Boggi Milano’s India plans

Monday, 05 July 2010

Italian premium menswear brand Boggi Milano is planning to open 35 outlets in India by 2015. It also plans to garner revenue of around Rs 225 crores from the country within the next five years. The brand, which entered India in 2008 under a joint venture with real estate major DLF’s retail management subsidiary, DLF Brands, currently operates three stores in Delhi-NCR. It’s looking at expanding in metros across the country. The brand's next two outlets are going to come up at the Delhi International Airport's swanky new Terminal 3 on July 14.

Then the brand plans to venture into Kolkata and Bangalore in July and Chennai before the winter arrives. The project is part of the 12-million euro investment plan finalized by the two JV partners in 2008 where the brand holds a 30 per cent stake. So far the company have invested around 1.5 million euro and the rest would go for the brand's expansion during next five years.

The 140 million euro Boggi Milano currently sells almost its entire international range in the country including formals, casuals, sportswear and accessories. Its suits start from Rs 30,000 a piece, while casual shirts and accessories are offered at Rs 2,500 onwards. The brand expects revenue of $50 million from the country by 2015 and hopes to make their business cash positive by 2012. Boggi Milano operates in over a dozen countries and has around 80 exclusive outlets across the world.