Bulgari eyes India entry again

Monday, 12 March 2012

After global luxury giant LVMH took over Bulgari, the company is eyeing the growing  Indian market. For now, Bulgari has a limited retail presence in six cities in India through distributors. Its outlet in Mumbai closed last year, following disappointing results. Apart from ramping up Bulgari’s presence in the country, LVMH is also planning to introduce products from joint venture De Beers diamond jewellers in India. The joint venture with De Beers SA, operational since 2001, launched its first store in China in May last year. It’s reportedly looking at emerging markets in Asia for growth. The De Beers group has a wholly owned subsidiary in India that launched the diamond brand Forevermark in January 2011.

LVMH has been reviewing growing its footprint in India for some time now. After the government allowed 100 per cent FDI in single-brand retail, many big luxury brands including LVMH are studying the conditions like mandatory sourcing from SMEs mentioned in the fine print.