The Hindu Business Line : D’Mart to set up facility in Gwalior

New Delhi, Feb. 18 Luxury lifestyle brand D’Mart Exclusif, along with Italian design house Linea Argenti, is in the process setting up of a manufacturing unit in the country to make high-end decorative art pieces in silver.

The facility, to come up in Gwalior, will see an investment of Rs 10 crore in the first phase.

Buoyant market

“The market for high-end luxury goods is showing an upward march. The facility will be in place by next year and will make decorative art pieces in sterling silver,” Mr K.V. Rao, Chairman, Dolphin group which owns D’Mart Exclusif, told Business Line.

The company, which has an exclusive manufacturing arrangement with Linea Argenti, said so far the Italian company was doing contract manufacturing for them.

Form joint venture

However, the two companies have formed a joint venture to establish a facility in India. D’Mart will hold a 75 per cent share in the joint venture and the Italian partner will have the rest.

“We have established ourselves in the luxury segment and did not want to piggyback on international brands for long. Our vision is to be a key international luxury brand,” he said, adding that the facility will help it achieve both logistic and cost advantages.

D’Mart, which has seven exclusive outlets in India and 14 franchises, said that it is also firming up plans to set up an outlet in London.

It also has presence in Amsterdam, New Jersey and San Francisco.

Collectibles

Observing that the sterling silver decoratives, which include limited edition pieces of God figurines, are fast becoming collectibles, Mr Rao said, the company may look at establishing a museum of its own line and limited editions. The decorative pieces range from Rs 3,500 to a couple of lakhs.

The market for high-end luxury goods is estimated at Rs 15,000 crore and growing at almost 150 per cent annually.

Mr Rao said the company is also looking to expand it presence in the tier 2 and tier 3 cities.

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