Bulgari plans to open store in India
LVMH has expressed interest in expanding its jewellery arm out to India, with talks of bringing Bulgari to its market. The Italian jewellery retailer has a limited retail presence in six cities in India through distributors, but its only mono-brand store in Mumbai closed last year because of poor results.
Following the acquisition of Bulgari by conglomerate LVMH , the global transition is said to be very much underway and plans for the India expansion will be in place soon, said Franck Dardenne, newly appointed general manager for the Indian business.
In an interview with Mint, Dardenne said: “Jewellery will come, I don’t know when, but in the short term.”
LVMH may also go on to introduce products from joint venture De Beers diamond jeweller in India. The joint venture with De Beers SA is reportedly looking at emerging markets for growth in Asia, after launching its first store in China in May last year.