Armani Exchange, Cole Haan and CK Jeans to open stores in India

It is raining luxury brands in India. Armani Exchange, House of CK and Cole Haan are all set to open their stores. In fact, the brands will begin with Delhi NCR, opening the first outlet at DLF Mall of India, Noida.

Italian fashion brand Armani plans to bring bridge-to-luxury offering, Armani Exchange, by August. The average pricing will be Rs 3,000. Armani has already introduced entry-level Armani Jeans and uber-luxurious Emporio Armani and Giorgio Armani to India. It is believed that Genesis Colors will market Armani Exchange. It already markets international luxury brands including the other three Armani brands.

Similarly, American Cole Haan will also open first-ever store in the country. Cole Haan specialises in casual dress leather shoes and its products will be priced at Rs 10,000 onwards. The brand will be marketed by Arvind Lifestyle Brands. A Bangalore-based company, Arvind Lifestyle Brands markets over a dozen fashion and lifestyle brands. Cole Haan will most probably open a store by June end. Even CK Jeans, from the house of Calvin Klein, will open its store soon.

Presently, luxury and premium brands are on an expansion spree. The luxury market in India is growing rapidly. Presently, it is about 20 billion dollars (Rs 1.3 lakh crores) and is expected to grow by 2020 to 50 billion dollars (Rs3.3 lakh crores). But all this is subject to India growing at 9-10 per cent.