Hidesign to tap Chinese market with range of acessories
17 Oct 2007
Hidesign has reportedly drawn up plans to market a complete portfolio including jewellery, watches and sunglasses, which would be sourced from third-party suppliers. The new products will be targeted only at the Chinese, and would not be offered to other overseas markets for at least a year.
Hidesign''s main business is manufacturing of leather bags, garments, belts and footwear.
Though things are likely to take a more concrete shape from the beginning of next calendar, Hidesign president Dilip Kapur has already initiated quiet moves to make an entry into the Chinese market by setting up his first store in Shanghai and another at the Hong Kong airport recently.
Kapur had earlier told the media that these two stores were a part of a branding exercise.
Hidesign is also reportedly planning to roll out 12 stores by next year. The design chain had set up a store in Shanghai, and another at Hong Kong airport, ostensibly as part of a branding exercise.
Louis Vuitton (LV) from the LVHM (Louis Vuitton Moet Hannessey) stable is reported to have picked up around a 20-per cent stake in Hidesign.
Hidesign''s overseas presence started around 1990, with sales under its own brand name in the US, UK and Australian markets through distributors.
2000, the brand commenced domestic business in India on the same business model,
but moved on from the distributor-based model to its own stores on account of
the absence of the right retail environment for high-end goods in India.