding to a question on the company's expansion plans for the future, Hook said that, they are intending to launch Giorgio Armani outlets in cities like Chennai, Bangalore and Hyderabad, and added that, all in all they intend to have 10-12 outlets in India, but did not reveal the time limit for the same.
He further emphasized that the firm is gearing up to pave a strong base for healthy trade in India, and added that, they have a strong game plan for expansion in India, and would have to control the urge to cash on imminent opportunities, as they are planning a long stay in the country.
Dearth of good retail locations in India, has been coming in the way of the firms expansion plans, he said and added that, the distribution channel in the country is lacking as there are not adequate number of departmental outlets and luxury retail points here. However, he did state that, the company is satisfied with its performance in India, till date.
Hooks further stated that, the company possesses various highly-value brands like Giorgio Armani, Emporio Armani, Armani Collezioni, Armani Exchange, Armani Jeans, Armani/Casa and Armani Junior many brands which can be launched in India and could serve needs of different class of people.
Fibre2fashion News Desk - India
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