Italian fashion house Valentino is set to enter India, joining a growing list of luxury brands that have set up shop in the country to tap buoyant consumer sentiment after a slowdown in the Chinese economy.
People aware of the development said Valentino is tying up with IDFS Tradings and is also in talks with DLF Luxury Retail for its retail presence here, according to ET Retail.
Over the past few months, brands like French luxury leather goods maker Longchamp, Italian bespoke menswear brand Isaia, and Swiss watch brand Bovet have been launched in India.
“The slowdown in China, better economic growth and retail facilities here and the possibilities of an omni channel strategy are some of the factors leading these brands to launch in India,” said Arvind Singhal, chairman, Technopak Advisors.
“While the biggest luxury brands like Louis Vuitton, Gucci and Chanel have been present here for a while, as the market matures, the other niche tier II luxury brands are warming up to the possibilities here,” he added.
(Source: ET Retail)