Business Daily from THE HINDU group of publications
Friday, Feb 29, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Feb 29, 2008 ePaper | Mobile/PDA Version |
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Marketing
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Strategy Variety - Entertainment & Leisure Bird Marine to sell Cranchi’s luxury yachts Our Bureau Bangalore, Feb. 28 Bird Marine, the youngest entity in the travel conglomerate Bird Group, on Thursday signed an agreement to represent and market European luxury yacht manufacturer Cranchi in India. The agreement was signed by Mr Gaurav Bhatia, Executive Director, Bird Group, and Ms Alessandra Cranchi, Managing Director, Cranchi s. p. A, on behalf of their companies. The $66-million Bird Group decided to form Bird Marine to represent Cranchi and other leading brands in the industry. Mr Gaurav Bhatia said, “For nearly 40 years we as a group have been serving the ‘air’ and ‘land’ markets. Bird Marine is aimed at us entering the ‘sea space’. We plan to develop a marina in a yet-to-be-disclosed location on the western coast in India to properly serve this market.” He said a significant amount would be invested in the new venture for brand building, marketing and back-up service facilities. “With increased levels of income and business prosperity, the demand for luxury brands in India is phenomenal and with a long coastline, luxury yachts have a niche that has yet to be properly tapped,” Mr Bhatia said. Ms Cranchi said, “We are pleased to have Bird Marine as our partners in India. The parent company ‘Bird Group’ has a promising track record, an extensive network within India and access to tremendous resource.” More Stories on : Strategy | Entertainment & Leisure | Shipping
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