Interviews
Italian apparel brand Canali eyes Indian expansion
09 Apr '12
2 min read
Canali, the high-end Italian apparel brand that entered into a 51:49 joint venture deal with Genesis Luxury Fashion for spearheading Canali's retail operations in India in February this year, plans to open 15 outlets in the country over the next three to four years.
Sharing Canali's expansion plans in India with fibre2fashion, Mr. Stefano Canali, General Manager of the Italian brand, said, “For Canali, India is a market with huge potential. In the first quarter of this year, our business grew 43 percent compared to the same quarter of 2011. Currently, we operate five single-brand boutiques in India. In joint venture with Genesis Luxury, we plan to open 15 more stores in the country over the next three-four years.”
Elaborating on the potential of luxury clothing segment in India, he says, “In India, the luxury goods market is growing at 20 percent year-on-year and the luxury clothing segment is growing at 30 percent y-o-y. The affluent consumers we target know what quality and distinctiveness are all about. Nonetheless, we make sure that our sales staff is properly trained in order to effectively advise our most demanding customers.”
“To properly train our sales staff, our company is setting up the Canali Retail Academy, which will come up by the end of this year. The Academy will be attended by all the sales people working at Canali stores worldwide to deliver a standardized experience across all Canali stores in the world,” he informs.
Commenting on constraints faced by luxury market in India, he avers, “Luxury market in India has to cope with three different constraints: high import duties, lack of infrastructure and lack of luxury locations. The Indian luxury market can grow by overcoming these constraints. By relaxing import duties, many of the Indian consumers who currently buy luxury goods abroad would be encouraged to buy at home, benefiting the Indian economy.”
Sharing Canali's expansion plans in India with fibre2fashion, Mr. Stefano Canali, General Manager of the Italian brand, said, “For Canali, India is a market with huge potential. In the first quarter of this year, our business grew 43 percent compared to the same quarter of 2011. Currently, we operate five single-brand boutiques in India. In joint venture with Genesis Luxury, we plan to open 15 more stores in the country over the next three-four years.”
Elaborating on the potential of luxury clothing segment in India, he says, “In India, the luxury goods market is growing at 20 percent year-on-year and the luxury clothing segment is growing at 30 percent y-o-y. The affluent consumers we target know what quality and distinctiveness are all about. Nonetheless, we make sure that our sales staff is properly trained in order to effectively advise our most demanding customers.”
“To properly train our sales staff, our company is setting up the Canali Retail Academy, which will come up by the end of this year. The Academy will be attended by all the sales people working at Canali stores worldwide to deliver a standardized experience across all Canali stores in the world,” he informs.
Commenting on constraints faced by luxury market in India, he avers, “Luxury market in India has to cope with three different constraints: high import duties, lack of infrastructure and lack of luxury locations. The Indian luxury market can grow by overcoming these constraints. By relaxing import duties, many of the Indian consumers who currently buy luxury goods abroad would be encouraged to buy at home, benefiting the Indian economy.”
Fibre2fashion News Desk - India
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