Canali optimistic about Indian growth

Italian luxury clothing and accessories brand Canali’s Indian

business is growing at a much faster pace compared to the rest of the world. Stefano Canali, the third generation heir of the firm feels there is ‘good enough’ reason to be patient and keep investing in this market. The privately held company, which operates in India through a joint venture with Genesis Luxury plans to open stores in Kolkata and other cities.

India is among the top ten markets globally for Canali. It is happy with the growth of its business in the country. This year, Canali managed to get 14 percent sales growth compared to last year. Talking about the retail expansion in India, Stefano Canali, General Manager, Canali said, “Whenever good opportunities will arise, we will be ready to get them. For instance, in 2014, we are opening a store in Kolkata and as soon as some new locations will arise, we will be glad to be there.”

Globally, United States has been an important market for Canali for the last 20 years, while in China it has 70 stores. Italy was a disappointment, but Russia has been promising and is delivering. Last year, Canali clocked in 15 percent increase in turnover and this year it expects high single-digit growth.