Though relatively a new entrant in the luxury leather goods market, Veev, known for its luxury handbags has the strong backing of Srivathsa Industries. The brand is all set to spread its retail wings both in the domestic and international market.
At present it’s only being retailed online. “Though we launched Veev just two years back, we are actually a very old company. The Srivathsa Industries has years of experience in manufacturing and exporting luxury leather goods to leading European labels. With state-of-the-art European machinery, a committed and trained workforce, its production facilities are spread across multiple locations in Chennai. Primarily into woven leather, Srivathsa Industries also specializes in customized products in niche areas,” explains Prakash Venkatesan, CEO, Veev.
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core vision behind launching Veev was to create a brand of contemporary luxury handbags completely designed and produced in India matching global luxury standards. Elaborating on the target audience, Venkatesan says, “We have two kinds of audiences. Firstly, those who have experienced top international fashion and those who are looking out for something different, very niche and unique product. Secondly, we are targeting the aspirational market who are moving from the Indian offerings to International ones.
The company already caters to customers in Japan and France and apart from India and its eyeing Australian, European and North American markets. “Right now we are only selling online. We have been very deliberate about our distribution strategy and don’t want to get into physical retail yet. We are scouting for the right MBO to sell our brand and products and are looking for few retail positions in Mumbai and Delhi, which will be followed by Mangalore,” says Venkatesan highlighting the retail strategy.
Commenting on their future plans, Venkatesan says we want to be here for another 20 to 30 years. “In the next two to three years, we expect to grow. Luxury platform is all about building relations with your customers for which we have to have a more deliberate strategy to get to the point where we want to be in future,” he asserts.
