• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi, March 28

Italian luxury menswear and accessories brand Canali is mulling the possibility of sourcing high quality fabric from India, even as it is planning to launch eight mono-brand stores by 2010.

The company is, however, moving ahead with caution since soaring real estate prices are a deterrent to expansions.

“The panorama of luxury in India is changing and we want to be a part of it. Luxury is also about providing the right ambience. If we don’t get the right atmosphere, we may slow down our expansions,” Mr Paolo Canali, Sales and Marketing Director, Canali, said.

On its expansion strategy, he said the company is scouting for joint venture partners. Canali has an arrangement with Genesis Colours to promote its brands in India.

On sourcing of fabrics from India, he said, “We are very closely monitoring some of the Indian companies that are providing very good quality fabrics, though we have not finalised anyone as yet. As of now we are just meeting agents who will facilitate sourcing for us.”

Mr Canali said India’s appetite for luxury goods is growing and is one the most promising markets.

Currently, the US is the biggest luxury market for the company.

“In the next five years, India will be among the top markets for luxury goods,” he said adding it is not just the elite but also business travellers who are emerging as its client base.

More Stories on : Brands | Outsourcing | Textiles

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Maruti to review 800 model after Nano launch

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line