Many international luxury brands such as Maserati, the car manufacturer and La Perla, the lingerie brand are in plans to return to India. These brands are aiming to comeback with reworked strategies, realistic expectations and new partners. They failed to make their presence stronger in the high potential Indian market in their first entry.
La Perla and Maserati have partnered with new partners. Ducati, the Italian superbike manufacturer has established a subsidiary.
As per the industry sources, Alfred Dunhill, the luxury menswear and accessories brand based in Britain is also aiming to comeback to India. The label closed its shutters in the country in 2012. Versace, the Italian fashion house is also in similar plans and it has found a new partner after partnering with designer Manav Gangwani’s company.
The international luxury brands seem to be in plans of tweaking their products, distribution strategies and pricing in order to suit the Indian market. They are also in plans to set realistic goals in the market that lacks the necessary infrastructure that is needed for luxury marketing. They seem to have understood the significance of having a capable local partner.
La Perla is foraying into the Indian market again with an all new partner, Vikas Jain, the Micromax Co-Founder. He believes that for an international brand to succeed in India, it needs a business model that understands and considers the uniqueness of the market. The brand entered Indian in the year 2006 with a franchise partnership with Murjani Group. As per the experts, the luxury brands get carried away with the growing number of wealthy customers and frame unrealistic goals. They say that the luxury international brands have to invest in the growing Indian market for the luxury consumption. They need to question themselves if they are all set for the second time
