Financial Daily from THE HINDU group of publications
Saturday, Oct 29, 2005
Financial Daily from THE HINDU group of publications Saturday, Oct 29, 2005 |
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Marketing
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New Products & Services Industry & Economy - Radio/TV Chanel plans formal launch, sees good potential Our Bureau
New Delhi , Oct 28 BULLISH on growth in India, French fashion brand Chanel is all set to formally launch its operations in the country. It already has one boutique in the Capital and is planning to set up a second one in Mumbai next year. "We would also be setting up 10-15 fragrance/beauty product counters in major department stores across the country in 2006. The boutiques meanwhile will be showcasing almost all the categories including our watches, bags, eyewear," Mr Xavier Bertrand, General Manager - India, Chanel said. The company has been studying the Indian market for several years and feels that there is growth potential here. "In fact, top officials from Chanel have been visiting India for 4-5 years now. There is a definite social change that has taken place in the country," Mr Bertrand said. Recent studies have pointed out that the number of crorepatis in the country is on the rise and people are increasingly spending more on personal accessories and products. Chanel would be rolling out its products in India at the same time that they are launched internationally and would keep the pricing the same as in overseas markets, despite the high import duties in the country. Meanwhile, in order to increase brand awareness in the country, Chanel would be rolling its famous ad film featuring Nicole Kidman in cinema theatres. The ad film may also be launched on Indian television in a few months. The luxury brand will be launching formally with a fashion show tomorrow. It has also set up an exhibition in the Capital with pictures of fashion icon Gabrielle `Coco' Chanel and her team, an artistic tableaux showcasing bottles of Chanel's fragrance No 5, and exquisite jewellery from the fashion house.
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