Torero seeks to bring global leather brands to Indian market

YASHOVARDHAN GUPTADirector and CEO, Torero

The firm already has a revenue sharing model with brands that it acquires

Kolkata, October 9

Gap T-shirts, USPA (US Polo Association) branded apparel and Gas jeans are readily available in India. Companies such as Arvind, Madura Fashion and Reliance Brands have been marketing them for a while here.

Kolkata-based Torero Corporation is looking to duplicate the model in leather accessories — wallets, handbags, belts and so on. But there is a small difference: the company wants to acquire the global rights for the manufacture, marketing and distribution of such brands.

Torero Director and CEO Yashovardhan Gupta terms it a “partnership” with global brands. The company has already obtained licences from brands such as Police (an Italian street fashion brand), Cross, V&L and the eponymous Spanish brand Torero.

The company is in talks with five more international brands — three European and two American ones — to be launched soon in the country, he said.

“We intend to be an Arvind or a Madura Fashion or even a Reliance Brands by specialising in the leather accessory space. We are in talks to bring some international brands to India,” Gupta told BusinessLine.

Torero has a revenue sharing model with brands that it ‘acquires’. It manufactures, markets and distributes their offerings, and in return a part of the sales proceeds is shared with the parent company (which owns the brand).

“We generally commit a certain portion of our total sales to the company,” Gupta explained.

The company has a 16-member design team headed by an international designer here. It also coordinates with the designer’s studio at Milan.

Currently, Torero has a standalone store — Brand Boulevard — in Mumbai, where it showcases the brands and nearly 500 units across these brands. More standalone stores across the country will come up depending on real estate availability.

This apart, it is present in 60 Shoppers Stop outlets through brand-specific shop-in-shop formats.

“We may explore tie-ups with other large organised retailers at a later stage,” Gupta added.

Interestingly, the company is also open to exploring adjacencies. It is mulling a foray into the footwear segment — leather shoes — through the Police brand.

Published on October 09, 2016
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