Bulgari plans single brand stores in India

Italian luxury company Bulgari is the latest in the list of brands

looking to set up their own stores in India. The buzz is that the brand has submitted a proposal to set up exclusive stores in the country. Owned by the LVMH group, the over one billion euros (over Rs 8,000 crores) company earlier had a few stores in Delhi and Mumbai through a partnership with Mumbai-based Dia group's sister concern, Lifestyle Tradelinks India. In 2011, it snapped its seven year old ties with its local partner.

Though Bulgari is famous for its range of jewellery, the company has diversified its portfolio by adding watches, accessories, frangrances and even hotels. While, it would still scout for a domestic partner to enter India, the company is supposedly interested in having total control of its business in the country.

After tasting success, Bulgari, began expanding to international locations in New York, Paris, Geneva and Monte Carlo in the 1970s. Today, it operates stores and offices across 24 countries. Out of its 295 stores worldwide, 174 are owned by the group. The company earns its maximum revenue from Asia at 45.5 percent, followed by 34.8 percent from Europe and 13 percent from the US.

After India allowed 100 percent FDI in single brand retail, many high end foreign companies are eyeing to enter the country. But issues like 30 percent mandatory sourcing, dilemma over sub-brands, rupee’s fall against the dollar along with political uncertainty in the country are posing as roadblocks to their plans.