Business Daily from THE HINDU group of publications
Thursday, Aug 07, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Aug 07, 2008 ePaper | Mobile/PDA Version | Audio |
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Marketing
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Brands TSG International unveils 4 boutiques Our Bureau Bangalore, Aug. 6 TSG International Marketing Pvt Ltd, a marketing partner and distributor for high-end luxury brands in India, launched four boutiques in Bangalore today for Stella McCartney, Moschino, Lanvin and Jean Paul Gaultier brands. TSG has tied up with AEFFE Fashion Group, an Italian fashion house, for the exclusive marketing and distribution of all high-end brands in India. TSG currently has one store in Mumbai and plans to open one more there and two in Delhi soon. “The real estate scene in Bangalore was favourable and enabled us to open the stores here first,” said Ms Charu Sachdeva, CEO, TSG International. The company plans to have at least 30-35 points of sale in a couple of years, she added. The market for luxury products in India stood at Rs 3,528 crore in 2006. Of this, about Rs 1,508 crore was spent outside India and almost the same amount spent within the country while the grey market hogged about Rs 512 crore, she explained. The market is expected to double by 2010 and triple to almost Rs 8,480 crore by 2015, Ms Sachdeva said. India stands second to China in Asia and occupies the fifth place among global spenders on luxury goods. TSG India will also manage and operate other high-end brands such as Philosophy di Alberta Ferretti and Alexander McQueen. Investment in each of the cities is about Rs 25,000 per sq ft for the stores. The company is targeting sales of about Rs 100 per sq ft per day in Delhi and about Rs 70 per sq ft per day in Mumbai and Bangalore. “With this we hope to touch a turnover of about Rs 10-15 crore in 2008-09,” Ms Sachdeva said. More Stories on : Brands | Fashion
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