Magazines Archives - 2008 February

Versace making foray into India’s ladies fashion market
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A HIGH-END Italian designer brand, Versace will be launching its latest collection of jeans and accessories to kick-start its venture into India’s ladies’ wear market this year.

Through a franchise arrangement with Delhi-based high-end apparels retailer, Blues Clothing Co (BCC), Versace’s mainline collection will make its debut at the Grand Hotel in Vasant Kunj, while its Versace Jeans Couture (VJC) range will be launched in South Extension and DLF’s Emporio Mall in Gurgaon.

“The VJC and Gianni Versace (mainline collection for men and women accessories) would be available in our premium retail stores here,” said Abhay Gupta, executive director of BCC. “The company is likely to have a turnover of around Rs25 crore (US$6.2 million) for financial year 2008
and, in financial year 2009, the turnover would increase to Rs40 crore.”

Despite being one of India’s fastest growing sectors, valued at Rs2,100 crore with year-on-year growth of up to 20%, the premium-apparel segment faces severe shortage in terms of luxury retail space, said Gupta, adding that BCC has tied up with DLF for space in the latter’s upcoming luxury
malls in Mumbai, Hyberabad and Chennai.

“Purchasing power definitely exists for these designer brands, which is evident from the fact that we are expanding from a twostore network to five-store network,” he added.