French luxury brands eye Indian market

Targeting India’s rich and famous, top French luxury brands are working out their plans to open outlets in major cities including Delhi and Mumbai. CEOs of at least a dozen French labels converged here last week to find out the policy fine-prints about opening their shops in best of India’s fashion and lifestyle hubs.

Louis Vuitton, which has its stores in the aisles of five-star hotels in Delhi and Mumbai, would scale up its presence in the national capital. “Looking at opportunities which India offers, there is potential for a few more stores. Our new store in Delhi would come up in January next year,” Louis Vuitton GM (Middle East and India) Damien Vernet said. Besides Delhi and Mumbai, Louis Vuitton outlets may also come up in Bangalore, Hyderabad, Chennai and Kolkata, he added.

Chanel, wants to expand its business by opening more points of sales, more so in Mumbai. “We would be expanding selectively since we need to find appropriate retail environment for our range,” Chanel India MD Xavier Bertrand said.

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The scarf, leatherware and jewellery maker Hermes has decided to open its first store in Delhi in 2008.

The government presently allows 51 per cent foreign direct investment in the single brand retail.