Natuzzi Spa, the Italian premium upholstery major, which has around 350 outlets in 123 countries across the globe, plans to set up 70 stores in India by 2012, mainly through the franchisee route.
This was revealed to Fibre2fashion by Mr. Nitin Bahl, Country Manager of Natuzzi who said that the company will open its first two flagship stores in Delhi and Mumbai. The firm will introduce two of its brands; Natuzzi and Italsofa in India.
Giving more details he said, “We will explore multiple store formats like flagship stores, mono-brand smaller outlets and shop-in-shops and our target is the 1.2 million households with an annual income of Rs one million”.
Italsofa will be targeted at Tier I cities like Pune and Chandigarh, while Natuzzi will be positioned in the main and major metros. The company hopes to chalk out a turnover of Rs 1.62 billion by 2012.
Fibre2fashion News Desk - India