Luxury brand Kiton to open two stores in India

Italian luxury bespoke clothing company Kiton plans to open at least two exclusive stores in

India following other Italian companies that have succeeded in establishing a foothold in the country.

The company entered the Indian market last year through a master franchisee deal with Mumbai-based Regalia Luxury Clothing. It is now exploring possibilities of inking a joint venture with a local partner. The brand is known for its made-to-measure suits, jackets and shirts in India. The cost of a customised Kiton suit ranges from about Rs 3 lakh to Rs 25 lakh.

The first two stores would be aimed at the rich based in Delhi and Mumbai. These stores would be ready by the end of this year or 2015. Global sales at Kiton rose 10 percent in 2013 over the previous year to about Rs 882 crores. The brand has 45 exclusive stores around the world.

As per a recent study by Assocham, India’s luxury market is poised to expand three fold in next three years and the number of millionaires expected to multiply three times in another five years. Increase in spending is anticipated across the country and beyond the walls of the metros, with increasing brand awareness amongst the youth and purchasing power of the upper class in Tier II and III cities in India where luxury cars, bikes and exotic holidays and destination weddings are no strangers.