Bulgari to enter India for the second time

Italian luxury brand Bulgari has applied to the Department of

Industrial Policy and Promotion (DIPP) to open single-brand retail stores in India. If it succeeds in getting the necessary approval, it would be the company’s second attempt to enter the country after it snapped its seven-year partnership with Mumbai-based Dia Group’s sister concern Lifestyle Tradelinks India in 2011.

Many Italian labels are eyeing an entry into the developing and positive Indian economy after India allowed up to 100 percent FDI in single brand retail. As per industry insiders, the company plans to invest around Rs five crore to open stores.

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 including 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.