Michael Kors to expand retail presence in India

Luxury goods maker Michael Kors plans to expand its retail presence in India by

opening more stores. It has already launched four outlets within a year of foraying into the country. The label is now present in Delhi, Mumbai, Kolkata and Bangalore where it has garnered positive response from customers looking for high-end accessories like its famous monochrome bags, watches and footwear for women.

More stores would be opened this fiscal to take advantage of the rising consumer interest in luxury goods. Luxury goods grew 30 percent to reach 8.5 billion dollars (over Rs 52, 000 crores) in sales last year, according to a study by consulting firm KPMG and Assocham, which include products such as apparel, accessories, home decor, pens, watches, wines and spirits.

In 2013, Michael Kors partnered with New Delhi-based Genesis Luxury Fashion to open stores in the country. The brand is said to have entered into a franchising agreement with its domestic partner. In the past, Genesis Luxury has brought several iconic labels like Paul Smith, Bottega Veneta, Jimmy Choo, Etro, Armani, Crabtree and Evelyn, Furla and Tumi. Genesis has also entered into a joint venture with UK’s Burberry to form Burberry India and the classic menswear Italian luxury label Canali to form Canali India.